Flint Group Issues Binding Offer to Siegwerk to Purchase Web Offset Business
LUXEMBOURG — February 17, 2016 — Flint Group, a global solutions provider to the packaging and print media industries has announced that it 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,” remarks 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, pressroom chemicals and transfer media products."
He continued, "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,” commented 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 the 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, catalogs and commercials, will be continued. Its long-standing expertise and high market share of around 45% 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 its organizational affairs independently and without impact to customers, employees or suppliers.
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, platemaking equipment and flexographic sleeve systems; pigments and additives for use in inks and other colorant applications. Flint Group also designs, develops and delivers webfed digital color 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, service and 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 6,800 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.
Siegwerk, a family-owned company in its sixth generation, is one of the leading global printing ink manufacturers for packaging—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 Dec. 31, 2014, Siegwerk employed approximately 4,800 employees in more than 30 countries.
Source: Flint Group.