Thermoforming Systems Supplier Illig to Lay Off Almost Half of Workforce as Part of TakeoverThermoforming Systems Supplier Illig to Lay Off Almost Half of Workforce as Part of Takeover

German thermoforming and packaging systems supplier Illig has a new lease on life, with backing from Munich-based investor Orlando Capital GmbH.

Having faced financial strains over the past few years, Illig will continue operations as an independent entity starting in August but must cut 200 of its roughly 500 employees as part of the deal, in which Orlando Capital has acquired Illig’s entire portfolio. 

“With the entry of a financially strong investor, Illig will once again invest more in the development of new technologies and innovations,” the company said. “At the same time, the company will focus even more strongly on international growth and the further development of strategically important product areas and markets.”

With two production sites and eight service subsidiaries worldwide, Illig is indeed looking ahead to new launches. In September, the company will present a new sustainable packaging product at the Fachpack show in Nuremberg. Adding to its range of packaging machines, Illig will unveil a system for processing dry natural fibers.

“Illig is optimistic about the future: In a dynamic market situation, packaging will continue to be an essential component of brand products and will fulfill even more functionalities, particularly around product protection,” the company said. Addressing sustainability trends, Illig “intends to contribute to these global trends with its existing expertise, technologies, and services and wants to set its own innovative trends for the packaging technology of the future.”

Illig, which marked its 75th anniversary in 2021, initiated its restructuring at the end of 2023. While the purchase contract was signed July 17, full ownership transfer is expected at the beginning of August.