January 31, 2003 --With effect from January 31, 2003, Heidelberger Druckmaschinen AG (Heidelberg) will take over the folding-box activities of the Jagenberg Group, Dusseldorf. The companies involved are Jagenberg DIANA GmbH in Neuss, which manufactures folding-box and corrugated board gluers, and Woschnik + Partner Maschinenbau GmbH, which produces diecutting machines in Mönchengladbach. The third company is Jagenberg Slovensko Spol. S.r.o. in Nové Mesto nad Váhom (Slovakia), which supplies the two other firms with mechanical components and pre-assembled modules. The majority share of the Jagenberg Group is held by Rheinmetall AG. Annual sales are Euro 40 million, and the three companies together currently employ a total workforce of 372. The partners have agreed not to publicize the takeover conditions. “This takeover fits in perfectly with our strategy of strengthening and expanding our finishing operations”, explains Bernhard Schreier, Chairman of Heidelberg’s Management Board. “With these folding-box gluers and diecutting machines, we will be closing a gap in our portfolio and can therefore offer our customers extended solutions on the key growth market of packaging printing”, continues Schreier. The global market for packaging printing presses is currently estimated at Euro 1 billion. In terms of packaging presses, Heidelberg holds a world market share of just under 20%,. “In Heidelberg, Jagenberg has found an internationally acclaimed partner whose strong market position among printshops and finishing shops will bring excellent development and marketing opportunities for the companies we have sold”, says Dr. Andreas Beyer, Chairman of the Executive Board of Jagenberg AG. The global annual market volume for folding-box gluers and diecutting machines is estimated at around Euro 600 million. The acquisition has enabled Heidelberg to increase its share to around eight percent. “Our aim is to double this share in the next few years”, says Dr. Jürgen Rautert, who is responsible for Heidelberg’s Postpress Division. “The Eco and Diana series of folding-box gluers and the punches from WPM all enjoy an excellent reputation in the industry and are extremely high-tech. In close cooperation with our packaging specialists in sheetfed printing, we intend to continuously enhance customer benefits through intelligently linked systems”. Heidelberg now offers diecutting machines in the popular III, IV and VI formats. Folding-box and corrugated board gluers are available in different processing widths and are augmented by suitable feeders and deliveries that can convert folding boxes into transport packaging, for example.