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AI Boom Sparks German Start-Up Recovery

Petra Löwer (Germany)
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AI Boom Sparks German Start-Up Recovery

AI Boom Sparks German Start-Up Recovery

Despite recent dips in financing, more and more young technology companies are being founded in Europe’s largest economy. The recovery is being driven in part by the intense interest in artificial intelligence applications.

The numbers of new start-ups in Germany is back on the rise. That’s the conclusion of a survey done by the internet platform Startupdetector in association with Germany’s Start-Up Association.

According to the study 1,293 start-ups were founded in the first half of this year – a 16 percent increase over 2022. New start-ups in the German capital, Berlin, recorded a 40 percent increase, as did fledgling companies in Germany’s second-largest city Hamburg.

One conspicuous growth sector is artificial intelligence. According to the industry initiative Applied-AI, the number of AI start-ups is up 67 percent year-on-year.

“The positive figures on start-ups in the area of artificial intelligence show that Germany as a business location and German entrepreneurs are well-positioned in the competition for the AI market,” says Germany Trade & Invest artificial intelligence expert Asha-Maria Sharma. “Trustworthy artificial intelligence from Germany is a driver of innovation in the established economy as well and is part of a sovereign European ecosystem.”

Another hot sector according to the Start-Up Association is tourism, where the number of newly founded companies in Germany is up 111 percent.

www.gtai.de

 

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Germany Joins Europe Startup Nations Alliance (ESNA)

Petra Löwer (Germany)
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Germany Joins Europe Startup Nations Alliance (ESNA)

Germany Joins Europe Startup Nations Alliance (ESNA)

Europe’s largest economy is backing the initiative to optimize conditions for fledgling companies throughout the European Union and Iceland.

Germany’s startups commissioner, Anna Christmann, has announced that Germany is becoming a member of the Europe Startup Nations Alliance (ESNA). She made her statement today at the Viva Technology Conference in Paris, France.

The German Ministry for Economic Affairs and Climate Action has charged the international economic promotion agency Germany Trade & Invest (GTAI) with representing the country in the new body.

“We’re enormous happy to be taking on this new responsibility,” says GTAI CEO Robert Hermann. “Germany perennially ranks among the best startup environments in the world and is at the top of the Eurozone. Berlin and Munich, in particular, are known around the globe as premium locations for innovative young firms. But one of our national strengths remains our central position within the EU. We look forward to working with all our friends and partners for the mutual benefit of startups throughout the bloc.”

ESNA, which was two years in the making, establishes common standards for startups on everything from market entry to access to stock options and financing to establishing digital-first interactions with authorities.

www.gtai.de

 

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Volvo Group and Westport Sign Letter of Intent to Establish Joint Venture to Reduce CO2 Emissions from Long-Haul Transport

Petra Löwer (Germany)
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Volvo Group and Westport Sign Letter of Intent to Establish Joint Venture to Reduce CO2 Emissions from Long-Haul Transport

Volvo Group and Westport Sign Letter of Intent to Establish Joint Venture to Reduce CO2 Emissions from Long-Haul Transport

Utilizing HPDI Technology to Accelerate the Decarbonization Efforts of Global OEM Customers

Volvo Group (VOLVb.ST) and Westport (TSX: WPRT / Nasdaq: WPRT), a leading supplier of advanced alternative fuel delivery systems and components for the global transportation industry, have signed a non-binding letter of intent to establish a joint venture to accelerate the commercialization and global adoption of Westport’s HPDI fuel system technology for long-haul and off-road applications. Volvo and Westport share the vision of creating sustainable transport solutions to accelerate the decarbonization efforts of global trucking, engine, and equipment manufacturers for their customers and society.

Westport’s HPDI fuel system is a high-performance solution supporting significant carbon reductions in hard-to-abate sectors like heavy-duty and off-road mobility. HPDI enables the world’s trucking and off-road equipment manufacturers to address the challenges of meeting the regulatory requirements of Euro 7 and the US EPA while offering end users affordable options that are powered by carbon-neutral fuels like biogas, zero-carbon fuels like green hydrogen and other renewable fuels. While Volvo will be a key customer of the joint venture, the joint venture’s mandate will be to enhance commercialization of HPDI through the addition of new trucking and equipment manufacturers as customers.

