German firm Koenig & Bauer has agreed to acquire 80% stake in folder gluer business of Turkey-based Duran Machinery to expand its presence in the segment of machines and systems for packaging production.
The acquired business will be incorporated into the group and operate as Koenig & Bauer Duran.
The combined firm will provide complete lines for the printing and processing of folding boxes through offering Koenig & Bauer Sheetfed’s Rapida sheetfed presses, Koenig & Bauer Iberica’s flatbed die cutters and Duran’s folder gluers.
The acquired business will also help Koenig & Bauer to enhance its market share in folding carton gluers segment.
Koenig & Bauer Sheetfed CEO and Koenig & Bauer management board member Ralf Sammeck said: “Over the past few years Duran has set new standards and successfully strengthened its position among our customers in the industrial packaging sector.
“We are now further expanding our worldwide presence as the printing press and die cutter manufacturer with the broadest product portfolio.”
Since 30 years, Duran has been engaged in the design and manufacturing of folder gluers in various formats and configurations.
The company provides six standard series of Omega folder gluers with different specifications and ancillary equipment.
Duran also offers research and development services ranging from advanced packaging designs and manufacturing of tailor-made machinery to meet specific production requirements.
Duran already supplies its machinery solution to the manufacturers of cardboard and corrugated board packaging products in over 65 countries.
Koenig & Bauer Duran will continue to manage the operations from Duran Machinery’s existing premises in Istanbul. The current management team of Duran will continue to assist the company to expand business.
Duran Machinery chairman Oktay Duran said: “We are proud to be a part of the great Koenig & Bauer Group and we are certain that we will achieve greater success in the global folding carton market with our new synergy.“