One French manufacturer has rescued another from administration after it was itself saved from administration six months ago.
The new deal secures a future for Codimag, the leading producer of offset litho label presses used to print for the wine industry in particular. It has been acquired, along with 95% of the jobs, by Smag-X, a producer of label printing and converting equipment with a focus on screen and flexo technology. Smag, as it then was, was acquired from administration in September last year by expanding industrial group X&llence. That deal secured jobs and a French manufacturing based for printing equipment. The latest acquisition makes that proposition stronger.
X&llence is led by Alexandre Burgot-Dervin with an aim of retaining and expanding manufacturing in France. The acquisition of Codimag “is part of a continuing strategy focused on preserving specialised expertise, safeguarding employment and strengthening the French label and packaging printing machinery industry” a company statement says.
Burgot-Dervin adds: “This acquisition goes beyond a mere growth transaction. It reflects an industrial responsibility: preserve French industry, maintain rare skills and continue to produce locally with teams who truly master their craft. What we stand for is a particular vision of industry: sustainable, committed and rooted in the local community.”
The two businesses are located 10km apart, making an integration simpler. The combination of a complementary line up of technology will produce a package aimed at meeting the needs of the wine and luxury goods sectors.
Both companies become part of La France Fab, an initiative to promote domestic production and manufacturing expertise in France. This is also a platform by which the companies strengthen their own position and will help with export initiatives.
The X&llence group also includes label printer DB Groupe, Orleans, which produces labels for industrial, track and trace and luxury brands.
