Manz AG Successfully Completes Sale of Hungarian Subsidiary

Reutlingen, July 24, 2024 - Manz AG, a global high-tech mechanical engineering company, has completed the sale of its subsidiary Manz Hungary Kft in Debrecen. The shares were sold to Harro Höfliger Verpackungsmaschinen GmbH. All necessary conditions for the transaction were met.

Manz Hungary Kft. specializes in machining and welding large-format objects, CNC milling and turning, and assembling components and machines. The sale optimizes Manz AG's production structure and enhances flexibility. Manz AG will receive EUR 8 million from the transaction, strengthening its liquidity.

Martin Drasch, CEO of Manz AG, thanked the employees for their achievements over the past 20 years and expressed eagerness for future cooperation with Harro Höfliger's new management. Thomas Weller, CEO of Harro Höfliger, highlighted the acquisition as a crucial step for expanding production capacities within the EU. All 160 employees will be retained.