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The renaming comes after the sale of Bosch Packaging Technology to CVC Capital Partners was completed on Jan. 2, 2020.
On Jan. 16, 2020, Bosch Packaging Technology, a German process and packaging technology provider, announced it is becoming an independent enterprise and will be renamed Syntegon Technology, which stands for synergy, technology, and focus on the future.
The renaming comes after the sale of Bosch Packaging Technology to CVC Capital Partners was completed on Jan. 2, 2020, according to a Syntegon press release.
“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,” said Marc Strobel, a partner at CVC Capital Partners, in the press release.
Now that the sale has been completed, the company plans to expand its services by adding new departments to its headquarters location, investing in a customer and technology center, and pursuing new approaches to sustainable packaging by using mono-materials rather than conventional multilayer films and paper packaging as an alternative to plastic.
“We are building on 150 years of experience and the 64,000 machines deployed by our customers, and pursuing new avenues of business,” said Stefan König, chairman of the executive board, Syntegon, in the press release. “Now, more than ever before, we are working on intelligent and sustainable technologies and embracing the collaboration with our business partners in the true spirit of partnership.”