Dutch paper manufacturer Crown van Gelder has been rescued from bankruptcy by EPAC Technologies, a California, US-based provider of printing and logistics solutions for hi-tech industry, including publishers and book printers, and relaunched itself at the Hunkeler Innovationdays event in Switzerland.
While the terms of the deal have not been disclosed, Crown van Gelder said it is in its ‘best financial position in [its] 126–year history’, debt-free with €30 million of equity, and anticipates growing its 250-strong workforce this year. The company indicated that it will be making three significant announcements in 2023, the first of which is the new ownership.
‘Having EPAC as our partner is more than we could have dreamed of. CvG and EPAC codeveloped our leading inkjet paper more than five years ago and have continuously innovated even better performing papers. EPAC has always wanted the best for CvG and the industry as a whole. EPAC always told us to sell our unrivalled inkjet paper to everyone, including their direct competitors, without asking for a penny or royalties. They realise there is much more value in innovations and scaling up, than trying to keep things for themselves. This will change the industry in a great way for our customers,’ said Jan Rops, director of CvG.
‘CvG has the best inkjet paper and EPAC has the best quality and automation technology. The fact that we will be able to offer EPAC’s solutions to our key customers will change the world of digital printing and our other key markets. Many customers asked us ‘how is EPAC so successful and efficient?’. Now all of our customers will benefit from the same solutions,’ added Rodney Jansen, sales director of CvG.
‘CvG is an amazing company, with amazing employees, and incredibly loyal customers. We are honoured to be chosen as their partner,’ said Sasha Dobrovolsky, CEO of EPAC.
The paper maker says it plans to grow its inkjet, industrial and alternative fibre papers.
Inkjet papers will be the subject of a Consumables focus feature in the forthcoming March/April issue of Digital Printer. If you are not already registered to receive it, you can do so here for free.
