Baldwin to Acquire Nordson UV
Tuesday, June 15, 2010
Press release from the issuing company
SHELTON, Conn. -- Baldwin Technology Company, Inc., a global leader in process automation technology for the printing industry, today reported that it has agreed to purchase Nordson UV Ltd., a wholly owned subsidiary of Nordson Corporation that provides UV curing systems used in the graphic arts. Nordson will retain its industrial UV curing product lines.
President and CEO Karl S. Puehringer commented: "We have had a mutually beneficial alliance with Nordson for several years, so this combination is a logical step in that relationship. Adding UV capabilities to the Baldwin product portfolio is exciting, because the technology is complementary to Baldwin's, and it will enable our customers to partner with a single source for both IR (infra-red) drying and UV (ultraviolet) curing on both offset and digital printing."
"Nordson UV has a strong position in the UV graphic arts market segment, selling products under the Nordson UV, Horizon and Primarc brand names." Puehringer continued, "The demand for UV applications has been growing in both traditional offset printing and the expanding digital ink jet space, due to the variety of finishes and special effects UV curing provides, the instant curing ability, improved quality of the printed product and the environmentally-friendly absence of VOC emissions."
"Nordson's consumables (UV lamps and parts) and service business also helps Baldwin carry out its strategy of expanding its recurring revenue, adding uniformity to revenue expectations. The acquisition expands our broad product range to further leverage our global presence to deliver value to our customers around the world, and UV curing in the ink jet printing sector will accelerate Baldwin's expansion into the faster-growing digital market."
"We expect the acquisition to be immediately accretive to operating results, and the well-developed Nordson UV organization will make a valuable contribution to Baldwin's operations. We warmly welcome the new employees to Baldwin." concluded Puehringer.
The Nordson UV business will bring 79 employees based at their Slough, England headquarters operation, the Horizon Lamps, Inc. manufacturing location and in sales and service operations in other locations around the world.
The transaction is expected to close by June 30. Nordson UV Limited will be renamed Baldwin UV Limited and will do business under the Baldwin UV, Horizon and Primarc brand names. Other terms of the deal were not disclosed.