Zurich, Switzerland – FoamPartner is for sale as Swiss holding company Conzzeta, has decided to sell all but its metalworking interests.
Conzzeta expects to find a new owner for FoamPartner within a year. The business employs 11,000 people following the purchase of Otto Bock Kunststoff in 2017.
'The Board of Directors believes the expected market consolidation is an opportunity to take FoamPartner from its newly created position into a value-enhancing solution under new ownership,' said Conzzeta in a statement.
Michael Willome is Group CEO of Conzzeta. He said that the decision came after the group 'focused on the question of whether we have leading global market positions of critical size or whether we could build them within a reasonable timeframe.'
Conzetta share holders have been promised a share of the expected excess liquidity the sales process will generate.