Product category:
Printing Presses and Machinery (New and Used, Service and Repair)
News Release from: Heidelberg
Edited by the Printingtalk Editorial
Team on 21 June 2004
Press Giants' Web Deal Nearing
Completion?
Heidelberg will transfer its web offset division to Goss International is nearing completion.
Heidelberg's deal to transfer its web offset division to Goss International is nearing completion The two companies signed an according agreement that was announced last March but which is yet to be confirmed by the relevant European antitrust organisations
This article was originally published on Printingtalk on 6 Jun 2003 at 8.00am (UK)
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The transaction will be closed within the next weeks, expects Heidelberg.
The transaction with Goss includes the business areas Commercial Web, Newspaper as well as, in the USA, Finishing Systems for web offset machines.
Heidelberg will hold a 15 per cent share in Goss International, even though the company had previously stated that their stake in the business would be 20 per cent.
The companies have agreed not to disclose financial details of the transaction.
"This agreement is an important, active step in the consolidation process within this industry," said Bernhard Schreier.
"By combining and restructuring activities, both companies are aiming for better capacity utilisation, along with optimised market penetration due to the resulting enhanced product portfolio," said Dr Herbert Meyer, chief financial officer of Heidelberg.
The transfer of Heidelberg's web offset activities to Goss International will affect more than 2,000 Heidelberg employees at sites mainly in the USA, France and Netherlands.
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