Advanced digital printing and production technology manufacturer Durst has apparently signed a 50-50 joint venture agreement with Koenig & Bauer, the second-largest printing press manufacturer in the world. As per genuine reports, the agreement between the two companies is likely to benefit the folding carton and corrugated fiberboard industry, given that it entails the development of single-pass digital printing systems for the same.
The deal is subject to approval by antitrust authorities for the JV, tentatively titled Koenig & Bauer Durst GmbH, to be officially established. As per sources familiar with the knowledge of the matter, the approval may be granted in the next few weeks. With this agreement, the companies will be conjointly involved in the development and marketing of single-pass digital printing systems to be used by prominent folding carton and corrugated fiberboard industry players.
Christoph Gamper, CEO, Durst Group, has been quoted to state that the deal went through rather quick, given that the negotiations had already been in place and had ended on a positive note. The company intends to work with efficiency and harmony to eventually tap the potential that digital production lines hold for the packaging industry, Gamper added.
According to an official press release by Koenig & Bauer, Claus Bolza-Schünemann, CEO of the company, has been quoted stating that the printing press manufacturer will combine various technology arenas with market expertise to the desired effect. The joint venture will prove beneficial to the mutual spirit that both the companies represent, Bolza-Schünemann says, adding that Koenig & Bauer Durst stands to supply the necessary digital solutions to the packaging industry that is presently seeking highly novel, efficient production opportunities.
As per sources familiar with the matter, the JV portfolio will be inclusive of the Koenig & Bauer CorruJET 170 as well as the Durst SPC 130. Würzburg will house the JV’s registered office.