Bosch Packaging Technology has a new name. The company – a former division of Bosch – is now called Syntegon Technology. Syntegon will focus on intelligent and sustainable technologies for the pharmaceutical and food industries.

Bosch announced plans to sell its packaging machinery division to a newly incorporated entity managed by CVC Capital Partners, a private equity and investment advisory firm, last year. The sale completed on 2 January, 2020.

“Syntegon Technology has a strong presence in many market segments, great technological know-how and innovative power,” said Marc Strobel, a partner at CVC Capital Partners. “We want to build on these strengths jointly with management and the entire workforce.”

The new company believes that its independence will enable greater flexibility in the future. Meanwhile, Syntegon plans to improve its processes and invest in a customer and technology centre at its headquarters in Waiblingen, Germany.

Syntegon is also developing two approaches to sustainable packaging. One is to use mono materials rather than conventional multilayer films. The other approach is to use paper packaging as an alternative to plastics.

The name Syntegon stands for synergy, technology and focus on the future. Syntegon Technology employs 6,100 people at more than 30 locations worldwide. It posted E1.3 billion ($1.5bn) in sales in 2019.