SIEGBURG, Germany—Siegwerk, one of the leading international suppliers of printing inks for packaging applications and labels, has signed a contract to purchase U.K. based Hi-Tech Products Ltd. The specialist supplier of water based inks and coatings develops and manufactures high quality water based flexo inks, mainly for printing on corrugated board packaging. Through the Siegwerk Hi-Tech Products Ltd. combination, Siegwerk is once again expanding its product and service offering for the packaging market.
“Hi-Tech Products Ltd. is an established and well known water based ink supplier in the U.K. The company’s ink solutions and coatings perfectly complement our water based ink portfolio,” said Dirk Weissenfeldt, VP paper and board and liquid food packaging at Siegwerk. “This merger enables us to expand our local footprint in the U.K. and therefore to continue raising our profile as a supplier of water based printing inks in Europe.”
The integration of the acquired products into Siegwerk’s water based ink offering will enable customers from Hi-Tech Products Ltd. to benefit from a more comprehensive product portfolio and the wider technological expertise offered by Siegwerk as well. Both companies target their solutions specifically at the customer’s individual needs. This perfect cultural fit will support a smooth transition and will simplify the integration process going forward.
“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,” said Wade Brealey, managing director of Hi-Tech Products Ltd.
The Siegwerk Hi-Tech Products Ltd. acquisition 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.