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’s 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. Click read more below for additional detail.
An affiliate of ND Paper Inc. could invest $49 million in a box plant in Racine County that would create 88 jobs, according to a Thursday announcement by the Wisconsin Economic Development Corp.
ND Paper Inc. is already investing up to $189 million in a paper mill near Wisconsin Rapids, which is the state’s largest economic development deal for 2019, according to the WEDC. But an affiliate of the company called Badger Solutions LLC may also make a large investment in southeast Wisconsin.
The ND Paper project in Wisconsin Rapids will convert some of the mill’s equipment to produce materials used for corrugated cardboard boxes. It appears the boxes themselves could be made in Mount Pleasant.
The company in October bought a vacant, 350,274-square-foot industrial building at 7601 Durand Ave. in Mount Pleasant. While located in Mount Pleasant for property tax purposes, the property’s records list an address in neighboring Sturtevant.
ND Paper made that $15.5 million purchase through an affiliate company called Badger Solutions, which the WEDC said will receive up to $600,000 in state tax credits to rehab a building for a “full-service” box plant in Sturtevant. The WEDC list distributed Thursday called that project its seventh-largest economic development deal of the year.
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