Valmet Converting Group acquires the technology of SITEC, Germany
Published May 20, 1999 00.00.00 +2 GMT
Despite strong competition, Valmet Converting Group has recently completed negotiations to acquire the technology of Hamburg based company, SITEC GmbH, for a substantial sum. The Sitec range of advanced slitter rewinders will be absorbed by Titan Converting Equipment, with production being transferred to the new, extensive Titan facility at Biggleswade in Bedfordshire, England, in the near future.
Since Valmet Corporation of Finland acquired the Atlas Converting Group of Companies two years ago (which included Titan), they have considered various opportunities to strengthen and consolidate their position as the market leader for providing integrated, converting solutions world-wide. This was one such opportunity.
Sitec’s wide range of slitter rewinders and converting machinery is a perfect fit for Titan’s current operations. It will provide an even stronger market presence for Titan in converting flexible packaging materials, with machines now available up to 2500mm wide.
Although manufacturing operations will be transferred to Titan, some German technical personnel will continue to be based in Germany, at Valmet Converting Group’s own offices, also in Hamburg.
Sitec slitter rewinders are well established in continental Europe, especially in Germany, Austria and Switzerland, but the new venture will give Titan the opportunity to further expand its business and market leadership, world-wide. Indeed, since completing the deal, two substantial orders have been received for Sitec machines from the USA and Europe.
For more technical information, please contact Titan Converting Equipment Sales Department on Tel: +44 1767 310100, Fax: +44 1767 310200 or Email: email@example.com Or alternatively, Mr. Peter Fuchs in Germany on Tel: +49 4121-45 22 28 or Fax: +49 4121-45 22 20 For more press information, please contact Roger Astell, Valmet Converting Group Marketing Manager, on Tel: +44 1234 852553, Fax: +44 1234 851151 or Email: firstname.lastname@example.org