Bobst announces takeover offer for British company
The Lausanne-based Bobst group, which develops and manufactures machinery for the packaging industry, says it has reached agreement on a cash offer for Fairfield Enterprises, the parent company of Oscar Friedheim.
The Lausanne-based Bobst group, which develops and manufactures machinery for the packaging industry, says it has reached agreement on a cash offer for Fairfield Enterprises, the parent company of Oscar Friedheim.
Bobst said it had been represented by the trading company Oscar Friedheim for most of its products in Britain and Ireland for more than 50 years.
The Board of Fairfield Enterprises has recommended the acceptance of Bobst’s undisclosed cash offer.
“We have decided to make this offer in order to maintain and even improve the high quality of services we bring to our customers in Britain and Ireland,” said Bobst company treasurer Jospeh Santoro.
Founded in 1890, Bobst specialises in equipment and services for the production of packaging and other printed solid and corrugated board.
In December, Bobst announced it expected a slight decrease in turnover for 1999 compared to the previous year (SFr1.274 billion) and net profit would also be lower (SFr85.3 million in 1998).
However, Bobst added that the outlook for the year 2000 was “favourable” and an increase in turnover and result was expected.
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