IWKA continues to make progress with planned divestments

As part of its ongoing program of divestments, IWKA Aktiengesellschaft has sold HASSIA-Redatron GmbH, headquartered in Butzbach, Hessen

7 November 2006

HASSIARedatron had been categorized as a discontinued operation, effective June 30, 2006. The purchaser is Piltz Verwaltungsgesellschaft mbH, based in Heidenheim. The acquisition was completed on November 6, 2006. The parties have agreed not to disclose the purchase price.

HASSIA-Redatron GmbH specializes in the manufacturing of pouch, sachet and stickpack machines. The new owner, Piltz Gruppe, is a family business based in Heidenheim on the Brenz River and competes directly with HASSIA-Redatron in some market segments. HASSIA-Redatron has 68 employees and in fiscal 2005 generated sales revenues of about € 15 million. The company plans to expand activities at its Butzbach location in connection with the synergies arising from its association with Piltz-Verpackungstechnik.

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