Munich/Bomlitz - September 03, 2008
The ADCURAM Group AG has successfully concluded its purchase of the CaseTech Group. The contracts with the Dow Chemical Company for the acquisition of this well-known German supplier of high-quality casings for sausage products have been signed and come into effect on September 1, 2008. This brings the complete company group, with four sites in Germany, Poland and the USA, into the Materials/Special Chemicals Division of the ADCURAM industrial group. All of the around 400 employees have been retained.
The company is managed by Juergen Schuh und Robert Kafka. ADCURAM intends to develop CaseTech further as a strong medium-sized quality and innovation leader. The product range will be extended through an investment program, the international sales and service basis strengthened and business in growth regions will be further promoted. In the mid-term, complementary acquisitions may be considered.
Juergen Schuh, CEO of CaseTech GmbH, is focusing on continuity: “CaseTech has for many years represented innovation, state-of-the-art manufacturing, and the highest quality. With its Walsroder casing, this well established company has a strong brand. Our growth strategy will build on this.” Mr. Schuh also makes a clear commitment to the Bomlitz location: “The Bomlitz facility is a fixed factor in our plans” he continues. “We will continue to manufacture there while maintaining the highest safety standards.”
CaseTech will also profit from the expertise of the ADCURAM Group AG. It belongs to the Materials/Special Chemicals Division, but in the future – more so than in the past – it will develop as an independent company in the marketplace. Experts from the ADCURAM industrial group will actively support CaseTech management at a local level. Dr. Florian Meise, board member and co-owner of ADCURAM, explains: “The CaseTech Group is from now on fully responsible for its operational business. We see our responsibility primarily as offering long-term backing for the company, and by so doing, further developing the high degree of potential that already exists.” He goes on: “The industry is facing consolidation. This gives CaseTech excellent opportunities to extend its position on the market. As an owner-run industrial group, ADCURAM offers the ideal platform to achieve this.”
CaseTech stems from the casings division of Dow Wolff Cellulosics GmbH (previously Wolff Walsrode AG) and is a long-established supplier of high-quality casings for sausage products and a provider of technology services to sausage product manufacturers in the industry and trade sectors. The CaseTech Group employs a staff of around 400, with worldwide revenues of 50 million euros in 2007.
About the ADCURAM Group AG
ADCURAM is an international, privately owned and fast growing industrial group. The group invests in the area of manufacturing and manufacturing-related services. Currently, ADCURAM employs more than 2,500 employees world-wide. The circle of subsidiaries includes the DURAN Group, the IMA Klessmann Group and the Hennecke Group. The DURAN Group transaction was awarded the prize of being the “Top deal of 2005” by the National Association of Mergers & Acquisitions.
The holding company ADCURAM Group AG actively develops the group: It actively pursues acquisitions in both current and new industries. In addition, an ADCURAM expert team supports the group companies with regard to operational improvement initiatives, growth strategies, and complementary acquisitions. With this active strategy, ADCURAM will continue its strong and profitable growth both in current and new areas.
ADCURAM is independent from short-term financing sources. Acquisitions are supported by the group´s financial strength and financial commitments of its private owners. Hence, ADCURAM can follow a long-term entrepreneurial strategy. ADCURAM is owned by four families, and is led by the families´ representatives who embody the ADCURAM entrepreneurial vision.
About Dow Wolff Cellulosics
Dow Wolff Cellulosics is a business unit of The Dow Chemical Company. With 2200 employees it is the world’s largest supplier of water-soluble cellulose derivatives, operating state-of-the-art production and R&D facilities. Our products perform key functions in markets such as food, personal care, pharmaceuticals, construction materials, paint and many other markets in a vast variety of applications.
As a leader in process technology and application expertise, we are trendsetters with our cellulosics additives in many different end-uses. By providing high product quality and excellent customer care we intend to continue our above-average growth strategy and to meet the future requirements of our customers’ markets.
About Dow
®™* Trademark of The Dow Chemical Company ("Dow") or an affiliated company of Dow
For Editorial Information:
Eberhard Wuehle
The Dow Chemical Company
+49 (0) 5161 44 2203
Yvonne Lange
ADCURAM Group AG
+49 (0)89.20 20 95 90
