Supplier News
Danaher to Acquire EskoArtwork
GENT, Belgium—EskoArtwork announced that its shareholder, the Danish investment group Axcel, has entered into a definitive Sales Purchase Agreement with the U.S. industrial company Danaher for the acquisition of 100 percent of the shares in EskoArtwork for 350 million Euros. The closing of the transaction is subject to customary approvals and is foreseen to be concluded within the first half of 2011.
Danaher is a diversified technology leader that designs, manufactures, and markets products and services to professional, medical, industrial, and commercial customers. Upon closing of the acquisition, the EskoArtwork business will become a part of Danaher’s Product Identification platform.
“We have been extremely satisfied with our investment in EskoArtwork,” says Sigurd Lilienfeldt, partner at Axcel and responsible for the investment in EskoArtwork. “During Axcel’s ownership, EskoArtwork has repositioned itself into a world leading company within its field. This is not only due to the merger with Artwork Systems, but also because of significant R&D investments leading to a range of new leading edge solutions. This innovation capacity of EskoArtwork has been instrumental for the impressive EBITDA growth during our ownership leading to this very successful exit for Axcel.”
“Esko has a leading market position, great products, and a strong team who we are counting on to drive future growth” said Matt Trerotola, vice president and group executive of product identification.
Carsten Knudsen, CEO of EskoArtwork, says: “This is an important and very positive step in the continued development of the company. I and the entire management team are excited to see Danaher’s strategic interest to acquire the company and develop EskoArtwork as an autonomous business. We see this as a vote of confidence in our strategy and a strong belief in our ability to continue to grow in the future.”
Toray Plastics Donates $1 Million to URI
NORTH KINGSTOWN, R.I—Toray Plastics (America), Inc. has donated $1 million to support graduate engineering fellowships at the University of Rhode Island (URI). Richard Schloesser, president and CEO of Toray, presented the gift to URI’s President David M. Dooley after addressing students, donors, and faculty at the College of Engineering’s annual scholarship breakfast.
“Toray is committed to promoting excellence in higher education and to building strong partnerships within our community that enhance the lives of the people who live here and help foster innovation,” said Schloesser. He noted that Toray’s relationship with the University of Rhode Island began more than 20 years ago and provides nearly four dozen scholarships each year, as well as internships at the company’s plant in North Kingstown.
“The support and active engagement of a company like Toray, with a major global business presence, is truly indicative of the kind of productive partnerships we are working to forge,” said Dooley. “Its generous financial support will play a significant role in advancing this institution’s competitiveness, as we endeavor to attract and retain the most talented graduate students in engineering.”
Comexi Group Acquires ACOM Business Unit
Last June, an agreement was announced between Comexi Group and ACOM which allowed Comexi Converting Solutions, an Italian subsidiary of Comexi Group, to offer its range of gravure presses together with the know-how and technology of ACOM. As of Dec. 15, 2010, Comexi Converting Solutions has completed the final acquisition of tangible and intangible assets of ACOM, Srl, “which has a technological line entirely synergistic with the Group’s activity,” according to Manel Xifra, president of Comexi Group, who adds that “we strongly value the sales development of this line.”
This business area of Comexi Group, led by Gian Vito Schiavi, will be based in Podenzano (Piacenza, Italy). In the context of this new activity in the supply of gravure presses, the ACOM brand will be initially maintained, although eventually it will be fully integrated in the broader offer of Comexi Group.
Transilwrap Acquires Interfilm Holdings
FRANKLIN PARK, Ill.—Transilwrap Company, a manufacturer, coater, and precision converter of plastics in the lamination, print, packaging, and industrial markets, announced the acquisition of Interfilm Holdings, Inc., a diversified distributor and converter of flexible films. This acquisition supports Transilwrap’s strategic growth strategy to provide customers with a strengthened service platform, new solutions through added converting capabilities, and expanded product lines to reach new markets.
