- March 21, 2003, PRESS RELEASE
ANN ARBOR, MI, USA—Flint Ink Corp. and the Sicpa Group, Lausanne, Switzerland, report they have finalized several business transactions. According to a recent release, Flint Ink has acquired Sicpa's worldwide heatset and coldset ink business, and Sicpa has acquired Flint Ink's worldwide business for security inks used on currency and other negotiable instruments. The closing was final on March 14, 2003.
Says Flint Ink president Dave Frescoln, "The exchange supports each company's business strengths. Flint Ink is a leading manufacturer of news and publication printing inks, while Sicpa inks are used on the majority of the world's banknotes." The transaction didn't include any of the security technology associated with brand protection or supply-chain management Flint Ink currently is exploring with alliance partners, Frescoln adds.
According to Flint, the acquisition adds significantly to the heatset and coldset printing ink business for Flint-Schmidt GmbH and Co. KG in Europe. Production will be transferred to Flint-Schmidt facilites in Cologne, Germany; 's-Gravenzande, the Netherlands; Wolverhampton, England; and a new facility in Finland.
In addition, says Flint, the acquisition will increase Flint Ink's market share in Australia and New Zealand. "Flint Ink is investing significantly to upgrade facilities in this region in order to give customers a viable alternative," says Damian Johnson, president of Flint Ink India/Pacific. "We believe this is a positive acquisition for the Australian and New Zealand marketplace."
For more information:
In Europe, contact Phil Robinson at Flint-Schmidt: email@example.com.
In India/Pacific, contact Angelo Spano at: firstname.lastname@example.org. Visit Flint Ink at flintink.com.