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Flint Group Issues Binding Offer to Siegwerk to Purchase Web Offset Business
“We are very excited by this transaction,” says Antoine Fady, CEO, Flint Group. “This investment confirms our long term commitment to customers in these key market segments and re-enforces our unique offering to the market of inks, press room chemicals and transfer media products.
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’s decision to sell its web offset business is in line with its strategy to focus on its core business in packaging printing, which is growing globally, and to further build its market leadership in inks and coatings for labels and flexible packaging where the company sees significant potential.
“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,” says 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 intending 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. Its long-standing expertise and high market share of around 45 percent in Europe give Siegwerk an exceptionally strong market position in this area.
Siegwerk will work closely with Flint Group to ensure that any handover of business is completed without disruption and that the same products and services for the customers of both companies are maintained throughout.
Completion is still subject to customary closing conditions, including approval by the competition authorities. Until such time as approval is granted to proceed, Flint Group and Siegwerk will remain separate entities and continue to manage their organisational affairs independently and without impact to customers, employees or suppliers.
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About Flint Group:
Flint Group is dedicated to serving the global printing and packaging industry. The company develops, manufactures and markets an extensive portfolio of printing consumables and printing equipment, including: a vast range of conventional and energy curable inks and coatings for most offset, flexographic and gravure applications; pressroom chemicals, printing blankets and sleeves for offset printing; photopolymer printing plates and sleeves, plate-making equipment and flexographic sleeve systems; pigments and additives for use in inks and other colourant applications; Flint Group also designs, develops and delivers web-fed digital colour presses for labels and packaging applications, document printing, as well as commercial printing as well as platemaking equipment for the newspaper industry and computer-to-plate (CtP) solutions for the commercial printing market; With a strong customer focus, unmatched service and support, and superior products, Flint Group strives to provide exceptional value, consistent quality and continuous innovation to customers around the world. Headquartered in Luxembourg, Flint Group employs some 6800 people. Revenues for 2014 were € 2.1 billion. On a worldwide basis, the company is the number one or number two supplier in every major market segment it serves. For more information, please visit <link http: www.flintgrp.com _blank external-link-new-window the website in new>www.flintgrp.com
Siegwerk, a family-owned company in its 6th generation, is one of the leading global printing ink manufacturers for packaging of any kind as well as newspapers, high-end magazines and catalogs. With more than 180 years of experience, the company commands a profound product knowledge and expertise for many printing methods. Due to a global production and service network, customers benefit from a globally consistent and high quality level of Siegwerk’s products, solutions and services. With its philosophy “Ink, Heart & Soul“, the company aims for long-term relationships with its business partners. As of December 31, 2014, Siegwerk employed approximately 4,800 employees in more than 30 countries. Further information can be found at <link internal-link the siegwerk website in current>www.siegwerk.com