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Heidelberger Druckmaschinen AG (Heidelberg) is looking to further improve its market position in the growing packaging printing segment by taking its long-standing sales partnership with Masterwork Group Co., Ltd. (Masterwork), China\u2019s largest manufacturer of die-cutters and hot-foil embossing machines, to a whole new level. Based in the Chinese city of Tianjin, Masterwork is to obtain around 8.5 percent of the Heidelberg share capital under a cash capital increase from authorized capital excluding shareholder subscription rights. The implementation of such capital measure is subject to approval by Heidelberger Druckmaschinen AG’s supervisory board. The proposed capital increase provides the opportunity for Heidelberg to acquire a further strategic anchor shareholder with a long-term investment horizon as well as to strengthen its equity. Subject to approval by the relevant bodies on both sides and the Chinese authorities, the capital measure should provisionally take place by the end of the first calendar quarter of 2019. The issue price of the new shares is set to be EUR 2.68. If the market price significantly outstrips the envisaged issue price, this will be renegotiated in line with statutory requirements. The funds Heidelberg generates with the capital increase are to be used to accelerate its digital agenda (digitizing products, processes, and business models, for example) and for general business financing. Masterwork supports the Heidelberg strategy and is demonstrating its clear commitment to long-term collaboration. Heidelberg is currently considering and discussing whether it will seek to obtain a shareholding in Masterwork.\n\u201cThe Heidelberg Management Board and Supervisory Board are delighted that our long-standing, successful collaboration with Masterwork is to become much closer. This opens up further potential in the growing packaging printing segment, especially in China \u2013 the world\u2019s largest individual market. We are expecting better capacity utilization at our plants across the globe to make us far more efficient, but I would like to stress that this will not weaken our sites in Germany. We are delighted that in Masterwork we are obtaining another long-term investor that firmly believes in the company\u2019s innovative prowess, strategy, and potential for the future,\u201d comments Heidelberg CEO Rainer Hundsd\u00f6rfer.
\n\u201cHeidelberg is our ideal partner for jointly leveraging growth potential in the packaging printing market. The stake we are obtaining in this long-established company and world market leader underlines that we are in it for the long haul and are confident Heidelberg has adopted the right strategy,\u201d says Masterwork President Li Li.<\/p>\n