Schur Buys IDAB WAMAC
-- Graphic Arts Online, 12/11/2008 2:46:00 PM
Effective from December 10, 2008, Heidelberger Druckmaschinen AG (Heidelberg) has sold all shares in the Swedish company IDAB WAMAC International AB to Schur International a/s.Schur has for a number of years through its subsidiaries Schur Packaging Systems a/s in Horsens, Denmark and Schur Palletiser AB in Eksjö, Sweden provided advanced mailroom, distribution and palletiser solutions to the newspaper and commercial printing industry worldwide. With the acquisition of IDAB WAMAC, Schur will strengthen its position in the newspaper mailroom segment.
Bernhard Schreier, CEO of Heidelberger Druckmaschinen AG says: "We consequently focus on Sheetfed offset solutions. For this reason we have opted for the transfer of IDAB WAMAC. We are pleased to close this transaction even under the currently challenging market conditions."
In Summer 2008 Heidelberg announced a comprehensive package of measures designed to improve its cost situation and to optimize its business organization. The sale of IDAB WAMAC has been effected in line with this program.
Both parties have agreed not to disclose the conditions of the acquisition.
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