Koenig & Bauer AG

Koenig & Bauer signs an agreement with Duran Machinery to acquire 80% of its folder gluer business

Public disclosure of inside information according to article 17 MAR

Würzburg (pta003/01.12.2018/15:35) - Koenig & Bauer AG has agreed with Duran Machinery in Istanbul, Turkey, to acquire 80% of its folder gluer business. The product division, with around 50 people, is to be integrated into the Koenig & Bauer Group as Koenig & Bauer Duran. The previous, experienced management will be part of the new company's management. For more than 30 years, Duran Machinery has been developing, manufacturing and distributing folder gluers in various formats and configurations. The innovative company established its technologically solid and customer-oriented Omega folder gluers as one of the leading brands in the global folding carton industry and has been able to increase its market share in recent years. The Turkish manufacturer is currently number 2 in the global folder gluer market with a share of around 6%. This equipment market currently has a total volume of around EUR 250 million. The purchase price is in the upper single-digit million euro range with additional earn-out options.
This expansion of Koenig & Bauer's portfolio in the growing packaging market will enable the company to offer its highest sales customer group - folding carton manufacturers - a full range of products for printing, die-cutting and gluing folding cartons from a single source. The focus is thus on innovative and tailor-made solutions also for individual and unique packaging designs. In addition, Koenig & Bauer's reputation among packaging printers, its brand philosophy and the integration of the folder gluer business into its worldwide sales and service network will significantly enhance the opportunities for revenue growth and market share gains in this attractive, high-margin business.

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emitter: Koenig & Bauer AG
address: Friedrich-Koenig-Straße 4, 97080 Würzburg
country: Germany
contact person: Dr. Bernd Heusinger
phone: [phone]
e-mail: [e-mail]
website: www.koenig-bauer.com

ISIN(s): DE0007193500 (share)
stock exchanges: regulated market in Frankfurt, Munich; free market in Stuttgart, free market in Hamburg, free market in Dusseldorf, free market in Hannover; open market in Berlin, Tradegate

[ source: http://www.pressetext.com/news/20181201003 ]