Advanced digital printing technology solutions provider Durst has partnered with Koenig and Bauer to establish a 50/50 joint venture (JV) in Munich, Germany.
The JV, named as Koenig and Bauer Durst GmbH, will focus on the developing and marketing single-pass digital printing systems for the folding carton and corrugated fibreboard industry.
Both companies are currently awaiting clearance from the relevant antitrust authorities to establish the JV, which is expected to be given in the coming weeks.
Durst Group CEO Christoph Gamper said: “It was a short path from letter of intent to official signature because the negotiations had already been conducted in a spirit of genuine cooperation.
“We want to work efficiently and purposefully towards a common goal, tapping the huge potential that digital production lines offer for the packaging industry.”
Following the antitrust clearance, the JV Koenig and Bauer Durst will begin operations by the end of next month.
A managing director will be appointed to oversee the operations.
The JV will initially focus on all associated services and the ink business of the Koenig and Bauer CorruJET 170 and the Durst SPC 130, as well as the VariJET 106 development.
Koenig and Bauer CEO Claus Bolza-Schünemann said: “Koenig and Bauer Durst will combine different key technology areas and market expertise to perfect effect.
“I am convinced that the joint venture will benefit from the spirit embodied by both companies and that something really special is emerging here.
“The packaging industry is looking for new, more efficient production opportunities and Koenig & Bauer Durst will supply the necessary digital solution.”