Business News

Possehl Group Remains on Growth Course

Thursday 18. November 2010 - Continuing along its path of growth, the Lübeck-based Possehl Group acquired the business operations of the Augsburg-based company Böwe Systec AG i.I., formerly listed in the SDax, together with its global distribution network yesterday. The acquisition of Böwe is still awaiting approval by the German Federal Cartel Office.

Böwe is a globally active supplier of highly automated printing and mailing centers, known as mailrooms. Böwe is the European market leader with its main product, enveloping machines. In addition to the high-performance enveloping facilities, its product portfolio encompasses personalizing mailing systems for plastic cards, solutions for print processing and print finishing, highly efficient mailroom systems, and all the services associated with these products. Their main customers include banks and insurance companies, telecommunications firms, public authorities, and mass-mailing service providers. That part of the Böwe group which was acquired by Possehl has a full-time workforce of some 1,200 employees, including around 450 at the headquarters in Augsburg. The company can look back on a 75-year corporate history. In the future, it will trade under the name of “Böwe Systec GmbH” as a separate division within the Possehl Group.

Uwe Lüders, Chairman of the Executive Board of L. Possehl & Co. mbH, describes the development as follows: “The acquisition of Böwe embodies the continuation of our strategy of sustainable growth, including through the acquisition of new divisions. Böwe has outstanding products, a very good market position, highly-qualified employees, and a global distribution network. We are convinced that, on this foundation and under the umbrella of Possehl, we can take the company back to the good results it achieved before the onset of the economic crisis.”