A release dated April 12 from the Dayton, Ohio headquarters of Day International says that any transaction would be subject to receipt of regulatory approvals and an agreement being reached on the terms of the transaction, as well as other customary closing conditions.
"This process is ongoing and there is no certainty that the discussions will lead to an agreement or that, if an agreement is reached, a transaction will be concluded," continues the statement.
Day International and Flint Group do not intend to comment further regarding the discussions or any possible transaction until an agreement is reached or the discussions have terminated.
Privately-owned Day International was founded in Dayton, Ohio in 1905. It operates production, sales, and distribution centres in North America, Latin America, Europe and the Asia Pacific.
Day International's product lines include dayGraphica printing blankets and sleeves, david M printing blankets, Varn pressroom chemicals, Rotec flexographic sleeve systems, dayCorr diecutting blankets and day-Flo pre-inked rolls.
Flint Group serves the global printing, converting, and colorants industries. Its companies develop, produce and market a wide range of conventional and UV printing inks on a global basis, with regional operations that provide local service throughout Europe, North America, Latin America, Asia, and India/Pacific.
Other companies in the group include Flint Group Printing Plates, specialising in photopolymer printing plates, and XSYS Print Solutions, specialising in narrow web inks. Flint Group Pigments produces a range of pigment products and additives for use in inks and other colorant applications.
Headquartered in Luxembourg, Flint Group operates more than 140 facilities worldwide, and employs some 7000 people. Revenues in 2006 were €2.19bn (US$2.73bn), positioning the company as the number one or number two supplier in every major region it serves.
