Recycling equipment maker NGR acquires majority stake in Dr. CollinRecycling equipment maker NGR acquires majority stake in Dr. Collin
Austria-based Next Generation Recyclingmaschinen GmbH (NGR) has acquired a 90% interest in the German company, Dr. Collin GmbH. The parties have agreed not to disclose financial details of the deal, which was effective on March 1.
March 13, 2014
Both companies see strong synergies in a combined technology platform and global marketing activities. By joining forces, a new organization will be formed with competences that will bring closer the ideal of a "circular economy." Dr. Collin produces a wide range of equipment, including laboratory and pilot-scale equipment for extrusion, while NGR makes recycling equipment. The Collins machines are essential for product design, whereas NGR provides recycling solutions for plastic conversion and end-of-life plastics.
"If you look at the product lifecycle of plastic scrap, NRG has always been active in supporting the stages of product manufacture and recycling," NGR CEO Josef Hochreiter said in a news release. "With the expertise of Collin we are expanding our capabilities in product design - an important stage in exploiting the full potential of plastics - and pointing the way toward effective use of finite resources."
Asked to elaborate, NGR commented to PlasticsToday that the product lifecycle begins with product design and has, in the past at least, often ended with the landfilling of products. "Thanks to strong administrative efforts by the European Union, the USA, China, etc. our economies are beginning to change from this 'linear' model into a circular economy," said the company. The newly formed group organization, with a total of 220 employees, is aimed at promoting and contributing to this transition.
What about the medical sector, an area in which Dr. Collin has been developing expertise: is there a role for recycled plastics, we wondered. Has NGR had prior experience in the medical area?
As it turned out, they had. "NGR has already some experience in the field of medical applications. We have completed projects in this area by being able to also meet the high standards of this industry."
Unfortunately, the company's not allowed to reveal any details. "Currently we have a follow-up project with the same manufacturer, this time outside Europe. As we have entered non-disclosure agreements with the clients we regret not being able to pass more details, not even in connection with the product-application as such," they said.
More information about the way in which the new organization plans to present itself on the market will be forthcoming in the near future. Meanwhile, the two companies will for the most part continue to operate independently. According to NGR: "Both companies will continue not only to have, but to expand their own sales organization. Other than in the past, we will cooperate very closely to utilize synergies where possible, but the single interests of each company will be the last and crucial point of decision."
To ensure continuity, 77-year old Dr. Heinrich Collin, founder of Dr. Collin GmbH, has retained a 10% minority interest in the company. He intends to continue in a management role for one year, after which he will become an advisor, providing support to the company and to his successor in the CEO role, Dr. Friedrich Kastner, until he turns 80.
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