11 December 2019
Heidelberg Sells Coatings Division
Will still sell coatings under their private brand
Will still sell coatings under their private brand
Heidelberger has sold its Hi-Tech Coatings division for coatings used by the packaging, labeling, and printing industries to Innovative Chemical Products Group’s (ICP Group) Industrial Solutions Group (ISG) division,  based in Itasca, IL, USA. The divestiture is a part of Heidelberg’s initiative to focus on core activities . With the sale, three sites and a total of around 60 employees will be transferred to ICP’s ISG division.
Manufacturer of aqueous, UV and LED Coatings
Manufacturer of aqueous, UV and LED Coatings
The transaction also established a strategic partnership between Heidelberg and ICP Group to ensure Heidelberg’s future sales of its coating portfolio to its customers. The purchase price amounts to EUR 38.5 million. Heidelberg expects the transaction to generate non-recurring income of around EUR 20 million.  The sale is expected to be effective in 2019. Heidelberg had bought this operation back in 2008. 
 
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