Bobst Group Announces Proposed Acquisition of WIFAG-Polytype Group's Coating Business
MEX, Switzerland — April 4, 2016 — Bobst Group SA, based in Mex, Switzerland, and WIFAG-Polytype Group, headquartered in Bern, Switzerland, have entered into exclusive negotiations regarding a potential acquisition of WIFAG-Polytype’s coating technology business, as part of the Bobst strategy to successfully drive and continuously expand its existing product portfolio. With this acquisition, Bobst intends to leverage the strengths of both companies and to continue growing its coating technology business internationally.
The proposed transaction is subject to the parties reaching a definitive agreement, with the closing of the transaction expected to occur at the end of the second quarter of 2016. Even if a definitive agreement is reached, the transaction may be subject to customary regulatory approvals and potentially other conditions. However, there is no assurance that any definitive agreement will be reached or that the closing of the contemplated transaction will occur.
Bobst is one of the world’s leading suppliers of equipment and services to packaging and label manufacturers in the folding carton, corrugated board and flexible materials industries. Founded in 1890 by Joseph Bobst in Lausanne, Switzerland, Bobst has a presence in more than 50 countries, runs 12 production facilities in eight countries and employs close to 5,000 people around the world. The firm recorded a consolidated turnover of CHF 1.33 billion for the year ended Dec. 31, 2015.
About WIFAG-Polytype Group
WIFAG-Polytype Group is a privately owned international engineering and manufacturing company with its headquarters in Fribourg, Switzerland. The group is a market leader in the production of printing machines for plastic containers and tubes and metal packaging equipment, as well as in the development of high-precision coating and laminating equipment and process solutions for the production of multilayer films and papers. WIFAG-Polytype Group maintains sites in Asia, the U.S. and Europe, and it employs over 800 people worldwide.