Westport will contribute current HPDI assets and activities including related fixed assets, intellectual property, and business into the joint venture. Volvo will acquire a 45% interest in the joint venture for the sum of approximately US$28 million (approximately SEK 300 million), plus up to an additional US$45 million (approximately SEK 500 million) depending on the performance of the joint venture.

Volvo’s ambition is to reach net-zero greenhouse gas emission-enabled products, solutions, and services by 2040. Volvo believes that the future will demand diverse propulsion solutions for diverse applications to meet customers’ needs and environmental demands. Volvo advocates for a three-pronged approach: battery-electric, fuel-cell electric and internal combustion engines.

“Decarbonization with internal combustion engines running on renewable fuels, especially with HPDI, plays an important part in sustainable solutions. HPDI has been on the road in Volvo trucks for over five years and is a proven technology that allows customers to significantly reduce CO2 emissions in LBG (liquefied biogas) applications here and now and is a potential avenue for hydrogen,” says Lars Stenqvist, chief technology officer of Volvo.

“Westport is advancing fuel system solutions to help our customers affordably address the most pressing challenge of carbon reduction, while continuing to utilize existing manufacturing infrastructure,” said David Johnson, chief executive officer, Westport. “The joint venture with Volvo is a natural extension of both companies’ commitment to accelerating global carbon reduction and we are proud to partner with such a bold supporter of the future of the internal combustion engine. Combining our expertise strengthens HPDI’s position in the market and underscores Westport’s commitment to developing affordable fuel system technology that supports significant CO2 reductions in hard-to-abate sectors like heavy-duty transport and off-road applications, including a pathway to power equipment with zero carbon fuels like hydrogen.”

Completion of the joint venture is conditional on the successful negotiations and execution of a definitive investment agreement, joint venture agreement, supply agreement, and development agreement. The joint venture is expected to launch in the first half of 2024.

For more information, visit www.wfsinc.com

 

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Ecoclean’s Exhibits at Parts2clean: as Versatile as the Cleaning Tasks Efficient and Sustainable Solutions for Present and Future Parts Cleaning Challenges

Petra Löwer (Germany)
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Ecoclean’s Exhibits at Parts2clean: as Versatile as the Cleaning Tasks Efficient and Sustainable Solutions for Present and Future Parts Cleaning Challenges

Ecoclean’s Exhibits at Parts2clean: as Versatile as the Cleaning Tasks Efficient and Sustainable Solutions for Present and Future Parts Cleaning Challenges

An essential step in manufacturing processes, parts cleaning significantly contributes to product quality and adds considerable value. In the past years, the related tasks have become much more varied and challenging. At parts2clean (hall 10, booth C38), Ecoclean will be showcasing a product portfolio optimally tailored to the highly different cleaning applications and requirements in the various industry sectors. The company’s presence at the industry fair in Stuttgart from 26 to 28 September will be rounded off by future-proof service solutions, such as the new virtual showroom, and options for improving energy efficiency and sustainability.

The UCMSmartLine, shown here with connection to a clean room, represents the solutions for applications in high-purity cleaning consisting of tandardized modules for the various process steps and a flexible transport system.

The range of cleaning applications and cleanliness requirements has never been as broad as today. On the one hand, high-technology industry sectors such as semiconductors, medical, sensors and analytics as well as precision optical are reliant on the efficient and dependable removal of ultrafine particulate contaminants in the submicron range, and of residual film-type contamination, some of which have a thickness in the nanoscale. On the other hand, the general industry, which encompasses a multitude of sectors, first and foremost presents a need for removing large amounts of chips and machining fluid. Between these extremes, there are countless cleaning tasks with product- and sector-specific cleanliness specifications. For these many-faceted applications and requirements, Ecoclean and UCM will be presenting an optimally tailored offering of products and services at parts2clean (hall 10, booth C38). They are conceived to meet the respective cleanliness specifications not only in a stable and reliable but also efficient and resource-saving manner.

