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Aug 30, 2001 12:00 AM
Baldwin Technology Co., Inc. (Shelton, CT), manufacturer of accessories and controls for the printing industry, has signed a non-binding letter of intent to acquire the Kompac business of Varn International, Inc. (Oakland, NJ), a wholly owned subsidiary of Day International Group, Inc.
"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," notes Gerald Nathe, Baldwin chairman and CEO. Adds Steven Wilson, president of Varn International, "The sale of Kompac enables Varn to focus more of our resources on our core pressroom chemicals operations."
The transaction closing is expected to occur within the next two months, subject to completion of a definitive agreement.