Kautex Machinenbau taken over by Jwell Machinery

After the German law firm AndresPartner, advisor for the sale of Kautex Maschinenbau, announced in recent days the transfer of the company under the control of the German subsidiary of a Chinese investor without providing further details on the identity of the latter, the German manufacturer itself has now announced that the investor is Jwell Machinery. The company's independent Chinese manufacturing plant, Kautex Shunde, for which separate negotiations are ongoing, is excluded from this operation. Kautex Maschinenbau has been renamed Kautex Maschinenbau System, remaining however an independent company within the Jwell Group, and will represent the third production hub in the world.

Under the terms of the transaction, Jwell Machinery takes over 50% of the employees at the Bonn head office, which will continue to operate both as a headquarters and as a production plant, and 100% of those working at all other locations. The remaining 50% of the staff at the German site have been hired by a new company. Some changes have also affected part of the management. CFO Julia Keller left the company, replaced by Jun Lei, while CTO Paulo Gomes will also leave his post in February to be replaced by Maurice Mielke, Global Director R&D until last December.