 

Sustainable and efficient cleaning solutions for all tasks

One topical section of the booth is committed to high purity cleaning and integrated in the fair’s ‘High Purity Lane’. A UCMSmartLine will be shown live there. It will demonstrate the possibilities of combining standardized modules for the process steps wash, rinse, dry, load and unload, and flexible part transport systems, into solutions capable of meeting even the highest cleanliness requirements. Special process technologies such as PPC (Pulsated Pressure Cleaning) also contribute to these results. Information on the testing facilities offered by the manufacturer’s High Purity Test Center, which was officially inaugurated at the end of 2022, as well as application examples complete the offering in this section.

Castings,, machined workpieces, stamped parts, bent parts, pressed and deep- drawn parts, hydraulic or pneumatic fittings, additively manufactured components – there is a near endless variety in the general industry of components made from various materials. Downstream processes such as joining, coating and assembling also call for specific cleanliness levels and reliable functioning of the products. For these tasks ranging from pre- cleaning via intermediate to final cleaning and precision cleaning, the manufacturer showcases chamber-type systems of standard and bespoke designs for aqueous and solvent based cleaning, as well as multi-chamber immersion cleaning systems. By way of example, an EcoCwave machine will be shown live on the booth to illustrate the various features and process options.

An all-in approach to Service

Ecoclean will also provide insights into its new virtual showroom, combining a three-dimensional environment with virtual reality. The designation ‘showroom’ actually doesn’t do it justice, as nearly every company site can be visited. Even the smallest details of the cleaning equipment and systems exhibited can be explored in three-dimensional space with a VR headset. Moreover, the virtual world can be connected to the real world. Among other things, this offers customers the possibility to attend cleaning trials live from anywhere in the word, and to obtain additional information in the process. This innovative communication platform conveys the impression that users are physically present.

The team at the booth will also inform visitors about forward-looking service concepts, automation and digitization solutions, available training options, and possibilities of realizing energy and resource savings in cleaning processes.

The new virtual showroom combines a three-dimensional environment with virtual reality and enables the exhibited systems to be explored down to the smallest detail.

www.ecoclean-group.net

 

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UBQ Materials Named as Deep Tech Leader in Industry Ranking

Petra Löwer (Germany)
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UBQ Materials Named as Deep Tech Leader in Industry Ranking

UBQ Materials Named as Deep Tech Leader in Industry Ranking

Inaugural XB100 list by XPRIZE and Bessemer Venture Partners recognizes top companies commercializing scientific research into deep tech for a positive societal impact

UBQ Materials, climate tech developer of advanced materials made from waste, today announced that it has been named to the inaugural XB100, the definitive ranking of the top 100 private deep tech companies, published by XPRIZE and Bessemer Venture Partners.

The XB100 was launched to celebrate the entrepreneurs who are commercializing scientific research into deep tech and spotlight how they are impacting our society across nine categories. The XB100 evaluation process involved ranking companies across four factors: impact on humanity, valuation, scientific difficulty, and commercial traction. For impact on humanity, XB100 enlisted the help of a judging panel of scientists and industry experts who assist in the evaluation.

“UBQ’s inclusion in this ranking exemplifies how innovation and technology can extend beyond software to break through the norms of our physical world,” commented Jack ‘Tato’ Bigio, Co-Founder and Co-CEO of UBQ Materials. “UBQ is introducing a sustainable alternative to oil-based plastics, reducing the carbon footprint of thousands of products across industries including construction, logistics and supply chain, consumer goods and even automotive. ”

UBQ is an advanced material made entirely from unsorted organic and unrecyclable household waste that has been diverted from landfills or incineration. It is a novel, worldwide patented material that has already been adopted by leading industry brands from Mercedes-Benz to PepsiCo and McDonald’s. This year, UBQ will open its new facility in Bergen Op Zoom, Netherlands, with an annual production capacity of 80,000 tons of UBQ, converting 104,600 metric tons of annual waste into a new raw material. With the support of the municipality, UBQ’s industrial-scale facility and research & development lab plays a strategic role in transforming the region into a clean tech hub.

