Bobst has started the new year by announcing its intention to acquire majority stakes in both Cito-System, based in Germany, and Hongjing, based in China.
Bobst is looking at Cito-System to improve its tooling in production chains for sustainable packaging. Cito-System mainly makes creasing systems for the packaging industry, with expertise in packaging made of paper, cardboard, and corrugated cardboard. It’s a privately-owned company that dates back to 1906, employing some 230 people and supplying printing companies on all continents. If the two companies can come to an agreement, then this is expected to close in the first quarter of this year, subject to regulatory approvals.
Meanwhile, the Shanghai Eternal Machinery Company, which is a subsidiary of Bobst, has acquired 70 percent of the equity of Yancheng Hongjing Machinery Technology Co in order to broaden its portfolio. Hongjing, which is headquartered in Dongtai, China, was founded in 2004 and mainly makes entry level folder-gluers for the folding carton, corrugated board and litho-laminating sectors. This deal was finalised on the 6 January 2020 with Hongjing now set to become the competence center for Eterna’s folder-gluers.
Subscribe to this site:
You can sign up to follow Graphics to Industrial Printing Journal to be notified of future posts.