Koenig & Bauer AG (KBA) has finalised a Letter of Intent with Officine Meccaniche G. Cerutti S.p.A. (OMGC) in Casale Monferrato, Italy, for the 100% takeover of its Spanish subsidiary Iberica AG S.A. in Barcelona, as the company said in the press release received by Lesprom Network.
Iberica with some 60 staff produces medium and large-format flatbed die-cutters for board and corrugated packaging without own manufacturing facilities and until now has mainly been active in Europe and in some overseas markets.
The integration into the global KBA sales and service network would greatly improve Iberica’s growth prospects. The planned takeover underscores the press manufacturer’s announced focus on the growing packaging market.
KBA’s sheetfed segment is the longstanding market leader in folding carton printing. Its international customer base for sheetfed offset presses and die-cutters is largely identical. Further details regarding the planned takeover will not be disclosed until negotiations are complete as contractually agreed.
