August Koehler Takes Over Katz Group
Oct. 2, 2009 - German specialty paper producer August Koehler said that as of October 1 it has taken over the Katz Group, based in Weisenbach, Germany.
Katz Group on April 14, 2009 filed for insolvency.
Katz produces board and is best known in Europe for producing beer coasters
We are happy to be able to guarantee the continued existence of a company so rich in tradition, to be able to offer the employees long-term perspectives and to give the region decisive impulse, said Kai M. Furler, CEO of the Koehler Paper Group.
Koehler said that Katz will retain the status of an independent company and that all Katz Group locations, with the exception of Großschirma in Saxony, will be retained.
The range of products, including beer coasters, pizza boxes and other products for the packaging industry will also remain unchanged, Koehler added.
Koehler said that it plans to invest six to eight million Euros in the company over the next couple of years.
"Through investments and modernization we will raise production and turnover to 3.2 billion beer coasters in the next two years, said Werner Ruckenbrod, COO of Koehler Paper Group.
Daniel Bitton has been named as the new managing director.
SOURCE: August Koehler AG