Flint Group green-lights Xeikon acquisition

Print and packaging consumables company Flint Group has confirmed its acquisition of digital printer developer Xeikon.

Xeikon is distributed in Australia by Absolute Electronics, and managing director Grish Rewal confirmed there would be “no change in operations”.

Flint said it purchased Xeikon to lay the foundations for a new division called Flint Group Digital Printing Solutions. This would be Flint’s first significant venture into hardware.

Flint Group chief executive Antoine Fady said the acquisition would benefit both organisations and help propel Flint into the digital market.

“We will continue to deliver on our long-term strategy of driving growth through product innovation, focusing on developing markets and portfolio expansion,” he says.

“Xeikon has shown that dedication to the digital label, folding carton, commercial and document printing market segments has paid off in terms of market share, customer satisfaction and financial contribution.”

Xeikon chief executive Wim Maes will now be appointed president of Flint’s Digital Printing Solutions division, and said the acquisition was a great opportunity for the Netherlands-owned company.

“This next chapter in our more than 20-year existence opens many opportunities for Xeikon as a company, as well as for our customers, employees, partners and stakeholders,” he said.