According to the two manufacturers, the new combined company will to benefit from the complementary geographic footprints, create extensive synergies, ensure long-term viability, and provide value-oriented solutions, especially in the area of aftermarket services.

The current shareholders of Goss, American Industrial Partners, and of Manroland, Possehl Group (Lübeck), will continue to co-own the combined company. Subject to regulatory approval, the merger is expected to be completed by the middle of 2018.

Alexander Wasserman, CEO of Manroland, said, “Manroland is on the path for continued success. We want to continue to develop this path by creating synergies, fostering the further development of our R&D activities and strengthening our innovation focus. Our customers will be able to choose from a wider portfolio of products and services.”

Mohit Uberoi, CEO of Goss said, “This combination will enable us to achieve extensive synergies that will help us optimally serve our customers into the future. The combination will strive to provide a best-in-class product offering and customer service.”

The combined company will further continue its activities in the fields of innovative web printing systems, services, consumables and system components for the newspaper, commercial, packaging and digital printing markets.

Additionally, the expansion of the business with retrofits and upgrades, and the systematic expansion of e-commerce activities will be major areas of focus.

"This merger will take Manroland to a new height in retrofit, upgrade and service market for all high-speed web offset machines," said Snehasis Roy of Times Group.

Goss International’s Contiweb business, which manufactures drying and web-handling products will operate as an independent company. After the Goss-Manroland transaction closes, Contiweb will become a separate company under the ownership of American Industrial Partners with operations headquartered in Boxmeer, Netherlands

Bert Schoonderbeek, managing director at Contiweb, said, “We will continue to build upon our successful relationship with both Goss and Manroland and are looking forward to continuing the cooperation as a strong partner of the combined company as we pursue other diversification opportunities.”

The sales and service channels of Contiweb will remain unchanged until the transaction closes.

In the first 90 days of 2018, this is the third instance of consolidation among equipment manufacturers in the printing and graphic arts industry. Earlier this year, Fujifilm announced the acquisition of Xerox for USD 6.1-bn and Kolbus sold its perfect binding and bokline business to Muller Martini.