The Netherlands – Recycling technology specialist Bollegraaf has sold a majority of its shares to ABN AMRO. Ceo and founder of the company Heiman Bollegraaf says he made this business decision because of his upcoming retirement.
The acquisition by the Dutch bank was completed on 18 November. Bollegraaf has stated that the new shareholders intend to ‘strengthen the position of the Bollegraaf Recycling Solution Group and to enable further growth’. Also, it was announced that Edmund Tenfelde will be the new managing director of the company. He thus succeeds Bollegraaf, who will stay on as business development director.
In this position, he will focus on expanding the international customers network of family businesses and product development. Bollegraaf was established in 1961 to manufacture vertical baling presses in the town of Appingedam. Its turn-key solutions are now represented in most European countries as well as Asia, North America and Australia.
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