Finalizes a Letter of Intent with Cerutti Group in Italy

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Giancarlo Cerutti, chairman and CEO of OMGC has commented, “In accordance with the programmes of our Group we have decided to accept the proposal of KBA for the purchasing of 100% Iberica and consequently we have signed a letter of intent. Iberica, which is operating in the ‘sheetfed’ packaging world, is no longer strategic for the current product portfolio of Cerutti Group that is more and more focussed on ‘web’ packaging equipment. We enjoy with KBA an old and consolidated relationship that is based on mutual esteem and cooperation. I’m sure that Iberica will benefit from further possibilities of growth and development at KBA.”  

Claus Bolza-Schünemann, president and CEO of Koenig & Bauer, said, “In the meantime the KBA Group delivers 70% of its presses to companies in the growing packaging market. Sheetfed offset presses from KBA-Sheetfed have an outstanding position worldwide for folding carton printers. With this in mind, adding flatbed diecutters to our portfolio for the same customer group makes perfect sense. The takeover and further development of Iberica through KBA corresponds to the strategic interests of both companies and we are confident that we will soon come to an agreement with the Cerutti Group given our longstanding solid company relationship.” 

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