MALMESBURY, 15 January 2018.
Greenacres Holdings (Pty) Ltd has aquired the controlling shares in the Greenacres-Baeumer Cutting Tools manufacturing JV based in Malmesbury, Western Cape, South Africa. The decision has been taken to broaden the base activities to other industrial sectors where precision cutting tools are in use, going beyond the limited focus in technical foam converting applications.
"We are grateful for the many years of manufacturing collaboration with Albrecht Bäumer Gmbh & Co KG and wish them well in their future endeavours",commented CEO Des Green. Negotiations to aquire the remaining shares in the business are ongoing. The company will continue to support and service all client equipment installations including the provision of spare parts and components.