11.18.05
Flint-Schmidt announced that the company has agreed to the sale of its metal decorating business to the senior management of the division, financed by an industrial investor group and Handelsbanken.
The new company will be led by Jan Koivula, who has been heading the metal deco business of Flint-Schmidt for three years.
The transaction includes the purchase of Flint Ink Sweden AB, the metal deco division producing out of the motherplant factory in Helsingborg, the service center and in-plant operations around Europe. The sale price was not disclosed. As part of the agreement, approximately 60 employees will move from Flint-Schmidt to the new company.
In a complementary transaction, a letter of intent was signed between the new company and XSYS Print Solutions to acquire XSYS’s metal deco business, formerly known under the brand name Lindgens.
“By buying the metallic inks and coatings businesses from both Flint-Schmidt and XSYS, we are creating a group purely focusing on metal decorating,” said Mr. Koivula, managing director of the new corporation. “We will continue to offer our customers a broad range of coatings and inks for metal packaging. Robust, high-quality products and excellent services will be the key differentiators of our new enterprise.”
The new company will be led by Jan Koivula, who has been heading the metal deco business of Flint-Schmidt for three years.
The transaction includes the purchase of Flint Ink Sweden AB, the metal deco division producing out of the motherplant factory in Helsingborg, the service center and in-plant operations around Europe. The sale price was not disclosed. As part of the agreement, approximately 60 employees will move from Flint-Schmidt to the new company.
In a complementary transaction, a letter of intent was signed between the new company and XSYS Print Solutions to acquire XSYS’s metal deco business, formerly known under the brand name Lindgens.
“By buying the metallic inks and coatings businesses from both Flint-Schmidt and XSYS, we are creating a group purely focusing on metal decorating,” said Mr. Koivula, managing director of the new corporation. “We will continue to offer our customers a broad range of coatings and inks for metal packaging. Robust, high-quality products and excellent services will be the key differentiators of our new enterprise.”