Siegwerk purchases UK-based supplier of water-based inks and coatings
Siegwerk has signed a contract to purchase UK-based Hi-Tech Products Ltd. The supplier of water-based inks and coatings develops and manufactures high-quality water-based flexo inks, mainly for printing on corrugated board packaging.
By making this purchase, Siegwerk is once again expanding its product and service offering for the packaging market.
Complement to the water-based ink portfolio
“Hi-Tech Products Ltd is an established and well-known water-based ink supplier in the UK. The company’s ink solutions and coatings perfectly complement our water-based ink portfolio”, says Dirk Weissenfeldt, Vice President Paper & Board and Liquid Food Packaging at Siegwerk. “This merger enables us to expand our local footprint in the UK and therefore to continue raising our profile as a supplier of water-based printing inks in Europe.”
Solid company with innovative technology
“We are delighted to have found in Siegwerk a great partner and a new owner for our company. Over the last years we have built a solid company with innovative technology and excellent customer service. I’m convinced that Siegwerk can integrate our offering into their larger structure and thus advance it on the market. After 12 years, I would like to thank all of our customers for their support and to our staff for the many years of dedicated service. In the future, we hope to spend more time closer to our family in New Zealand,” says Wade Brealey, Managing Director of Hi-Tech Products Ltd.
Enhancing the position as full-range provider
The acquisition of Hi-Tech Products Ltd follows other strategic investments and disinvestments that Siegwerk has completed to enhance its position as a full-range provider for the packaging market. In 2016 Siegwerk, for example, purchased Actega Colorchemie (today Siegwerk Buedingen) and opened a new Blending Center for the production of water-based inks at its Technical Center in France. These investments have enabled the company to enhance its water-based ink business in line with its goal of clearly devoting its resources to the markets of tomorrow and focus on its core business in packaging printing.
The parties have agreed not to disclose any financial details.
