Pallmann Industries withdrawn from BP Recycling Systems acquisition
Pallmann Industries, a German size reduction and processing technologies supplier, announced the decision to withdraw its acquisition of BP Recycling Systems in Switzerland.
The acquisition was announced back in April 2013. As the technology acquisition was not brought to a conclusion Pallmann Industries wishes to clarify the current situation in order to prevent any further misunderstandings in the market.
Rolf Gren, General Manager of Pallmann Industries, said, "Although at the time of the announcement in 2013, Pallmann had every intention of proceeding, but a number of organizational and technological reasons for both parties caused the Pallmann Industries to reverse its decision."
"Pallmann Industries apologizes for any possible harm that may have been caused to BP Recycling System GmbH by any uncertainty in the market."
