Flint-Schmidt divests metal decorating business

Flint-Schmidt has announced that the company has agreed to the sale of its metal decorating business. Buyers are the senior management of the division, financed by an industrial investor group and Handelsbanken. The new company will be led by Jan Koivula, who has been heading the metal dec business of Flint-Schmidt for three years.

The transaction includes the purchase of Flint Ink Sweden AB, the metal dec division producing out of the mother plant factory in Helsingborg, the service center and in-plant operations around Europe. The sale price was not disclosed. As part of the agreement, approximately 60 employees will move from Flint-Schmidt to the new company.

In a complementary transaction, a letter of intent (LOI) was signed between the new company and XSYS Print Solutions to acquire XSYS’s metal deco business, formerly known under the brand name, Lindgens,  

‘By buying the metallic inks and coatings businesses from both Flint-Schmidt and XSYS, we are creating a group purely focusing on metal decorating,’ said Jan Koivula, Managing Director of the new corporation. ‘We will continue to offer our customers a broad range of coatings and inks for metal packaging. Robust, high-quality products and excellent services will be the key differentiators of our new enterprise.’

A name for the new company has not been announced.

Dr. Helmut Schmidt, former CEO of Flint-Schmidt and new CEO of the recently combined group of Flint Ink and XSYS Print Solutions in Europe, stated: ‘The sale of our metal decorating business is part our corporate strategy to focus on an integrated offering for the print media and packaging industries. This transaction was an important step in our process of realigning our portfolio. I trust that Jan Koivula will achieve a premium market position for this business and continue to deliver value to his customers.’