Goss and manroland web systems Intend to Combine
Friday, March 02, 2018
Press release from the issuing company
Business combination for global market presence, broad product range and comprehensive long-term stable customer support in the web printing market
Goss International’s printing press business (“Goss”) and manroland web systems, both manufacturers and service providers of web offset printing systems for newspapers, commercial products and packaging, are planning to combine their complementary businesses. The combined company will benefit from the companies’ complementary geographic footprints, create extensive synergies, ensure long-term viability, and provide value-oriented solutions, especially in the area of aftermarket services. In the future, the new entity will be a strong business partner to all international web printers. Subject to regulatory approval, the merger is expected to be completed by the middle of 2018. The Contiweb business of Goss International is not included in this transaction.
Shaping the future through targeted consolidation of two strong companies
Alexander Wasserman, CEO of manroland: "manroland is on the path for continued success. We want to continue to develop this path by creating synergies, fostering the further development of our R&D activities and strengthening our innovation focus. Our customers will be able to choose from a wider portfolio of products and services." Mohit Uberoi, CEO of Goss stated: "This combination will enable us to achieve extensive synergies that will help us optimally serve our customers into the future. The combination will strive to provide a best-in-class product offering and customer service."
The current shareholders of Goss, American Industrial Partners, and of manroland, Possehl Group (Lübeck), will continue to co-own the combined company.
Combination of innovative product and solution offerings
The new company will rely on the combined expertise of its employees and will further continue its activities in the fields of innovative web printing systems, services, consumables and system components for the newspaper, commercial, packaging and digital printing markets. In addition to the new machinery and service business, the expansion of the business with retrofits and upgrades, and the systematic expansion of e-commerce activities will be major areas of focus.
Implementation of the merger planned by mid-2018
The new combined company with its broad product range will seek to be a strong business partner for all web-fed printers. The common goal is to support the excellent performance of its customers with the best-of-best approach of both Goss and manroland web systems Printing. The combination will not impact any current business of both companies. The transaction is expected to be completed by mid-2018.
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