“Interfilm has an extremely impressive reputation in the business and is highly respected in the U.S. and Canadian markets,” says Andy J. Brewer, Transilwrap president and CEO. “This strategic combination of products, services, and employees will enable us to offer our customers more diverse solutions, backed by expanded production assets and a highly experienced team of sales, operations, and customer service employees.”
Specifically, the acquisition of Interfilm supports Transilwrap’s goal to expand and strengthen its current films business and access new markets, solidifying its position as one of the leading film converters and distributors in North America. The acquisition will also provide the opportunity to attract new customers with broader converting capabilities and reach new markets through expanded product offerings.
RockTenn to Acquire Smurfit-Stone Container
NORCROSS, Ga., CREVE COEUR, Mo., CHICAGO—RockTenn and Smurfit-Stone Container Corporation announced that the Boards of Directors of both companies have approved a definitive agreement under which Smurfit-Stone will become a wholly owned subsidiary of RockTenn. The aggregate consideration, consisting of 50 percent cash and 50 percent RockTenn stock, is valued at $35 per share of Smurfit-Stone common stock, and represents a 27 percent premium to Smurfit-Stone’s closing stock price on Jan. 21, 2011. The aggregate equity value of the transaction, based on the closing price of RockTenn’s common stock on Jan. 21, 2011, is approximately $3.5 billion. This strategic transaction, unanimously approved by the Boards of Directors of both companies, will create a $9 billion leader in the North American paperboard packaging market. Upon closing, RockTenn will maintain its headquarters in Norcross, Ga.
RockTenn’s Chairman and CEO James A. Rubright said, “RockTenn’s acquisition of Smurfit-Stone is another major step in our transformation of RockTenn to be the most respected company in our business with a laser focus on exceeding our customers’ expectations and creating long-term shareholder value. The containerboard and corrugated packaging industry is a very good business and U.S. virgin containerboard is a highly strategic global asset.”
The transaction is expected to close in the second calendar quarter of 2011 and is subject to customary closing conditions, regulatory approvals, as well as approval by both RockTenn and Smurfit-Stone stockholders.
RotoMetrics Opens Converting Center
ST. LOUIS, Mo.—RotoMetrics announced the opening of its new Converting Technology Center, which will demonstrate the company’s latest product innovations. Located at its World Headquarters facility near St. Louis, Mo., the Converting Technology Center spans 2,000 sq. ft. and provides visitors with live demonstrations of the most advanced diecutting and modular processing equipment in the industry. Additionally, the area will serve as a research and development center for the company.
People
KENNESAW, Ga.—Chris Raney has joined Heidelberg USA as vice president, packaging, reporting to James Martin, senior vice president. Raney will be responsible for postpress packaging, while Dan Maurer, vice president, postpress product management, will be totally responsible for all commercial postpress.
NEWTON, Kan.—Bunting Magnetics Co. announced the addition of Ted Curran as operation manager, as well as Ryan Van Horn and Jessica Buchanan as a design programmers to its Flexible Die Division.
FAIRFIELD, Ohio—Color Resolutions International (CRI) has hired Todd Johnson as a sales specialist in its Midwest division. In this role, he will manage sales and new business development throughout Michigan, Northern Indiana, and Northern Ohio.
TROY, Ohio—3 Sigma Corporation has increased its staff to support higher levels of business. Brad Beck has been hired as western region product marketing manager; Jason Hellman has been promoted to eastern region product marketing manager; and Al Ammerman has joined the company as technical products business manager.
STOW, Ohio—MACtac Printing Products announced the promotion of Kim Hensley to the position of product manager, durable films. In her new role, Hensley is responsible for the management of MACtac’s durable film product line in North America.
GREEN BAY, Wis.—Andre Beaudoin has joined the printing sales team of PCMC Aquaflex as national sales leader, North America. He will sell directly to customers in North America, while leading the Aquaflex new machine sales team in the growth and expansion of this product line. pP
