Leverkusen, Germany-Bayer MaterialScience has confirmed that it plans to divest its machinery-making subsidiary Hennecke GmbH by the end of 2007.
Hennecke, headquartered in Sankt Augustin near Bonn, Germany, is a specialist in polyurethane mixing and dispensing machines, presses, and other PU processing equipment. It has been part of Bayer for over 30 years.
According to a BMS statement, its plan to find a "strategic partner" for Hennecke will ensure the machine maker's continued growth. "In an appropriate partnership, Hennecke stands to continue its successful role as a globally acknowledged specialist in the areas of polyurethane chemistry, process technology and machinery," BMS said.
A Bayer spokesperson pointed out that it is no secret that "Hennecke doesn't fit with our core business, which is-in terms of polyurethanes-the manufacture of raw materials." B
MS's statement on its plans said that 60-year-old Hennecke has "built a reputation as the global market leader in highly sophisticated PU equipment, especially in the areas of slabstock, refrigeration appliances, sandwich panels and automotive components."
Hennecke, which also has units in Shanghai, China and Singapore, employs 55 in total.
While BMS is seeking a buyer for the company, its spokesperson indicated that the group will continue cooperating with Hennecke to promote developments in the polyurethanes sector.
Hennecke's turnover for 2005 was $113 million, making it the third largest supplier globally of PU machinery, only just behind Krauss-Maffei Kunstofftechnik GmbH with $115 million in PU sales. Meanwhile, Cannon Group, with PU equipment sales of $150 million, topped the list of machinery suppliers into the sector, according to Urethanes Technology's 2006 survey.
PIC: Hennecke's versatile composite spray moulding process, used to make, for example, fibre-reinforced supports for bathtubs. "