Baldwin Acquires Hildebrand Systeme GmbH
SHELTON, CT—April 11, 2007—Baldwin Technology Company, Inc. (AMEX: BLD), a global leader in accessories and controls technology for the printing industry, announced today that it has acquired Hildebrand Systeme GmbH in Switzerland, a leader in the field of high performance web cleaning. The terms of the transaction were not disclosed.
Baldwin Technology’s President and Chief Operating Officer Karl S. Puehringer said, “This acquisition is the logical result of the very successful partnership that has been developed between Baldwin and Hildebrand. That relationship, first started in March of 2005 when Baldwin Jimek became the exclusive global marketer and distributor of Hildebrand’s web cleaning systems, has proven so beneficial to both companies that we decided to combine them to consolidate the marketing and operating strengths. Further, the Hildebrand owner/management team has demonstrated their support for the venture with their agreement to remain with Baldwin and continue to expand and grow the business.”
Hildebrand’s Managing Director Christian Trimborn added, “The Hildebrand web cleaning technologies, distributed under the trade names Jetstream and Jetvac, are important additions to Baldwin’s existing product range of cleaning systems. Baldwin, the leading global automatic blanket cleaning supplier can now offer cloth, brush and web cleaning capabilities to OEM press manufacturers and printers worldwide.”
Baldwin’s Chief Financial Officer John Jordan concluded, “Hildebrand has had vigorous growth with good margins in the last two years. We expect this addition to help Baldwin further define the market in cleaning and become a strong contributor to future sales and income growth.”
Baldwin Technology Company, Inc. is a leading international supplier of offset printing press accessories and controls for the newspaper publishing and commercial printing industries. Baldwin offers its customers a broad range of market-leading technologies, products and systems that enhance the quality of printed products and improve the economic and environmental efficiency of printing presses. Headquartered in Shelton, Conn., the company has sales and service centers, product development and manufacturing operations in the Americas, Asia and Europe. Baldwin’s technology and products include cleaning systems, fluid management and ink control systems, web press protection systems and drying systems. For more information, visit http://www.baldwintech.com.