Siegwerk Confirms Transfer of its Web Offset Business to Flint Group
Siegwerk Druckfarben AG & Co. KGaA and Flint Group have received approval from the competition authorities to complete the planned transfer of Siegwerk’s heatset and news ink product lines to Flint Group.
Effective from June 30, Flint Group, a global supplier to the packaging and print media industries, will take over Siegwerk’s web offset business. Technical expertise and product portfolios relating to Siegwerk’s heatset and news ink product lines will be transferred and, as a result of the acquisition, Siegwerk will no longer be involved in the web offset market. As part of a toll manufacturing agreement, Siegwerk will manufacture on behalf of Flint Group for the next three to six months to support a smooth transition for customers.
The transaction enables Siegwerk to pursue its long-term strategy of focusing on its core business in packaging printing, which is growing globally. The company sees significant potential in inks and coatings for labels and flexible packaging and, therefore, is making every effort to further expand its market leadership in this area. Siegwerk’s publication gravure business, which manufactures printing inks for high-level magazines, catalogs and commercials, will be continued.
Both parties have agreed not to disclose any financial details.
(515) 471-2100; www.siegwerk.com
(734) 781-4600; www.flintgrp.com