The monopolies commissions of Germany and the United States have given final approval to the SIG company near Schaffhausen to take over the plastics technology division of ThyssenKrupp (Krupp Kunststofftechnik).
The new SIG Plastics division will be integrated into the SIG Group as an independent unit.
A company statement said that with this "important" acquisition, SIG had guaranteed its entrance into the extrusion and stretch blow-forming machine market. It added that SIG was intensifying its focus on packaging technology and aimed to develop the fast-growing market for recyclable PET plastics.
"This market is concerned with drinks in particular but also with consumer goods and industrial packaging. The expansion reinforces the strategic reorganisation of the SIG group and its commitment to strengthening the core field of packaging technology," the statement said.
In its last business year Krupp Kunststofftechnik, with 1,700 employees, achieved a turnover of more than SFr380 million.
This unit forms the basis for the new SIG Plastics division which will be extended in the future.
swissinfo with agencies