Flint Group has issued a binding offer to Siegwerk to acquire its web offset business. This offer includes the transfer of all technical expertise and product portfolios relating to Siegwerk’s Heatset and Newsink product lines.
“We are very excited by this transaction,” said Antoine Fady, CEO, Flint Group. “This commitment guarantees a long term supply position for our heatset and news ink customers and further enhances our strong focus on the print media and packaging markets across the world.”
Siegwerk explains its decision to sell its web offset business is in line with a strategy to focus on its core business in packaging printing; and to further build its market share in inks and coatings for labels and flexible packaging.
“To ensure the lasting success of our company, we need to clearly devote our resources to serving the markets of tomorrow. We will do so by focusing on our core packaging printing business,” said Siegwerk’s CEO Herbert Forker. “It is here where we see significant growth opportunities particularly within the strongly accelerating Asian markets.”
All 76 permanent employees in Siegwerk’s web offset business will be offered a transfer into other areas within their Siegburg site with Flint Group stating it intends to employ a core team from Siegwerk’s web-offset business after the sale.
The Siegwerk publication gravure business, which manufactures printing inks for high-end magazines, catalogues and commercials, will be continued. The company claims to have market share of around 45 percent in Europe in this area.
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