Durst and Koenig & Bauer Sign Joint Venture Agreement for Digital Package Printing Systems
From left, Stefan Kappaun, EVP Inks & Fluids, Durst Group; Christopher Kessler, General Counsel, Koenig & Bauer AG; Christoph Gamper, CEO & Co-Owner, Durst Group; Christian Gatterer, CFO, Durst Group; Jochen Sproll, Project Manager Corporate Development, Koenig & Bauer AG; Claus Bolza-Schünemann, CEO, Koenig & Bauer AG; Harald Oberrauch, Owner, Durst Group, pictured at the joint venture signing between Koenig & Bauer and Durst.
Durst, manufacturer of advanced digital printing and production technologies, and Koenig & Bauer, the world’s second-largest printing press manufacturer, signed a 50/50 joint venture agreement in Munich on Wednesday, April 10. The signing of the agreement paves the way for the joint development and marketing of single-pass digital printing systems for the folding carton and corrugated fiberboard industry. The antitrust clearance that is still required from the relevant antitrust authorities before “Koenig & Bauer Durst GmbH” can be officially established is expected to be granted in the next few weeks. Business operations should then commence by the end of May and a Managing Director will be appointed. Koenig & Bauer Durst GmbH will have its registered office in Würzburg, Germany, and cooperate closely with both parent companies’ global network. Initially, the joint venture portfolio will comprise the Koenig & Bauer CorruJET 170 and the Durst SPC 130 – including all associated services and the ink business, as well as the development of the VariJET 106.
“It was a short path from letter of intent to official signature because the negotiations had already been conducted in a spirit of genuine cooperation,” says Christoph Gamper, CEO of the Durst Group. “We want to work efficiently and purposefully towards a common goal – tapping the huge potential that digital production lines offer for the packaging industry.”
“Koenig & Bauer Durst will combine different key technology areas and market expertise to perfect effect,” says Claus Bolza-Schünemann, CEO of Koenig & Bauer AG. “I am convinced that the joint venture will benefit from the spirit embodied by both companies and that something really special is emerging here. The packaging industry is looking for new, more efficient production opportunities and Koenig & Bauer Durst will supply the necessary digital solution."
The preceding press release was provided by a company unaffiliated with packagePRINTING. The views expressed within do not directly reflect the thoughts or opinions of the staff of packagePRINTING.
