March 8th, 2004 - Goss International and Heidelberg reach agreement on major issues for the transfer of Heidelberg's Web Offset press business to Goss.
Upon completion of the consultation process with the workers' councils in France and the Netherlands and the approval of the antitrust organizations, Goss International Corporation intends to acquire Heidelberg's Web Offset Division.
It is expected that this transaction will include Heidelberg's Commercial Web and Newspaper Press activities, as well as the Web Finishing business in the USA.
Heidelberg will become a shareholder in Goss International, holding slightly below 20 percent of the company's shares.
Bob Brown, CEO of Goss International confirmed, "We have respect for the Heidelberg Web Systems team and product portfolio. An acquisition opportunity of this type would assist our efforts to grow our global web press business."
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.