Heidelberger Druckmaschinen AG (Heidelberg) will transfer its
web offset division (Web Systems) to Goss International. The two
companies signed an according agreement, which is yet to be
confirmed by the relevant European antitrust organizations. The
transaction will be closed within the next weeks.
The transaction with Goss includes the business areas Commercial Web, Newspaper as well as, in the US, Finishing Systems for web offset machines. Heidelberg will hold a 15 percent share in Goss International.
The companies agreed not to disclose financial details of the transaction.
"This agreement is an important, active step in the consolidation process within this industry," said Bernhard Schreier. "By combining and restructuring activities, both companies are aiming for better capacity utilization, along with optimized market penetration due to the resulting enhanced product portfolio," said Dr. Herbert Meyer, CFO of Heidelberg.
The transfer of Heidelberg's web offset activities to Goss International will affect more than 2,000 Heidelberg employees at sites mainly in the US, France and Netherlands.
Complementing own activities, Heidelberg had entered the web offset business by acquiring Harris Graphic Corporation in 1988. Through the acquisition of the Dutch company Stork Contiweb in 1996, Heidelberg has also been able to offer splicers and dryers in this market segment. In the same year, Heidelberg extended its portfolio to offer finishing systems for web offset machines by acquiring Sheridan Systems (USA and Great Britain).
In fiscal year 2003/2004, Heidelberg's web offset sales amounted to 376 million Euro. This corresponds for roughly ten percent of the of the group's total sales (3.661 billion Euro).
For further information:
Heidelberger Druckmaschinen AG
Tel.: +49 (0)6221 92 60 20
Fax: +49 (0)6221 92 60 61