Hydratec NV has agreed a share swap with its co-shareholder, private equity company Wadinko NV in Overijssel. Hydratec will acquire a 100% interest in Timmerije and Wadinko a 100% interest in Euro Mouldings. In addition to this share swap Hydratec will receive an acquisition sum that it has been agreed will not be disclosed. Timmerije, located in Neede, designs and manufactures injection-moulded plastic products for the industrial sector. Euro Mouldings in Nijverdal manufactures blow-moulded plastic packaging.
Mr. Bart Aangenendt, CEO of Hydratec:
“We are delighted with this combined transaction. With the 100% interest in Timmerije, plus the recently acquired Helvoet, our Plastics core activity will become more homogenous. This will make a sharper focus on the further growth of these activities possible. Euro Mouldings fits in extremely well with Wadinko’s future plans and has thus increased its expansion possibilities.”
Euro Mouldings’ Works Council has yet to report its opinion regarding the intended acquisition by Wadinko.
Profile Hydratec Industries NV (Hydratec)
Hydratec is an industrial holding company. Its activities are:
- 1. Agri & Food Equipment: The design and manufacture of Agri & Food Equipment by Pas Reform Hatchery Technologies in Zeddam and LAN Handling Systems / ABAR Automation in Tilburg and Halfweg.
- 2. Plastics: The design, manufacture and assembly of plastic components and packaging by Helvoet, Timmerije and Euro Mouldings, with production facilities in the Netherlands (Hellevoetsluis, Tilburg, Neede and Nijverdal), Belgium (Lommel), Germany (Munich) and India (Pune).
Hydratec Industries is listed on the NYSE Euronext Amsterdam NV (ISIN NL0009391242, ticker: HYDRA).