“The companies on the XB100 list represent the most valuable and impactful private companies in the deep tech sector,” said Tess Hatch, partner at Bessemer Venture Partners. “The XB100 awardees defy imagination and will reshape the human experience.”

“Investments in the commercialization of scientific research propel humanity forward,” said David Cowan, partner at Bessemer Venture Partners. “After years of investing in deep technologies ranging from quantum computing to rocket technology to next-generation biotherapeutics, Bessemer has marveled at the potential of XB100 companies to tackle profound problems facing our species and our planet.”

“We’re honored to recognize the innovators featured on the inaugural XB100 and their important impacts on society,” said Anousheh Ansari, CEO of XPRIZE. “As we work to empower problem-solvers around the world to address humanity’s greatest challenges, XPRIZE celebrates these great minds and our collective impact.”

www.ubqmaterials.com

 

 

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‘Circular Economy’ Dream Coming True at New EcoCortec Plastics Recycling Center

Petra Löwer (Germany)
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‘Circular Economy’ Dream Coming True at New EcoCortec Plastics Recycling Center

‘Circular Economy’ Dream Coming True at New EcoCortec Plastics Recycling Center

EcoCortec is bringing the “circular economy” one step closer to reality for Europeans who want to turn plastic waste into something useful. After several years of planning and pandemic interruptions, the European manufacturer of rust preventative packaging has installed a state-of-the-art Erema regranulation machine to reprocess plastic scrap and waste onsite. Customers and other local businesses are now invited to bring their used plastic bags to EcoCortec for recycling into new materials.

Longtime Recycling Dream Becomes Reality

The new plastics recycling plant has been the dream of Croatian-American EcoCortec founder Boris Miksic since 2018, when the first plans were drawn up for a polymer processing plant in the Baranja region of Croatia. As part of EcoCortec’s ongoing commitment to sustainable development, the goal was to prolong the lifetime of materials made at the plant by focusing on “circular economy” initiatives for responsible sourcing and disposal. After a pandemic delay, the project came back to life with slight modifications in 2022, when EcoCortec purchased a neighboring building. The facility was reconstructed to meet Croatian building codes and secure necessary utilities before the state-of-the-art Erema regranulation machine was installed July 15th, 2023. Employee training took place shortly thereafter, and EcoCortec is now excited to start reprocessing plastic waste as soon as it becomes available from four main sources:

  1. Scrap from in-house production
  2. Used packaging from incoming shipments at EcoCortec
  3. Used packaging from incoming shipments at several local companies (e.g., building contractor, building material and beverage retailers, plastic company) who have previously agreed to collect packaging waste for EcoCortec
  4. Used VpCI Films and Bags from EcoCortec distributors and end users who can earn reprocessing credits by sending the materials back for regranulation

EcoCortec is especially eager to expand this last category of plastic waste suppliers to create a win-win-win situation for EcoCortec, its customers, and the environment.

From Recycling to Rust Prevention

EcoCortec plans to add the recycled content back into its rust preventative VpCI Films and Bags, which inhibit corrosion by forming a molecular protective layer on metal parts packaged inside. These specialty packaging materials replace the use of traditional rust preventatives that are greasy and often difficult to remove. In contrast, metal parts packaged in VpCI Films and Bags can be installed and used immediately without further cleaning.

