KAUTEX TEXTRON: Textron group considers sale of fuel tank and blow moulding specialist -- K Trade Fair

08/14/2019

Plastics News by Plasteurope.com

KAUTEX TEXTRON: Textron group considers sale of fuel tank and blow moulding specialist

US multi-industry group Textron (Providence, Rhode Island; www.textron.com) is examining strategic alternatives for its fuel tank and blow moulding specialist, Kautex Textron (Bonn / Germany; www.kautex.de). According to Textron CEO Scott Donnelly, the possible options include the divestment or stock market flotation of the company, which forms part of the conglomerates Industrial segment. He did not give any timeframe for a decision.

This seems to prove that the radical changes occurring in car production could cause suppliers specialised in air intake systems and fuel/coolant transport to get into difficulties if electric drive systems replace combustion engines in the medium term see Plasteurope.com of 09.04.2019.

Kautex has 31 locations in 14 countries worldwide. Its products include fuel systems, selective catalytic reduction (SCR) systems and other tank solutions as well as industrial packaging such as IBC inserts. Sales in 2018 amounted to around USD 2.3 bn (just under EUR 2.1 bn).

The former sister company of Kautex Textron, blow moulding machinery manufacturer Kautex Maschinenbau (Bonn / Germany; www.kautex-group.com), is also feeling the crisis in the automotive industry. In March 2019, the company reacted to the fall in incoming orders with job cuts.

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