Bobst Group seeks to accelerate the transformation of the packaging production through strategic investments Dienstag, 07. Januar 2020 - 05:55
Bobst Group SA & CITO-SYSTEM GmbH
Bobst Group SA, Mex/Switzerland (“Bobst Group” or “BOBST”), and CITO-SYSTEM GmbH, Schwaig/Germany (“CITO-System”), have entered into exclusive negotiations regarding a potential majority participation of BOBST. As part of its strategy to provide end-to-end solutions for the production of packaging, BOBST recognizes the critical importance of tooling in an agile and sustainable packaging production chain. In a fast changing world, the BOBST and CITO-System partnership would leverage the strengths of both companies to drive innovation in tooling and more globally in the packaging production worldwide.
The proposed transaction is subject to the parties reaching a definitive agreement, with the closing of the transaction expected to occur in the first quarter of 2020. If a definitive agreement is reached, the transaction may be subject to customary regulatory approvals and potentially other conditions. There is no assurance, however, that any definitive agreement will be reached or that the closing of the contemplated transaction will occur.
Bobst Group SA & Yancheng Hongjing Machinery Technology Co., Ltd
Shanghai Eternal Machinery Co., Ltd, Shanghai/China (“Eterna”), a member of Bobst Group, acquired 70% of the equity of Yancheng Hongjing Machinery Technology Co., Ltd, Dongtai/China (“Hongjing”). The transaction, which was closed on January 6th, 2020, is part of a strategy to successfully improve and continuously widen the portfolio of machines of Eterna. With this partnership, Eterna intends to leverage the strengths of both companies to drive innovation in the folder/gluer industry and continue to grow the business at an international level. Hongjing will become the competence center for folder-gluers of Eterna.
Bobst Group SA, Mex, Switzerland
About BOBST GROUP
Bobst Group is one of the world’s leading suppliers of substrate processing, printing and converting equipment and services for the label, flexible packaging, folding carton and corrugated industries. Founded in 1890 by Joseph Bobst in Lausanne/Switzerland, BOBST has a presence in more than 50 countries, runs 14 production facilities in 8 countries and employs more than 5 600 people around the world. The Group recorded a consolidated turnover of CHF 1 635 million for the year ended December 31, 2018.
Inquiries for BOBST GROUP
Media and Investor Relations
Stefano Bianchi
Tel. +41 21 621 27 57
E-mail: investors(at)bobst.com
About CITO-System
CITO-System is a privately owned international company with its headquarters in Schwaig/Germany. CITO-System is one of the leading companies in the area of creasing systems for the packaging industry. The company has its roots in a box making company founded in 1906. CITO-System is known to be one of the know-how experts in the manufacturing of packaging made of paper, cardboard, and corrugated cardboard. It supplies corrugated board converters, display producers, folding box companies, die makers, and printing companies on all continents. CITO-System employs 230 people.
Inquiries for CITO-System
Jürgen Marïen
CITO-SYSTEM GmbH
CEO
Tel. +49 911 95885-0
E-mail: info(at)cito.de
About Eterna
Established in the city of Shanghai/China, Eterna is a member of Bobst Group and exhibits expertise in designing and manufacturing converting lines for the packaging industry. It serves more than 50 countries and employs 450 employees. Having strong foundations, Eterna is now looking to expand its product portfolio offering.
About Hongjing
Incorporated in 2004, Hongjing is a company headquartered in Dongtai/China, and whose main activity is the design, manufacture and sale of entry level folder-gluers. Currently employing a hundred full time employees, the company offers solutions for the folding carton, corrugated board and litho-laminating industries.
Disclaimer
Forward looking statements are subject to uncertainties and risk. Actual future results may differ materially from those expressed in or implied by the statements. Some of these uncertainties and risks relate to factors that are beyond BOBST’s ability to control or estimate precisely, such as, in particular, future market conditions, currency fluctuations, or behavior of other market participants. Readers are cautioned not to put undue reliance on forward looking statements, which speak only of the date of this communication. BOBST disclaims any intention or obligation to update and revise any forward looking statements constantly, whether as a result of new information, future events or otherwise.