Durst, a manufacturer of advanced digital printing and production technologies, has signed a 50/50 joint venture agreement with the printing press manufacturer Koenig & Bauer in Munich.
The joint venture will be responsible for the development and marketing of single-pass digital printing systems for the folding carton and corrugated fiberboard industry.
The joint venture ‘Koenig & Bauer Durst’ would be officially established after the issuance of antitrust clearance that is required from the relevant antitrust authorities and is expected to be granted in the next few weeks.
Durst Group CEO Christoph Gamper said: “It was a short path from letter of intent to official signature because the negotiations had already been conducted in a spirit of genuine cooperation. We want to work efficiently and purposefully towards a common goal – tapping the huge potential that digital production lines offer for the packaging industry.”
The Koenig & Bauer Durst is expected to start its business operations by the end of May and is expected to cooperate closely with both parent companies’ global network.
A new managing director would to be appointed for the joint venture and is expected to operate from its registered office in Würzburg.
The initial portfolio of the joint venture includes the Koenig & Bauer CorruJET 170 and the Durst SPC 130, including all associated services and the ink business, along with the development of the VariJET 106.
Koenig & Bauer CEO Claus Bolza-Schünemann said: “Koenig & Bauer Durst will combine different key technology areas and market expertise to perfect effect. I am convinced that the joint venture will benefit from the spirit embodied by both companies and that something really special is emerging here.
“The packaging industry is looking for new, more efficient production opportunities and Koenig & Bauer Durst will supply the necessary digital solution.”
In December 2018, Koenig & Bauer has announced the acquisition of 80% stake in Duran Machinery, a Turkey-based folder gluer business, to strengthen its presence in the packaging production machines and systems segment.
Following acquisition, name of the Duran Machinery has been changed and incorporated into the group to operate as Koenig & Bauer Duran.