Sweden-based Nordvalls has announced the acquisition of European flexo printing company Figo System, which has operations in Kungalv north of Gothenburg.
The acquisition is part of Nordvalls's growth strategy and will enable the company to increase its annual sales to nearly 300 million.
Figosystem current CEO and new head of marketing at Nordvalls Magnus Olsson said the company sees Nordvalls as a natural buyer to Figosystem as it stands in front of a new phase in the development.
"Nordvalls is a profitable and well invested company and we complement each other very well," Olsson said
Figo System, which has sales of 80 million, complements Nordvalls's existing business, both product-wise and geographically.
Nordvalls production includes all kinds of self-adhesive labels, from advanced multi-color labels for decoration and branding to the labels for further processing in thermal and thermal transfer printers.
