Korber PaperLink Seeks Buyer for E.C.H. Will, Pemco, and Kugler-Womako
June 29, 2011 - Korber PaperLink Group said that it is seeking a new owner for E.C.H. Will, Pemco, and Kugler-Womako, which are part of the Group and form together the Paper Systems business unit.
“We have taken a strategic decision that has nothing to do with the performance of the companies," said Hildemar Bohm, chairman of the Korber PaperLink Management Board.
"Our aim is to find a suitable new owner for Paper Systems which will continue the success stories of the past years together with the companies. All three are successful companies with a high customer focus, dedicated employees and excellent know-how. We are convinced that they will have better prospects with a new owner who is willing to enter into a long-term commitment and who supports their strategies," said Bohm.
Korber said there is no specific time horizon for the sale, and while the company is keen to complete the sale quickly, what is more important is finding the best possible investor.
E.C.H. Will, Pemco and Kugler-Womako collectively have around 440 employees worldwide. Sales in 2010 amounted to some EUR 100 million. They have sales and service offices in Asia, Latin America Scandinavia, and Russia and a global agent network. Their installed base represents over 5,000 machines worldwide.
"We are amongst the market leaders in our respective fields of business and are very proud of our long tradition,” said Klaus Aarestrup, chairman of the Management Board of E.C.H. Will and speaker of Paper Systems.
The Korber PaperLink Division is set to remain part of the Korber Group. It will concentrate on its competencies in the fields of tissue, hygiene, mailing solutions and production logistic, and will further strengthen and expand these interests.
ABOUT THE COMPANIES
E.C.H. Will is a leading supplier of machinery for the paper manufacturing and converting industries. The product range includes cut-size sheeters for the production of communication paper (2-16 pockets), folio-size sheeting machines for paper and board, converting lines for the production of ruled and unruled layers, exercise books and folded sheets in the entry-level, mid-range and high-end markets.
Pemco, based in Sheboygan, Wisconsin, USA, is a leading manufacturer of cut-size paper wrapping and packaging machinery, specialty stationery envelope packaging machines, folio-size paper, board and metal plate wrapping and cartoning machines (Wrapmatic brand), as well as folio-size sheeting solutions for paper, board and other specialty materials (SHM brand).
Kugler-Womako has a long tradition as a supplier of machinery for a variety of sectors in the paper converting industry. The product portfolio is comprised of twin wire forming machinery, single, twin and plastic wire binding machines, including calendars, pad machines for checkbooks, lever arch and ring binder mounting lines, punching machines, converting machines for wet glue labels and films, special sheeters for e-papers and passport finishing lines with integration of the chip for biometrical data. The company also supplies labeling systems for the application of self-adhesive labels on various products and for a variety of industries.
SOURCE: Korber AG