Converting

The chief executive of Heidelberg, the packaging and printing machinery manufacturer, has said that the company's falling share price could lead to it becoming targeted for a takeover.

Bernhard Schreier told shareholders at Friday's (18 July) annual general meeting that "many are looking at the company".

Heidelberg's share price has fallen by 38% in the past two months, and by 75% since July 2007.

The firm has previously been linked with US investor Warren Buffett, but denied that a formal approach had been made.

In his speech, Schreier reiterated the company's plans for moving into the packaging market, as underlined by its Linoprint launch at Interpack and its focus on very large format printing at Drupa.

"Packaging printing is a key sector for improving our results on a lasting basis," he said.