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Shelton Firm Announces Acquisition
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Business New Haven
9/4/2001
By: BNH
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SHELTON - Baldwin Technology Co. (ASE: BLD) has signed a non-binding letter of intent to acquire the Kompac business of Varn International Inc. “The proposed acquisition of Kompac is another in a series of steps that are underway to strategically focus Baldwin's assets and capabilities on the accessories and controls market,” said Gerald Nathe, Baldwin's chairman and CEO. “Kompac's dampening systems business, and its excellent reputation in the small and medium-size press marketplace, complement and extend Baldwin's product and market coverage.”
“The sale of Kompac enables Varn to focus more of our resources on our core pressroom chemicals operations,” added Steven Wilson, president of Varn International. The closing of the transaction is expected by the end of next month.
Baldwin Technology manufactures accessories and controls for the printing industry. Headquartered in Oakland, N.J., Varn International manufactures pressroom chemicals for use in the printing industry. It is a wholly owned subsidiary of Day International Group Inc.
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