Velox GmbH & Co. acquired 94% of the shares of the company, as well as related subsidiary Kunststofftechnik Straufhain, for an undisclosed sum.
In addition, two new MDs will take over operations in a move described as being part of an initiative which will determine the future fateof the company.
Velox has announced that it intends to develop HK’s ability to respond quickly to consumer demand, as well as preserving and enhancing its business in Coburg.
Managing Directors Dr Thiemo Hagedorn and Dr Jörg Lux commented in a statement: “Innovative packaging ideas, interesting design, customer orientation and a highly efficient production will strengthen and improve our market position in the cosmetics industry in the coming years. Coburg with its cluster of business partners and suppliers is the perfect locations.”
Under new management…
The appointment of new MDs Dr Thiemo Hagerdorn and Dr Jörg Lux was announced earlier in the year as part of a program to allow HK to respond more quickly and flexibly to consumers.
This initiative will also aim for the “conversion of layers”, reduced set-up times and a stronger focus on customer needs. Hermann Koch will also preserve and expand all of its current production sites in Germany, which currently employ 250 workers.
Dr Thiemo Hagerdorn has a doctorate from the Institute for Tunneling and Contruction Management and is also certified as a public accountant in the US, whilst Dr Jörg Lux studied mechanical engineering and science and worked as a manager for the consulting company Busycom mbH.
Independent financial consulting firm Deutsche Mittelstandsfinanz acted as financial adviser for the transaction to Dr. Schiller Treuhand Steuerberatungsgesellschaft, Heidelberg.
Hermann Koch was founded in 1918 and has manufactured parts for the cosmetics industry since 1929. It produces about 1.2 million parts per day at its Coburg and Straufhain sites and has sales of around 20m per year.