Bobst Group Completes Acquisition of Fischer & Krecke Group, Germany
On March 31, 2008, following a thorough due diligence process and the approval by the German Federal Cartel Office, Bobst Group completed the acquisition of 100 percent of the Fischer & Krecke Group, in Germany.
This acquisition is in line with the Bobst Group strategy to expand its operations in the flexible materials market worldwide and to strengthen its presence in the flexographic printing area. The one-time costs to integrate Fischer & Krecke’s operations will lead to a slightly negative operating profit for the Flexible Materials Business Area in 2008. In 2009, the operating profit is expected to return again to positive figures.
The Fischer & Krecke Group is one of the world leaders (under the brand Fischer & Krecke) for flexographic printing solutions for flexible materials, paper and board, and (under the brand Kochsiek) in two specialized areas: rotogravure printing and inline rotary diecutting for paperboard packaging for liquids and rotogravure printing for decorative applications. Ralph Schuck, member of the Executive Committee of the Flexible Materials Business Area, is the new Director for all Flexo printing activities on Flexible Materials, as well as Managing Director for Fischer & Krecke. Mr. Andreas Kückelmann (former F&K Managing Director) is the Managing Director of Fischer & Krecke, as well as Chief Technology Officer.
With this acquisition, Bobst Group intends to establish its worldwide center of competence for flexographic printing for flexible materials in Bielefeld, Germany. The Piacenza site in Italy will be transformed into a Group production facility similar to the already existing sites in Itatiba (Brazil); Shanghai, China; and Pune (India).