Product category:
Printing Presses Ancillary Equipment
News Release from: Baldwin Technology Company Inc
Edited by the Printingtalk Editorial
Team on 06 October 2006
Baldwin Acquires Printing Accessories
Business
Baldwin Technology Company has signed a definitive agreement to acquire Oxy-Dry Corporation.
Baldwin Technology Company has signed a definitive agreement to acquire Oxy-Dry Corporation The acquisition by Baldwin is expected to close within 30 days, subject to customary closing conditions
This article was originally published on Printingtalk on 9 Feb 2004 at 8.00am (UK)
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Oxy-Dry Corporation, a privately held company with annual sales of approximately US$38,000,000, produces accessories and controls for the printing industry.
The company has a worldwide customer base with products installed in the sheetfed, commercial web, packaging and newspaper markets.
Oxy-Dry's primary manufacturing operations are concentrated in Itasca, Illinois (USA) and Egelsbach (Germany).
Baldwin chairman and chief executive officer, Gerald A Nathe, said: "The acquisition of Oxy-Dry is an important step in the continuing process of building Baldwin's presence in its core market segment of accessories and controls.
Oxy-Dry is a well-known and well-respected name in the industry, particularly with its brush blanket cleaning technology." Ed McLouglin, Oxy-Dry's chairman, president and chief executive officer, added: "Oxy-Dry has been serving the print industry for over 65 years and has a well-earned reputation for excellence with its global customer base.
I am pleased to have Baldwin acquire Oxy-Dry because the fit is excellent and Baldwin and Oxy-Dry have similar commitments to customer service, product innovation and the printing industry." Karl Puehringer, president and chief operating officer of Baldwin, also commented: "The acquisition of Oxy-Dry by Baldwin represents a great opportunity to combine Oxy-Dry's technology with Baldwin's and to utilise our Asian presence to expand the distribution of Oxy-Dry products.
Oxy-Dry's brush technology further strengthens Baldwin's position as a full provider of cleaning applications in the offset printing market, particularly in the newspaper and commercial web marketplace.
We will be able to better serve our combined customer base with this broader range of Baldwin and Oxy-Dry products.".
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