The European Commission has approved the proposed acquisition of BASF Printing Systems and ANI Printing Inks by private equity firm CVC (see October issue). The management-buy-out financed by CVC funds has created what is claimed to be the world’s largest European owned printing systems supplier – in terms of turnover it will be the second largest in Europe and the third worldwide.
Peter Koivula, president of ANI, will become ceo of the new company, whose headquarters will be in Stuttgart, Germany. Niclas Nyström will become cfo. Dr Michael Stumpp, president of BASF Printing Systems, will take up a new position within the BASF group.
The as yet un-named group will consist of six divisions: Narrow Web, headed by Ewald Draaijer, Packaging Inks Dr Giuseppe Gianetti, Printing Plates, Dr Thomas Telser, Publication Inks, Bart Delaleeuw, Sheetfed Offset, Dr Dirk Aulbert, and Pigments & Resins under Dr Frank Scherhag.
The new group has 65 fully owned subsidiaries in 30 countries and distributors covering another 50 countries. It employs 3,600 people worldwide and had sales in 2003 of €854M.
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