Bosch name changes to Syntegon Technology
Syntegon Technology is the new name for Bosch Packaging Technology, with a business focus is on technologies for the food industries. Extending the service range is a priority for the company, it says. Syntegon Technology employs 6,100 people at more than 30 locations worldwide. It posted €1.3 billion in sales in 2019. Bosch Packaging Technology expanded its headquarters in Waiblingen, Germany, augmenting it with new departments required for the switch, before the year end.
Bosch disclosed its plans to sell the packaging machinery division to a newly incorporated entity managed by CVC Capital Partners, a private equity and investment advisory firm, in July 2019. The transaction was completed according to plan, with the company gaining full independence at the turn of the year.
The new owner, CVC, aims to develop the company as a whole and expand intra-group synergies. Commenting on the closing of the sale, Marc Strobel, a partner at CVC Capital Partners says, “CVC is delighted to see the transaction completed on schedule. Syntegon Technology has a strong presence in many market segments, great technological know-how, and innovative power. We want to build on these strengths jointly with management and the entire workforce.”
The new corporate brand has been developed over the past few months, the company says. The name Syntegon stands for synergy, technology, and focus on the future. The new corporate colour green underscores the importance of sustainability and health. The square in the newly designed logo symbolises a package, as well as packaging technology’s ability to protect products.