Meeting New Recycling Benchmarks

Initially, EcoCortec will add 30% recycled content back into its VpCI Films upon request. The company plans to extend this high level of recycled content to all standard VpCI Films as the volume of recyclable materials increases. With this step, EcoCortec is well on its way to achieving the European goal of incorporating 35% recycled content into plastic packaging by 2030. EU directives and goals aside, EcoCortec is simply excited to see a longtime dream of environmental responsibility blossom into reality and invites you to become part of the “circular economy” by participating in the new program. Contact us today to learn more about seeing your own plastic recycling dream come true at EcoCortec!

www.cortecvci.com

 

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Actuator Without Active Cooling Reduces Energy Consumption

Petra Löwer (Germany)
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Actuator Without Active Cooling Reduces Energy Consumption

Actuator Without Active Cooling Reduces Energy Consumption

With HRScool Evo, hot runner specialist Oerlikon HRSflow has developed a system in which the hydraulic cylinder that positions the pin does not require separate, active water cooling. Depending on the system size and application, this can reduce energy consumption at the drops by up to 10%. In addition, the low number of components reduces the assembly and maintenance time. This innovative technology, which contributes to more sustainability in injection moulding, can replace conventionally cooled designs in a variety of applications across a wide temperature range.

As high-precision actuators, the cylinders of hot runner systems are crucial components for continuously trouble-free process control. In conventional systems, water cooling ensures that the optimum working temperature is maintained. With HRScool Evo, a thermally insulating air gap towards the cavity reduces both the heating of the cylinder and the thermal loss of the manifold. In addition, a cover made of a highly heat-conductive material on the opposite side ensures optimum heat dissipation towards the cold clamping platen. For perfect matching, the height can be adjusted via telescopic supports, enabling outstanding heat transfer and thermal uniformity over the entire hot runner system to maximise part quality. Thanks to the high efficiency, the more complex water-cooled systems can be replaced in many cases without compromise.

Says Massimo Rossi, R&D Director at Oerlikon HRSflow: “Thanks to the concept used, HRScool Evo has a wide range of market applications, including the automotive and the packaging industries. Apart from energy efficiency, one of the most important advantages is the elimination of all pipes and connections required for water cooling. Where these are not present, they cannot become clogged or corroded. The ability to remove the actuators while the needles remain in the hot runner system also reduces maintenance. And because the reduction to one thermally insulating and one thermally conductive element enables a compact design, small cut-outs in the clamping plate are sufficient.”

For further information: www.hrsflow.com

 

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Yash Pakka Limited Simplifies it’s Brand Identity; Renames as Pakka Limited

Petra Löwer (Germany)
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Yash Pakka Limited Simplifies it’s Brand Identity; Renames as Pakka Limited

Yash Pakka Limited Simplifies it’s Brand Identity; Renames as Pakka Limited

The 42-year-old company is committed to creating and promoting sustainable packaging solutions for a greener planet.

After solidifying its presence in the market, Yash Pakka Limited, a leading manufacturer of sustainable packaging solutions, has renamed itself Pakka Limited. Effective immediately, the 42-year-old company envisions simplifying its brand identity and unifying its presence across all regions globally with this renaming. This change involves shortening the brand name to a one-word name, reflecting a commitment to a simpler yet global brand presence.

While the name has changed, the visual identity of Pakka Limited remains intact, and there will be no changes to how the company operates its business. As a responsible and environmentally conscious organization, Pakka Limited stands firm on its purpose to work towards a cleaner planet. Its aim is to foster strong relationships with customers, vendors and Mother Earth remains unchanged. At the core of its business, the brand remains focused and dedicated to sustainability and environmental responsibility.

Ved Krishna, Pakka, said,”“Today, we honor the legacy of fierce determination, innovation, and creative problem-solving by a name change— from now, we will be called Pakka. Pakka is a combination of “packaging” and “ka”— which means soul. Packaging with a soul means you get our best effort. While we have distributed globally for 20 years, for the first time we are setting up international production facilities. With this in mind, we need a name that is simple, universal, and relevant. And, of course, the double-K is a subtle nod to my father, KK Jhunjhunwala. As he often modeled: we are led by our convictions. We are grateful to so many of you who have been with us on this ride of building good business by doing good. We will continue to contribute to a cleaner planet. We look forward to creating a deeper impact together.”

