Rotogravure joint venture Prinovis of the media companies arvato Bertelsmann, Gruner + Jahr and Axel Springer starts on May 10 2005
Hamburg, May 10 2005 - The new rotogravure amalgamation of the three partners arvato Bertelsmann AG, Gruner + Jahr AG & Co KG and Axel Springer AG starts on May 10 2005 under the name Prinovis. This was announced in Hamburg by the Prinovis chairman of the board of directors/chief executive Stephan Krauss, who has been a board member of arvato and chief executive of the Nuremberg-based maul-belser GmbH, on Monday. The company will trade under the name of a Limited & Co. KG and is located in Hamburg. The European Commission had approved the amalgamation of the rotogravure companies on May 3 2005.
During a meeting of executives Stephan Krauss introduced the new name and the company logo. Its image and letters are clearly related to the company's core business. According to Stephan Krauss, the name Prinovis comprises the names print, innovation and vision. These elements characterise the new company.
The image in the shape of an up-leading arrow consists of so-called cells which are typical of rotogravure printing. Cells are recessed areas engraved into the surface of a cylinder forme, which enable the transfer of the ink onto the paper.
Prinovis is a decentralised association of medium-sized companies with a total staff of 4.300. The company has 5 plants which are located in Ahrensburg, Darmstadt, Dresden, Itzehoe and Nuremberg. Another plant in Liverpool which is currently under construction, starting production in 2006 will also be integrated in Prinovis.
According to Stephan Krauss, the focus of Prinovis will be to secure and enhance its position on the competitive European illustration printing market in the long-term. Apart from the integration of the six individual plants we will continue to focus on our business relationship with our customers. The amalgamation of the companies will be a challenge both for the employees and the management.
The illustration printing market comprises the printing of calalogues, magazines and advertising brochures by rotogravure and rotary offset machines. Synergies will be made possible due to the cooperation of departments such as purchasing, administration, prduction and sales.
Prinovis is an amalgamation of the three media companies arvato Bertelsmann, Axel Springer and Gruner + Jahr. The new company will provide innovative illustration printing solutions as well as flexible services to his customers within Europe. Arvato Bertelsmann and Gruner + Jahr hold a stake of 37,45 per cent each whereas Axel Springer AG is involved with a share of 25,1 per cent.
(10.05.2005)
Press Contact:
Torsten Schubert
Prinovis Ltd. & Co. KG
Am Sandtorkai 68
20457 Hamburg
Fon: +49 40 36093 123
Fax: +49 40 36093 107
torsten.schubert@prinovis.com