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Baldwin to acquire Kompac

Thursday, 06 September 2001
By Print 21 Online Article

Baldwin sells press cleaning systems, fountain solution and ink control, spray dampening, web control and press protection, drying systems, and newspaper inserter equipment. In July it divested its Roll Handling Business to Megteg for $10m, but still posted a loss for the year.

The Kompac product is an industry leader and has proved very successful for Varn in Australia and New Zealand. However since Varn was taken over by Day International, Kompac is the only mechanical technology in the enlarged company’s press chemical and blanket portfolio. It is obviously a better fit for Baldwin.

Baldwin is run in Australia and New Zealand by Peter Tkachuk who has recently been given the Asian market sector to manage as well. He declined to comment on the proposed acquisition but said he was pleased with the direction of the company under its new management.
“We’re getting back to the businesses we know best,” he said. “You’ll be seeing a lot more of us from now on.”

Kompac has a major installed base in the region, especially in the small to medium sheet-fed offset sector. According to Brent Stephen, managing director of Varn Australia, the 500th Kompac on a Heidelberg GTO in Australia and New Zealand was recently installed. Over 80,000 units have been installed worldwide. The Kompac, which makes up 25 per cent of the local Varn business operation, made its reputation with the claim that it guarantees 50 per cent saving in start-up waste on offset presses – or your money back.

In a statement Gerald Nathe, Chairman and CEO of Baldwin Technology said, “The proposed acquisition of Kompac is another in a series of steps to focus Baldwin on the accessories and controls market. Kompac’s dampening systems business, and its excellent reputation complement and extend Baldwin’s product and market coverage. This is a great addition to all of those Baldwin products in the market that have been making measurable quality and productivity differences in pressrooms around the world for many years.”

“The sale of Kompac enables Varn to focus more of our resources on our core pressroom chemicals operations,” said Steven Wilson, President of Varn International. “I am very proud of the Kompac associates and the industry leadership position we have developed over the years. The sale to Baldwin will allow Kompac to continue to build on that industry leadership position.”
The closing of the transaction is expected to occur within the next two months, subject to completion of a definitive agreement.

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