Siegwerk confirms transfer of its web offset business to Flint Group
Siegwerk Druckfarben AG & Co. KGaA, one of the leading international suppliers of printing inks for packaging applications, labels and catalogs, and Flint Group, a global solutions provider to the packaging and print media industries, have received approval from the competition authorities to complete the planned transfer of Siegwerk’s Heatset & Newsink product lines to Flint Group.
Upon completion of the acquisition effective from June 30, 2016, Flint Group will take over Siegwerk’s web offset business. Technical expertise and product portfolios relating to Siegwerk’s Heatset and Newsink product lines will be transferred. As a result of this acquisition, Siegwerk will no longer be involved in the web offset market. As part of a toll manufacturing agreement, Siegwerk will manufacture on behalf of Flint Group for the next three or six months to support a smooth transition for customers.
This transaction enables Siegwerk to pursue its long-term strategy of focusing on its core business in packaging printing, which is growing globally. The company sees significant potential in inks and coatings for labels and flexible packaging and therefore is making every effort to further expand its market leadership in this area.
The transaction only includes Siegwerk’s web offset business. Its publication gravure business, which manufactures printing inks for high-level magazines, catalogs and commercials, will be continued. The company’s longstanding expertise and high market share of around 45% in Europe give Siegwerk an exceptionally strong market position in this area.
The parties have agreed not to disclose any financial details.