April 5, 2016 By PrintAction Staff
Bobst Group SA and WIFAG-Polytype Group, both of Switzerland, have entered into what the companies describe as exclusive negotiations with regard to Bobst acquiring WIFAG-Polytype’s coating technology business.
The proposed transaction is subject to the parties reaching a definitive agreement, with the closing of the transaction expected to occur at the end of the second quarter of 2016. The transaction would also be subject to customary regulatory approvals.
WIFAG-Polytype Group is a privately owned international engineering and manufacturing company with headquarters in Fribourg, Switzerland. The group focuses on the production of printing machines for plastic containers and tubes and metal packaging equipment, as well as in the development of high-precision coating and laminating equipment and process solutions for the production of multilayer films and papers. WIFAG-Polytype Group maintains sites in Asia, U.S., and Europe and employs more than 800 people worldwide.
Bobst is one of the world’s leading suppliers of equipment and services to packaging and label manufacturers in the folding carton, corrugated board and flexible materials industries.
Founded in 1890 by Joseph Bobst in Lausanne, Switzerland, Bobst generated around $1.8 billion in revenues in its most recent fiscal year and has a presence in more than 50 countries, runs 12 production facilities in eight countries and employs close to 5,000 people.
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