Masterwork Machinery : Buys EUR25mn Heidelberg Assets
SHENZHEN, July 28, SinoCast -- Masterwork Machinery signed a letter of intent to acquire high-end die-cutting machine- and folder gluer-related tangible and intangible assets and business ofGermany-based Heidelberg for EUR 25 million.
Masterwork Machinery also sealed a distribution agreement with Heidelberg. As agreed, the latter will act as an excusive agent for products of the former and related aftersales service in markets except China and Japan.
Heidelberg is the biggest producer of sheet-fed offset presses in the world and a leading global whole-set printing equipment maker and printing media solution provider.