This change comes at a time when the company has recorded remarkable growth in the last couple of years and is targeting a huge upside in the years to come. In FY23, Pakka Ltd. achieved a record-breaking FY profit of Rs. 72.3 crore (EBIDTA of 23%). Furthermore, the company saw a surge in exports, accounting for 27% of total volume production, mainly due to a remarkable 24% increase in moulded tableware production, which currently utilizes nearly 50% of the company’s installed capacity. In its pursuit of growth. Pakka is embarking on two major ventures. Additionally, Pakka is expanding its operations in India at the Ayodhya facility through Project Jagriti, with an investment of ₹550 crores.

Over the past few years, Pakka Limited has taken significant steps in addressing the global issue of single-use plastic. The company has expanded its operations with new offices in North America and a major investment in Guatemala, laying the foundation for international growth. It plans to establish a facility in Guatemala, anticipated to commence operations by mid-2025, boasting a production capacity of 400 tonnes. The project requires an investment of US$250 million and aims to create the world’s largest compostable flexible packaging and moulded fibre facility using bagasse fiber and aims to reach $1 billion (Rs. 8,250 crores) total revenue by FY30.

The company started in 1981 as Yash Papers Limited, a leading manufacturer of low-grammage kraft paper. Over the last four decades, the company has transformed from a paper manufacturer to a sustainable packaging company. It was rebranded as Yash Pakka in 2019 to align with the mission of creating and promoting compostable packaging solutions. Since then, Pakka Limited has experienced remarkable growth, with revenues from INR 255.43 crores to INR 419.89 crores, registering an increase of approximately 65% and profits going up to 150%. Pakka Limited offers a wide portfolio of regenerative packaging for food carry, service, and packaging. Its flagship initiative, CHUK, has become a category leader in compostable foodservice packaging and is embraced by major cities in India. The company is actively exploring flexible packaging solutions and engaging in off-take agreements for future production in India and Guatemala.

www.pakka.com

 

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Tosaf Fusion on Expansion Course With Customised Solutions for the Compounding and Packaging Industry

Petra Löwer (Germany)
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Tosaf Fusion on Expansion Course With Customised Solutions for the Compounding and Packaging Industry

Tosaf Fusion on Expansion Course With Customised Solutions for the Compounding and Packaging Industry

Tosaf Fusion, developer and manufacturer of customised solutions for compounders and packaging producers, is clearly on course for expansion. The small but dynamic company was founded in 2017 as a subsidiary of Tosaf Compounds Ltd. It now holds a leading position in innovative products such as modifiers for PA, compatibilizers for PP and HFFR cable compounds, as well as tie layers for PE applications in agriculture and packaging. These products complement Tosaf Compounds’ comprehensive portfolio, making the company the only one in the world today that can produce both masterbatches and grafted polymers. Due to steadily increasing demand, Tosaf Fusion is currently relocating its production to a larger facility in Israel’s Alon Tavor industrial area.

An operating area of 7000 m², additional production lines and the support of Tosaf’s enormous production capacities, logistics and inventory will create optimal conditions there to further expand the broad product portfolio, to continuously supply customers, to supply them efficiently and at the same time to ensure high product quality. This will enable Tosaf Fusion to continue to provide innovative solutions to the highly competitive world of polymer compounding and packaging that improve product performance and help meet industry standards.

Dynamic and agile in multiple applications

As a specialist in grafted polymers, the company uses advanced chemical processes to create completely new polymers with improved properties by incorporating functional molecules. Compounders use these as coupling agents in the production of material composites, such as glass-fibre reinforced plastics, wood-plastic composites (WPC) or aluminium-polymer bonding. Beyond, Tosaf Fusion has extensive expertise in the impact modification of polyamides and tie layers for multilayer films.

To increase sustainability, the company has also developed compatibilizers that improve the properties of recycled materials and support the effective use of waste materials. A collaboration with Tosaf Fusion opens doors to a range of additional products from Tosaf’s comprehensive offering. Accordingly, the company’s customer base ranges from compounders to flexible and rigid packaging manufacturers to film producers.

