Schmidt was formerly the companys chief operating officer a position that will not be filled and is a member of the fourth generation of the Schmidt family that founded an inks company in Germany in 1878.

Schmidt and Mahony have worked together for the past two years following the merger of Gebrder Schmidt and Flint Ink at Ipex 2002.

Schmidt said: Sustained profitable growth of all company divisions will be the essential part of my leadership role.

Schmidt sits on various industry organisations including the VdD (the German printing inks association) and CEPE (the European Council of the Paint, Printing Ink and Artists Colours Industry).

Mahoney was previously the president of Flint Ink Europe, prior to the merger of the companies.

Flint Ink (UK) reported a pre-tax loss of 6.8m on a turnover of 35.8m for the year to December 2002.