Following approval by the competition authorities, the Bobst Group finalized its €75M acquisition of Metso's Converting group on January 30, 2004. The deal was originally agreed in October, 2003, as part of Metso's strategy to divest and focus on its core businesses.
The acquired companies – formerly trading as Valmet Converting - will be fully integrated into the Bobst Group in the coming months. They include Atlas, General, Midi and Titan in the UK and Rotomec in Italy, with a total of some 800 employees and a €170M turnover in 2003.
These companies offer gravure and flexo presses, coating, laminating and vacuum metallizing production lines, as well as slitter rewinders and sheeters. Bobst says the acquisition of these businesses, together with the Bobst owned company Schiavi in Italy, will enable it to offer a much expanded range of solutions for converters of flexible materials.
Bobst has also completed its acquisition of two-thirds of Steuer, manufacturer of rotary hot foil stampers, after the German Merger Control Authorities gave their approval, allowing the parties to close the deal in early January.
| Contacts |
| Bobst Group Tel: +41 21 621 2622 Metso Paper Tel: +358 400 706 729 |
