Durst and Koenig & Bauer sign joint venture agreement for digital packaging printing systems
Durst and Koenig & Bauer have signed a 50/50 joint venture agreement to develop single-pass digital printing systems for the folding carton and corrugated fiberboard industry.
Durst is a manufacturer of advanced digital printing and production technologies. Koenig & Bauer is the world’s second-largest printing press manufacturer.
The signing of the agreement paves the way for the joint development and marketing of single-pass digital printing systems for the folding carton and corrugated fiberboard industry.
The antitrust clearance that is still required from the relevant antitrust authorities before Koenig & Bauer Durst GmbH can be officially established is expected to be granted in the next few weeks.
Business operations should then commence by the end of May and a managing director will be appointed.
Koenig & Bauer Durst GmbH will have its registered office in Würzburg and cooperate closely with both parent companies’ global network. Initially, the joint venture portfolio will comprise the Koenig & Bauer CorruJET 170 and the Durst SPC 130 – including all associated services and the ink business, as well as the development of the VariJET 106.
Durst Group CEO Christoph Gamper commented: ‘It was a short path from letter of intent to official signature because the negotiations had already been conducted in a spirit of genuine cooperation. We want to work efficiently and purposefully towards a common goal – tapping the huge potential that digital production lines offer for the packaging industry.’
Claus Bolza-Schünemann, Koenig & Bauer CEO, added: ‘Koenig & Bauer Durst will combine different key technology areas and market expertise to perfect effect. I am convinced that the joint venture will benefit from the spirit embodied by both companies and that something really special is emerging here. The packaging industry is looking for new, more efficient production opportunities and Koenig & Bauer Durst will supply the necessary digital solution.’
Koenig & Bauer and Durst have previously entered into a strategic partnership to advance the development of future-oriented digital printing technology.