Greiner AG in advanced stage to conclude deal with Nimbus on the sale of Greiner Extrusion Group

Greiner AG

Greiner AG (“Greiner”) (www.greiner.com) is engaged in exclusive negotiations with Nimbus (www.nimbus.com) concerning the sale of Greiner’s extrusion division (“Greiner Extrusion Group” or “GEG”) (www.greinerextrusion.com). The negotiations are at an advanced stage. Both parties are confident that these will be concluded within the next couple of weeks, so that signing of a definitive agreement to effectuate the Transaction will take place by mid-November. Following the signing, regulatory approvals will need to be applied for so that the completion of the Transaction could take place towards the end of the year.

Nimbus is a Dutch/German investment company and is also the shareholder of GEG’s market participant battenfeld-cincinnati (“BC”)(www.battenfeld-cincinnati.com). BC develops and produces extruders for the pipe, sheet and profile market and has operations in Germany, Austria, the US and China. BC extruders are sometimes sold in conjunction with GEG’s extrusion lines and tools.

Greiner CEO Axel Kühner on the planned transaction: “With Nimbus we would be giving our extrusion business to a strong partner with a lot of experience. It is particularly important to us to conclude with the “right” buyer who can and who wants to develop Greiner Extrusion further. We will therefore focus on our three major core areas Packaging, Bio-One and NEVEON in the future.”

It is Nimbus’ intention that BC and GEG shall remain separate firms with their own organizational structures and their own market interfaces. It is planned that the two companies will be grouped under one holding company, effectively becoming sister companies, who as such will aim to achieve synergies in areas like purchasing and parts manufacturing.

Nimbus Managing Partner Ed van Dijk: “Like battenfeld-cincinnati, Greiner Extrusion is an established manufacturer of high-performance plastic extrusion equipment. Both companies invest heavily in product development and are seen as technical leaders. We would be proud to become a shareholder in such a well-regarded company. Our focus as shareholder will be to ensure that both companies individually keep offering their customers the best possible solutions while at the same time exploiting the synergies that the combination of know-how and capabilities will bring.”

As part of the Transaction, Nimbus also intends to purchase the land and buildings in Nussbach and Trhové Sviny from Greiner, as it sees these locations as being essential to the business.