Tailored and customer-oriented cooperation

A particular strength of Tosaf Fusion lies in the possibility of tailoring, for example, the flow properties or the binder concentration specifically and individually for the respective requirements. This and the personal support ensure a seamless integration of these products into existing processes, combined with high efficiency and optimised results.

Dr. Meirav Fleischer, Managing Director of Tosaf Fusion, says: “Thanks to our in-depth industry knowledge and experience in compounding and film production, we understand the challenges our customers are struggling with. And we have the knowledge to offer tailor-made solutions and to support and advise customers in practice. We emphasise open communication and knowledge sharing in close collaboration, rather than selling mysterious ‘black boxes’. This approach fosters strong partnerships and mutual growth.”

Corrugated sheet success story

As a manufacturer of corrugated sheet made from 100% recycled material, a customer was faced with the problem that their product had inconsistent mechanical properties and therefore variations in quality and performance. Tosaf Fusion’s dedicated specialists worked closely with the customer to understand their specific needs and objectives. This resulted in a customised approach that included the use of special additives and optimisation of the production processes. This made it possible to avoid the inconsistencies and achieve consistent mechanical properties that even exceeded industry standards. Thanks to the product quality thus achieved, the client gained a competitive advantage in the market, as its ability to consistently meet industry standards opened doors to new perspectives and partnerships.

Dr. Fleischer sums up: “Our customised, innovative solutions open up new opportunities for companies worldwide. With our upcoming expansion, collaborative approach and expertise, we stand ready to continue changing the industry.”

www.tosaf.com

 

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IN Groupe Acquires Gleitsmann Security Inks

Petra Löwer (Germany)
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IN Groupe Acquires Gleitsmann Security Inks

IN Groupe Acquires Gleitsmann Security Inks

IN Groupe today announces that it has agreed to acquire 100% of the shares of Gleitsmann Security Inks GmbH (“GSI”) from hubergroup Deutschland GmbH for an undisclosed consideration in cash.

IN Groupe (formerly known as Imprimerie Nationale) is a French-headquartered global specialist in identity and secured digital services, addressing more than 130 countries in the world. In addition to its solutions dedicated to legal and professional identity security, IN Groupe develops and sales leading- edge security components for identities, and banknotes through its dedicated brands Surys (optical components) and SPS (electronic components).

This acquisition is part of the implementation of the Digital Odyssey 2025 Plan and the assertion of IN Groupe, through its Secure Components Business Unit, as a reference player for identity and banknote security. The complementary nature of both companies will strengthen IN Groupe’s products portfolio to meet the needs of Governments and Central banks in securing credentials and banknotes for both Euro and export markets.

Didier Trutt, Chairman and CEO of IN Groupe says: “As a national printing company, it is part of IN Groupe’s strategic plan to provide governments and administrations with security solutions for which IN Groupe masters the critical components, such as secure inks, and can thus develop the security of tomorrow for identity and banknotes.”

GSI is a leading global manufacturer of high security printing inks and associated auxiliaries. With its worldwide operations based in Berlin, Germany, and a history of 175 years it is a trusted partner of many state print works and commercial security printing companies throughout the world.

The business has 80 employees and is expected to generate a double-digit million EUR figure of revenue in this calendar year and throughout the business plan period.

Frederic Trojani, Executive Vice President of IN Groupe Secure Components Business Unit: “GSI’s know-how will provide IN Groupe with a solid platform to create new solutions for the currency and identity market. It will complete our already large product portfolio to better serve our private and public customers in the security space.”

“The sale of our shares in GSI will enable us to continue investing in the future growth of our new Chemicals Division and other strategic projects.” said Heiner Klokkers, Chairman of the Management Board of hubergroup. “I am glad that the transaction at the same time provides GSI with many synergies for the future expansion of its business.”

Ulrich Walter, Managing Director of GSI, added: “From our perspective, IN Groupe is an ideal, reputed and well-established player in the field of high security printing, who is supportive of GSI management’s plan for organic growth and expansion of its customer base and investment in our product portfolio.”

www.ingroupe.com

 

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