KBA Plans Acquisition in Growing Flexible Packaging Market
Friday, March 01, 2013
Press release from the issuing company
Healthy finances make it possible for Koenig & Bauer AG (KBA) to invest in growth markets. Following the entry into the promising digital print market at Drupa 2012 with an inkjet web press produced at KBA’s main plant in Würzburg, the takeover of Flexotecnica in Tavazzano, near Milan, signals the entry into the growing print market for flexible packaging (especially films). Flexotecnica is a subsidiary of Officine Meccaniche G. Cerutti (OMGC), an Italian company specialized in gravure for packaging and publication with headquarters in Casale Monferrato near Turin.
- With approx. 100 employees Flexotecnica builds and merchandises central-cylinder flexo presses for printing on various flexible packaging materials. So far the Italian company is mainly present in Europe and in some overseas markets. The manufacturing of parts has been completely outsourced. KBA views this planned takeover as an opportunity to expand its strong market position in the folding carton market into a further growing packaging segment by using its own international organisation. The price for the majority stake in the Italian company will be in the high single-digit million euros, following adjustments on the basis of agreed items made on the settlement date. The acquisition has already been approved by the KBA supervisory board. The final takeover by KBA is still subject to conditions which have to be met in the next few months, e.g. review by antitrust authorities. Both parties have agreed not to disclose any further details concerning the takeover at this time.
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