Converting

Bobst is to acquire the Fischer & Krecke Group, the German manufacturer of flexo printing presses for flexible packaging, linerboard and paperboard.

Fischer & Krecke offers flexographic printing presses under the Fischer & Krecke brand and rotogravure presses under the Kochsiek brand. The firm reported net sales of £50m (€73m) in 2006 and has around 370 employees.

The transaction is expected to close by the end of 2007 or early 2008.

Bobst supplies equipment and services for the folding carton, corrugated board and flexible materials industries.

In the half-year to 30 June 2007, sales in the group's flexible materials business grew by 19%, compared with a 12.3% rise for folding cartons and 4.4% for corrugated board.

Nevertheless, the flexible materials business made a loss as exports of low-cost packaging from Asia slowed down the investment decisions by customers in more mature markets.

Bobst said it expected total turnover growth of between 1% and 3% for the full year 2007 and a net profit of at least £38m (CHF 90m).

The firm reported profits of £50m on sales of £675m in 2006.