Bobst Group SA Intends to Buy the Converting Activities of Metso Corp
Press release from the issuing company
Bobst Group SA, Prilly, Switzerland, has signed a Memorandum of Understanding about the acquisition of the converting activities of Metso Corporation, Helsinki, Finland. Metso Corporation is a supplier of process industry machinery and systems for the pulp, paper, rock and mineral industries. Negotiations and the due diligence process are expected to be completed by the end of the first quarter of 2003. The relevant regulatory approval processes will be initiated subsequently.
This planned acquisition is in line with the strategy of Bobst Group to expand its activities in the flexible packaging industry.
The main activities of Metso's Converting group are located in England (Titan, Atlas, General) and in Italy (Rotomec). Net sales of the business group totaled Euro 176 million in 2001. The number of employees is approximately 800. Metso's Converting group offers its customers rotogravure and flexographic printing presses, coating and laminating machines, slitters and sheet cutters.
Bobst Group is an important supplier of products and services for the folding carton, corrugated board and flexible packaging industries. A wide range of products, manufactured in various countries, is marketed through a dedicated sales and service network with offices in more than 50 countries. Bobst Group SA is listed on the SWX Swiss Exchange.
WhatTheyThink is the global printing industry's leading independent media organization with both print and digital offerings, including WhatTheyThink.com, PrintingNews.com and WhatTheyThink magazine versioned with a Printing News and Wide-Format & Signage edition. Our mission is to provide cogent news and analysis about trends, technologies, operations, and events in all the markets that comprise today’s printing and sign industries including commercial, in-plant, mailing, finishing, sign, display, textile, industrial, finishing, labels, packaging, marketing technology, software and workflow.