Arjobex Synthetic Papers has acquired a Germany-based niche manufacturer and coater of specialty papers MDV Group, further expanding its footprint and becoming one of the leading European specialty coatings providers for paper and films in Europe.
Arjobex, a manufacturer of Polyart, a high-end sustainable synthetic paper, acquired 100 percent shares of the MDV Group owned by Krishna and Reichert families, looking for a new investor to ensure the future of the company.
MDV is a niche manufacturer and coater of specialty papers and films for the print, packaging, medical, sign, display, and building industries, operating two coating facilities in Germany and one HDPE blown film manufacturing facility in the UK. MDV is known for its fluorescent papers Fluolux, and synthetic papers, Robuskin and Satinex.
Arnaud Roussel, CEO of Arjobex, said: ‘MDV perfectly fits the Arjobex core business of producing sustainable specialty substrates for niche and growing markets and will benefit from our strong international sales and marketing network in the US and Asia.’
‘MDV is bringing its extended know-how in specialty coatings with over one thousand coating formulations and new coating capabilities that perfectly fit the Arjobex strategy of differentiation through specialty coatings for the graphic and label markets,’ added Stéphane Daveau, deputy CEO of the new group.
‘With Arjobex, we have found the ideal investor to make MDV group even more successful and international,’ added Ashok Krishna, main shareholder of MDV.
With headquarters in France, the new entity will have a consolidated revenue of approximately EUR 65 million with 280 employees throughout six manufacturing sites in Europe and the United States.