Back in January, Durst signed a letter of intent with Koenig and Bauer to set up a joint venture, which I covered here. The new company, Koenig & Bauer Durst GmbH, has now almost ready to go.
The two companies signed a 50/50 joint venture agreement in Munich on Wednesday, April 10 though they are still waiting for clearance from the relevant antitrust authorities. Nonetheless, they expect to appoint a managing director and establish the new company by the end of May.
The idea is that Koenig and Bauer will pool its expertise with Durst in developing single-pass digital printing systems for the folding carton and corrugated fiberboard industry. To this end, the new company will take over the Koenig & Bauer CorruJet 170 and the Durst SPC 130 including all associated services and the ink business. The new venture will also oversee the development of the VariJet 106 with the intention of having this ready in time for Drupa 2020.
Claus Bolza-Schünemann, CEO of Koenig and Bauer AG, commented “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.”