Baldwin chairman and CEO, Gerald A. Nathe: pleased with the successful completion of the Oxy-Dry acquisition
Global supplier of accessories and controls technology for the printing industry, Baldwin Technology Company, has completed the acquisition of the Oxy-Dry group of companies for approximately US$18m in cash, subject to adjustments. Concurrently, Baldwin has signed an agreement with LaSalle Bank (ABN Amro) whereby LaSalle has agreed to extend to the company credit facilities totaling US$50m. Under these credit facilities, the company has borrowed US$35m to replace its previous credit facility with Maple Bank GmbH and to finance the acquisition.
Baldwin chairman and CEO Gerald A. Nathe, says, “We are pleased with the successful conclusion of this acquisition and are looking forward to the additional support, service and product offerings that the combined, integrated companies will allow us to offer our customers."
