06.07.2016 – The takeover of Iberica AG S.A. in Spain by German press manufacturer Koenig & Bauer AG (KBA) announced on 23 May 2016 is now complete with the signing of the purchase agreement by Officine Meccaniche G. Cerutti S.p.A. (OMGC) from Italy. The KBA Group expands its extensive portfolio for packaging customers in print finishing with the acquisition of the die-cutter manufacturer based in Barcelona. Iberica with some 60 staff produces medium and large-format flatbed die-cutters for board and corrugated packaging. KBA has been active in this market successfully for some time with its presses. The takeover and integration of Iberica underscores the global KBA Group’s focus on growth markets and greatly improves the Spanish die-cutters’ growth prospects. The parties agreed not to disclose the purchase price or further details regarding the takeover. For the transaction OMGC has been advised by Fredericks Michael & Co.