The proposed sale is still subject to technotrans obtaining financing, as well as approval of both boards, but the firms are confident that merging their complementary services would be in the best interest of our stockholders and customers needs. However, neither firm would comment on the overall value of the deal.

Baldwin specialises in automated blanket cleaning technology with a strong regional presence in Japan, while technotrans focuses on liquid technology such as ink supply systems, with long-term client relationships with Heidelberg, MAN Roland and KBA.

Baldwins presence in the Asian market was a key factor in the deal, with technotrans identifying its near-term potential as a significant benefit for the firm.

The letter of intent was made public ahead of a definitive agreement in order to avoid industry rumours during the merger proceedings. Due diligence and acquisition documentation is still in process but a binding merger agreement is expected in January.

Story by Rachel Barnes