German ink maker Siegwerk is to leave the newspaper and web-offset market segment with its planned sale to Flint Group.

A "binding offer" to Siegwerk Druckfarben covers the web offset business including all technical expertise and product portfolios relating to Siegwerk's Heatset and Newsink product lines.

Some 76 full time employees are being offered transfers to other areas within the Siegburg site, with Flint intending to employ a "core team" from the Siegwerk web-offset business after the sale. Siegwerk will continue its publication gravure business, which manufactures printing inks for high volume magazines and catalogues, will be continued, a segment in which it claims 45 per cent market share in Europe.

Siegwerk says it will work closely with Flint Group to ensure that any handover of business is completed without disruption and that the same products and services for the customers of both companies are maintained.

Flint chief executive Antoine Fady says the group is very excited by the transaction: "This investment confirms our long term commitment to customers in these key market segments and reinforces our unique offering to the market of inks, press room chemicals and transfer media products.

"This commitment guarantees a long term supply position for our heatset and news ink

customers and further enhances our strong focus on the print media and packaging markets across the world."

Siegwerk will focus on core business in packaging printing, which is growing globally, and plans to build its position in inks and coatings for labels and flexible packaging: "It is here where we see significant growth opportunities particularly within the strongly accelerating Asian markets," says business," says chief executive Herbert Forker.

Completion is still subject to customary closing conditions, including approval by competition authorities.

Headquartered in Luxembourg, Flint Group employs 6800 people with 2014 revenues of 2.1 billion Euros. It claims to be number one or two supplier in every major market segment it serves globally.

Siegwerk is a sixth-generation a family-owned company with more than 180 years of experience and about 4800 employees in more than 30 countries.