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KBA Acquires Majority Stake in Metronic

Monday, March 01, 2004

Press release from the issuing company

March 1, 2004 -- Würzburg. Following approval by the cartel authorities KBA has now finalised the acquisition announced last November of a 73.9% stake in Metronic, a locally based manufacturer of inkjet, hot stamping, laser and thermal transfer ID devices for industrial applications, plus UV offset printing systems for CDs, DVDs, DCRs and plastic cards. KBA has an option to purchase the remaining shares from company founder Torald L Rohloff. No information on the price is available at present. KBA and Metronic entered an alliance more than two years ago to develop and market the Genius 52, a small-format sheetfed press which unites Metronic’s UV technology for printing on plastic and KBA’s oil-based inking technology for printing on paper and board. This latest acquisition is in line with KBA’s ongoing strategy of diversifying into high-potential niche markets. Melding Metronic’s digital inkjet and laser know-how with KBA’s offset and security press expertise could spark some dynamic advances. The new subsidiary will retain a large degree of independence and flexibility in addressing its established markets, but will be able to call on the parent company’s support in the form of personnel, resources and sales distribution. Reinhart Siewert, KBA’s former president and now a member of the supervisory board, has been appointed chairman, Torald Rohloff vice-chairman. KBA deputy president Claus Bolza-Schünemann is also on the board. For the 2004 business year, in which Metronic will be consolidated in KBA’s group accounts for the first time, the company is targeting sales worth €36m ($46.2m).

 

 

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