By Jon Robinson
Flint Group today signed an agreement to acquire Torda, a manufacturer of printing inks for packaging markets in Northern and Eastern Europe, the Balkans and the Middle East. In 2009, Torda generated revenues of approximately €23 million.
According to Flint, this acquisition represents the company’s third step taken in the past 12 months to expand into Eastern European markets. In 2009, Flint Group acquired the Russian packaging ink manufacturer and distributor Premo Inks. In January 2010, Flint Group announced the expansion to its packaging inks operation in Poland.
“We are delighted about the agreement with Torda. The company’s
business model and performance is an excellent fit for our strategy,”
stated Dr. Dirk Aulbert, President of Flint Group’s Packaging and
Narrow Web division, in a press release. “Torda’s setup, especially in
Eastern Europe, the Balkans and the Middle East, ideally complements
and expands our network of manufacturing and service facilities into
these growth markets.”
The transaction is expected to close by the end of March 2010.