Kongsberg Precision Cutting Systems acquires MultiCam

Acquisition reinforces the company’s position in the market

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Kongsberg Precision Cutting Systems acquires MultiCam
Kongsberg Precision Cutting Systems acquires MultiCam

Kongsberg Precision Cutting Systems (Kongsberg PCS) is delighted to announce the acquisition of MultiCam, a U.S. manufacturer and distributor of Computer Numerical Control (CNC) cutting machines and digital finishing processes.

The acquisition of MultiCam, including its operations in the U.S. and sales offices in Canada and Germany, expands Kongsberg PCS’ market reach and customer base across North America and Europe and creates the world’s first diversified provider of digital finishing and CNC cutting machines.

Kongsberg on being an expert in the digital finishing industry

Stuart Fox, president of the company, said, “This is a monumental day for Kongsberg and MultiCam. Our businesses coming together to drive best-in-class cutting and finishing processes will deliver a tremendous advantage for our global customer base. Following the completion of the deal, I am now excited to begin integrating our businesses and exploring new markets.”

Stuart Fox, president of Kongsberg PCS
Stuart Fox, president of Kongsberg PCS

News of the acquisition comes just five months after Kongsberg PCS was established as a stand-alone business after being acquired by OpenGate Capital. OpenGate Capital’s partner, Julien Lagrèze, said, “We recognized the importance of digitization for this business and developed an investment thesis that includes the growth of the company through innovation and add-on investments. With this strategic combination, the company gains greater scale and expands its reach to a broader, global customer base with new products and services.”

Stuart Fox added: “Since 1965, the Kongsberg name has been synonymous with innovation. Our systems have led the industry in delivering precision, reliability, and quality through seven decades. With the investment of our owners, we have a roadmap that will undoubtedly take this robust company to a new level. MultiCam shares this ambition, and just like Kongsberg, the business has a loyal and valued team that has been with the company for many years and helped build and shape it into what it is today.

“At Kongsberg PCS, we are excited to develop and expand the product portfolio and to create new opportunities to grow our tooling and consumables offering. In addition to strengthening our hardware offering, we are also planning routes into new markets in areas we know are currently not catered for and will benefit from our market-leading solutions. MultiCam has extraordinary market reach with its range of CNC routers, laser, plasma, waterjet, and knife cutting machines, and we are thrilled to now welcome MultiCam to the Kongsberg family.”

Founded in 1989, MultiCam supplies innovative CNC cutting solutions for many industries and applications ranging from sign making to digital finishing, aerospace to automotive, sheet-metal to plate-steel processing, hardwoods to cabinet making, thermoform trimming to plastics fabrication.

Commenting on the acquisition, MultiCam CEO David J Morse added: “At MultiCam, we have worked for over 30 years to diligently build a world-class organization in the focused cutting arenas of routing, fabrication, and digital finishing. The MultiCam brand is synonymous with quality, durability, and ease of use. We are very pleased to join forces with Kongsberg, who has built an outstanding global brand and culture that align directly with what we have built at MultiCam.

David Morse, CEO of MultiCam
David Morse, CEO of MultiCam

“It has always been my goal to provide the necessary scale to MultiCam to truly become one of the top global cutting companies in all three categories of CNC cutting. Combining Kongsberg’s 50 years of outstanding history in the digital finishing and over 12,000 machines installed, together with MultiCam’s 14,000-plus installed machines, strengthens our position in the global market. I look forward to working side by side with the great leadership team at Kongsberg to build a world-class global cutting solution provider. Together we are stronger.”

The company will continue to operate under the MultiCam name within Kongsberg Precision Cutting Systems, with David J Morse joining the Kongsberg PCS senior management team and continuing to lead the MultiCam business.

 

2023 promises an interesting ride for print in India

Indian Printer and Publisher founded in 1979 is the oldest B2B trade publication in the multi-platform and multi-channel IPPGroup. While the print and packaging industries have been resilient in the past 33 months since the pandemic lockdown of 25 March 2020, the commercial printing and newspaper industries have yet to recover their pre-Covid trajectory.

The fragmented commercial printing industry faces substantial challenges as does the newspaper industry. While digital short-run printing and the signage industry seem to be recovering a bit faster, ultimately their growth will also be moderated by the progress of the overall economy. On the other hand book printing exports are doing well but they too face several supply-chain and logistics challenges.

The price of publication papers including newsprint has been high in the past year while availability is diminished by several mills shutting down their publication paper and newsprint machines in the past four years. Indian paper mills are also exporting many types of paper and have raised prices for Indian printers. To some extent, this has helped in the recovery of the digital printing industry with its on-demand short-run and low-wastage paradigm.

Ultimately digital print and other digital channels will help print grow in a country where we are still far behind in our paper and print consumption and where digital is a leapfrog technology that will only increase the demand for print in the foreseeable future. For instance, there is no alternative to a rise in textbook consumption but this segment will only reach normality in the next financial year beginning on 1 April 2023.

Thus while the new normal is a moving target and many commercial printers look to diversification, we believe that our target audiences may shift and change. Like them, we will also have to adapt with agility to keep up with their business and technical information needs.

Our 2023 media kit is ready, and it is the right time to take stock and reconnect with your potential markets and customers. Print is the glue for the growth of liberal education, new industry, and an emerging economy. We seek your participation in what promises to be an interesting ride.

– Naresh Khanna

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