PSI makes double acquisition

Sydetikett is one of Sweden's largest digital label printing facilities, while fellow Norwegian firm Etikett-Produsenten is a specialized commercial printing company aimed at small and medium circulations.

PSI Group said the acquisitions complement its existing commercial printing operations and will make PSI a dominant player in retail and industrial labels in Scandinavia.

The cost of the combined deals was around $7.6 million.

PSI Group chief executive officer Jørgen Waaler (pictured, top) said: ‘These transactions further strengthen our foothold within and commitment towards the labeling industry, and will lift our label division's turnover to about MNOK 150 ($17.7 million).

‘In addition, we expect significant synergies when these four companies begin to coordinate sales/marketing, machinery/investment and operating costs in a focused product area, PSI Label Solutions within our Retail Solutions business area.’