Siegburg plans to acquire Color Converting

Citation

(2004), "Siegburg plans to acquire Color Converting", Pigment & Resin Technology, Vol. 33 No. 2. https://doi.org/10.1108/prt.2004.12933bab.010

Siegburg plans to acquire Color Converting

Siegburg plans to acquire Color Converting

Siegwerk Group, Siegburg, Germany have announced plans to acquire Color Converting L.L.C. (CCI), Des Moines, Iowa, USA. Through the acquisition Siegwerk Group expands its presence in the US and strengthens its position as a global player in the printing ink market. “The packaging industry has a demand for our products and services worldwide”, says Herbert Forker, CEO of Siegwerk Group. With combined annual revenues of over 425 million EUR (2002) in the areas of packaging inks and publication gravure inks, Siegwerk Group becomes the third largest European manufacturer of printing inks. In the field of high quality packaging inks for flexible packaging Siegwerk Group has risen to become the global number two with combined annual revenues of 245 million EUR. With 1,200 employees, Siegwerk Group provides its services and products to customers worldwide through seven subsidiaries and representatives in over 50 countries. Combined annual revenues in 2002 totalled 340 million Euro. CCI, a privately-held company based in Des Moines/Iowa, USA, was founded in 1975 and has 320 employees. CCI is the second largest supplier of packaging inks in the US with production facilities in Des Moines/Iowa and in Spartanburg/South Carolina plus sales, distribution, or service locations across the US. The company has enjoyed 15 percent growth rates over the past several years. Combined annual revenues in 2002 totalled 85 million EUR.