Speaking to PrintWeek at yesterday's launch of Polestar's "Intelligent Colour" service, Hibbert said: "The whole industry is in discussion, both in the EU and the UK, but it's extremely difficult to put together any commercial proposition at the moment because the banks are shut.

"The conditions are very similar for gravure in the EU and offset in the UK and there are a number of potential mergers out there where there is the opportunity to bring assets together for mutual benefit."

Hibbert stressed that, although most companies would like to come together, they were "on their own" at the moment, due to the lack of available finance.

His comments echoed those of European print giant RSDB, which last week revealed that it would have to focus on the development of a business plan based on a "standalone situation for RSDB" despite its ongoing intention to play a leading role in the much-needed European consolidation.

Hibbert’s comments came as Polestar Direct launched its Intelligent Colour personalisation and digital printing service, which is backed by a £4m investment in Océ digital kit, including the UK’s first JetStream 2200 continuous colour machine.
 
Commenting on the investment, Hibbert said: "We’ve taken the view as a board that the desire for more intelligent customer communication will increase [as a result of the recession] and that is why we have made what is a recession-busting investment."
 
Océ UK managing director Bron Curley added: "I think Polestar has made absolutely the right choice to invest in this technology and they will be extremely well positioned to take advantage in the upturn."

For the full interview with Barry Hibbert, see this week's PrintWeek.