technotrans has moved into the market for plastics engineering with its takeover of German specialist GWK.

The company is acquiring a 98 per cent interest in Gesellschaft Wärme Kältetechnik, headquartered in Meinerzhagen, for a sum in the "low double-digit millions".

technotrans says by stepping up activities in plastics, it will significantly strengthen its position in the overall market for temperature control solutions.

"With the takeover of GWK, we are accessing further attractive growth areas and creating substantial synergy potential," chief executive Henry Brickenkamp says.

The takeover achieves a strategic objective of earning 50 per cent of consolidated revenue from outside the printing industry. GWK has 380 employees and generated 45 million Euros in revenue last year.

Brickenkamp says GWK's portfolio "ideally complements" technotrans' existing products. Its customers include leading players in the plastics processing industry, plastic machine manufacturers, plant engineering companies and also companies from the automotive, packaging, chemical and food industries.