Jagenberg has sold its folding carton production unit to Heidelberg for an undisclosed amount. The deal includes Jagenberg Diana, at Neuss, Woschnik + Partner, in Mönchengladbach, and Jagenberg Slovensko, in Nové Mesto nad Váhom, Slovakia.
The Jagenberg operation manufactures sheet die cutting machines and folding carton gluers for converting carton and corrugated board. The total workforce is 372, and world sales are around €40M. The deal gives Heidelberg a share of about eight per cent of the €600M global market for folding carton equipment .
"We have found a buyer of international repute whose strong position in the printing and converting market will provide good development and marketing opportunities for the companies," states Jagenberg ceo Dr Andreas Beyer. Heidelberg's Bernhard Schreier adds: "This acquisition fits perfectly with our strategy of strengthening and expanding our conversion activities. With these machines we are closing a gap in our portfolio and are hence able to offer our customers extended solutions in the important market of package printing."
The world market for package and label printing machinery totals around €2 billion. Heidelberg claims a share of almost 20 per cent of the market for package print, and nearly 30 per cent in label production.
More information from Folke Heyer, Rheinmetall - TEL: +49 211 473 4550. EMAIL: Folke.Heyer@Rheinmetall-AG.com
