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Heidelberg Confirms Exploratory Talks with Goss

Press release from the issuing company

September 11, 2003 -- (WhatTheyThink.com) -- A Heidelberg spokesperson yesterday confirmed that the company was in discussions with Goss about the future of its web operations. Specific details were not available, but it was the first acknowledgment that such talks were in progress. Over the past few months, speculation has been abundant among industry pundits and competitive suppliers regarding Heidelberg’s plans for its newspaper and web division. Hans-Dieter Siegfried, Corporate Communications at Heidelberger Druckmaschinen AG told WhatTheyThink.com that the discussions were open-ended with no timeframe for when or even if a deal would be completed with Goss. Siegfried said he was aware of many of the rumors about the possible outcome of the talks but declined to comment further. The Goss name is well-known as a global manufacturer of web offset press systems for the newspaper and commercial printing industries. The company also has a history with financial woes - emerging from bankruptcy just last year with backing from CSFB Global Opportunities Partners, JPMorgan Chase Bank, LBI Group, and DK Acquisition Partners. In June 2002, Goss appointed Robert A. Brown as Chief Executive Officer. He was former President and CEO of Heidelberg Web Systems.