Hydratec Industries exchanges its interest in Stork for the remaining interest in Rollepaal
Hydratec Industries NV and Participatiemaatschappij Wadinko NV have reached agreement regarding a share-swap. As of 30 June, Hydratec Industries will exchange its 75% interest in Stork Plastic Machinery BV for 25% of the shares in Rollepaal Holding BV and will thus become the 100% shareholder in Rollepaal. The intention is that the Brink Group will subsequently acquire a 75% interest in Stork as a supplement to its current activities. In addition to this share-swap Hydratec will pay an amount that it has been agreed will remain undisclosed.
Rollepaal (Dedemsvaart) designs and manufactures extrusion systems for the production of plastic pipes.Stork Plastic Machinery (Hengelo) manufactures plastic injection moulding machines for the plastics industry. Brink Group (Harskamp) develops and manufactures injection moulds and robotised removal systems for injection moulding machines.
Bart Aangenendt, CEO of Hydratec:
“In this Corona time focus and clear management are very important. This is why I am delighted that we, in good consultation with Wadinko, have been able to agree these combined transactions. This makes it possible to focus even more sharply on both activities. Rollepaal fits in perfectly with Hydratec Industries’ plans for the future, and Stork is a logical addition to the Brink Group’s activities.”
The Works Councils of Rollepaal Holding BV and Stork Plastic Machinery BV have yet to deliver their opinion regarding the proposed transaction.