Koenig & Bauer(KBA) has finalized a Letter of Intent with Officine Meccaniche G. Cerutti (OMGC) in Casale Monferrato, near Alessandria, Italy for the 100% takeover of its Spanish subsidiary Iberica in Barcelona. Iberica with some 60 staff produces medium and large-format flatbed diecutters for board and corrugated packaging without its own manufacturing facilities and until nowhasmainly been active in Europe and in some overseas markets. The integration into the global KBA sales and service network would greatly improve Iberica’s growth prospects. The planned takeover underscores the
press manufacturer’s focus on the growing packaging market. KBA’s sheetfed segment is the longstanding market leader in folding carton printing. Its international customer base for sheetfed offset presses and diecutters is largely identical. Further details regarding the planned takeover will not be disclosed until negotiations are complete as contractually agreed.
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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