Product category:
Printing Presses Ancillary Equipment
News Release from: Technotrans Graphics
Edited by the Printingtalk Editorial
Team on 09 February 2004
Baldwin and Technotrans Edge Closer to
Merger
Baldwin Technology and Technotrans have edged closer to a merger deal with final agreement expected in January 2004.
Baldwin Technology and Technotrans have edged closer to a merger deal with final agreement expected in January 2004 The companies have decided to announce the transaction plans before a definitive agreement is signed to avoid industry rumours while proceeding with the intended merger
This article was originally published on Printingtalk on 13 Feb 2004 at 8.00am (UK)
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Technotrans has provided a non-binding letter of intent whereby it would acquire all outstanding class A and class B Baldwin shares for $2.50 per share in cash.
The companies cite higher market demands and increased pressure to provide integrated systems and services for the deal's motivation.
"By combining Baldwin's excellent know-how, especially in automated cleaning systems, with our successful liquid technology, both companies together could better address customer demands," stated Technotrans' chief executive officer Heinz Harling.
Baldwin Chairman and chief executive officer Gerald A.
Nathe commented: "We have come to the conclusion that the proposed transaction would be in the best interest of our stockholders." The combined businesses would have an increased presence in Germany, Japan and the U.S.A the companies believe.
They also said that their customer base could broaden and that they would combine their respective product ranges and sales forces.
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