Jobs impacted as Plockmatic moves production to Latvia
Plockmatic Group will move the majority of its UK assembly operation to a new plant in Latvia as part of the group’s wider growth strategy
Plockmatic Group has purchased Renz, a manufacturer of ring wire binding machines, after it was forced into insolvency in 2024
Plockmatic Group has signed an agreement to acquire Renz, an international producer of ring wire binding machines and supplies headquartered in Heubach, Germany.
Founded in 1908, Renz has been estimated to have clients in more than 80 countries, with offerings including ring wire binding machines for professional and office segments, as well as in-house production of wire binding consumables.
The purchase follows reported difficulties for Renz during the Covid-19 pandemic, which forced it into insolvency proceedings in 2024. The insolvency process is expected to be finalised during Q3 of 2025, with the closing of Plockmatic’s transaction expected to happen in conjunction.
Renz hopes that with Plockmatic Group´s resources, it will be able to continue long-term partnerships with customers and suppliers as well as regain a foothold in the market, including in the UK.
Michael Schubert, chief executive officer of Renz, says: “Becoming part of Plockmatic Group and finding a long-term solution for Renz, following some very challenging years, make us look at the future with confidence again.
“With the insolvency proceedings behind us and access to Plockmatic Group´s resources, we will now be able to invest in new products and continue long-term partnerships with our customers and suppliers.”
Jan Marstorp, chief executive officer of Plockmatic Group, comments: “The acquisition of Renz will be a great opportunity for Plockmatic Group, where we see several opportunities and synergies between our organisations, and to further expand our value proposition as solution provider to our customers.
“With Renz becoming a part of Plockmatic Group, we will also get a strong and local sales organisation in Germany, which we have identified as an important growth market for Plockmatic Group going forward.”
Speaking on LinkedIn following the acquisition, Iain Bullock, managing director of Renz UK, says: “Very pleased and relieved that this is now over the line […] Renz UK can now reaffirm its strong foothold in the UK market.”
Renz is the latest in a line of companies purchased by Plockmatic including Morgana Systems in 2013, KGS in 2016, Watkiss Automation in 2018, and Intec in 2022.
Earlier this year the company announced that all its UK operations would become branded as Plockmatic Group UK, in-turn consolidating the individual Morgana and Intec brands in a similar way as was done with Watkiss Automation and KGS.
Plockmatic Group also recently announced plans to move the majority of its UK assembly operation to a purpose-built manufacturing, assembly, and logistics plant in Latvia.
Morgana, a UK-based subsidiary of Plockmatic, has said that the announcement will impact jobs within its assembly and supply chain in Milton Keynes, Buckinghamshire.
