- Signals press manufacturer’s foray into flexible packaging
- Takeover approved by KBA board but still subject to conditions
German press manufacturer Koenig & Bauer is to takeover Italy’s Flexotecnica as it signals its intent to target growth markets.
Flexotecnica is based in Tavazzano, near Milan, and is a subsidiary of Officine Meccaniche G. Cerutti, an Italian company specialized in gravure printing for packaging and publications.
Flexotecnica builds and sells central-cylinder flexo presses for printing on various flexible packaging materials. So far the Italian company is mainly present in Europe and in some overseas markets.
KBA has already stated its intent to move into growth markets, and the acquisition of Flexotecnica is the company’s first move into the growing market for flexible packaging.
The company launched an inkjet web press at Drupa last year.
Along with gravure, the CIC flexo presses offered by Flexotecnica are very popular in this segment of package printing. The new variable-format Varius 80 web offset press from KBA-MePrint unveiled at Drupa 2012 also targets this growth market, for shorter runs in particular
KBA views this planned takeover as an opportunity to expand its strong market position in the folding carton market into a further growing packaging segment by using its own international organization.
The price for the majority stake in the Italian company will be in the high single-digit million Euros, following adjustments on the basis of agreed items made on the settlement date.
The acquisition has already been approved by the KBA supervisory board, and the final takeover by KBA is still subject to conditions which have to be met in the next few months.
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