German press giant Koenig & Bauer (KBA) has signed a deal to transfer its entire intellectual property portfolio to Italy's Cerutti group for an undisclosed sum.
The deal covers "know-how, industrial designs and patents" for its rotogravure printing presses aimed at the magazine, catalogue and decorative paper markets.
Cerutti makes rotogravure and flexo presses and also offers a range of die cutters. The new deal will see KBA manufacture folders for all new Cerutti publication rotogravure presses.
KBA said in a statement that it would continue to offer after-sales services for all equipment sold up to the date of the transaction.
It said that weak demand in the gravure sector, exacerbated by 18 months of slowing demand from the newspaper industry led to the decision.
The agreement will allow KBA to downsize operations at its newspaper production plants and expects "personnel changes" at its Frankenthal facility.
The deal is unlikely to affect the company’s full year financial expectations, it said.
The deal covers "know-how, industrial designs and patents" for its rotogravure printing presses aimed at the magazine, catalogue and decorative paper markets.
Cerutti makes rotogravure and flexo presses and also offers a range of die cutters. The new deal will see KBA manufacture folders for all new Cerutti publication rotogravure presses.
KBA said in a statement that it would continue to offer after-sales services for all equipment sold up to the date of the transaction.
It said that weak demand in the gravure sector, exacerbated by 18 months of slowing demand from the newspaper industry led to the decision.
The agreement will allow KBA to downsize operations at its newspaper production plants and expects "personnel changes" at its Frankenthal facility.
The deal is unlikely to affect the company’s full year financial expectations, it said.
Source: printweek
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