Print and packaging consumables company Flint Group has acquired digital printer developer Xeikon.
Xeikon is one of the original digital print pioneers, it burst onto the world stage at Ipex 93, and has continued developing its presses ever since.
It is distributed in Australia by Absolute Electronics, whose managing director Grish Rewal says, “There will be no change in operations.”
Flint says its purchased Xeikon to lay the foundations for a new division called Flint Group Digital Printing Solutions. It will be Flint’s first significant venture into hardware.
[Related: Xeikon success]
Flint Group chief executive Antoine Fady says the acquisition will profit both organisations and help to propel Flint into the digital market.
“We will continue to deliver on our long term strategy of driving growth through product innovation, focus on developing markets and portfolio expansion,” he says.
“Xeikon has shown that dedication to the digital label, folding carton, commercial and document printing market segments has paid off in terms of market share, customer satisfaction and financial contribution.”
Xeikon chief executive Wim Maes will now be appointed president of Flint’s Digital Printing Solutions division, and says the acquisition is a great opportunity for the Netherlands owned company.
“This next chapter in our more than 20-year existence opens many opportunities for Xeikon as a company, as well as for our customers, employees, partners and stakeholders,” he says.
Flint Group employs around 6,800 staff and reported sales of €2.1bn in 2014.
The value of the transaction, which remains subject for approval, has not been revealed.
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