Hubergroup India scouting for funds – report

Management change in Hubergroup's parent group

hubergroup in Kirchheim near Munich

As Hubergroup, an international printing inks and chemicals specialist, reorganizes its top-level management in Germany, its Indian subsidiary Hubergroup India is actively negotiating with lenders for funds to consolidate its base.  

According  to a report in The Economic Times (ET), Hubergroup India is negotiating with ICICI Bank, HDFC Bank, Axis Bank, Tata Capital, Axis Finance, and ICICI Prudential Credit Fund, to secure Rs 1,500 crore in working capital, amortizing funds, and bullet loans, with expected interest rates ranging from 9-14%.

A significant portion of the funds is earmarked for acquiring businesses from its German parent, to establish Hubergroup India as the flagship entity for the entire group. In 2005, Hubergroup had acquired Micro Inks, solidifying its position as a market leader in the Indian print market with a 30% share, the report says.

At that time, compensatory growth in packaging ink was anticipated due to the rise in FMCG and eCommerce industries. This offset volume loss in the printing ink segment after consumers shifted toward digital sources for newspapers. 

The journey of Micro Inks began with Hindustan Inks and Resins in 1980, in a small plant in Vapi. After Micro Inks was acquired by Hubergroup in 2005, it continued to be known by its old name. On 29 May 2015, Micro Inks’ name was changed to Hubergroup India. 

Management reshuffle

Meanwhile, the previous CEO, Heiner Klokkers, has left the company while two long-standing top managers are moving up to the management of the holding company – MHM Holding GmbH. 

Taner Bicer, responsible for the group’s chemicals division, and Carsten Zölzer, head of the offset division, are joining the management board of MHM Holding GmbH. They will both remain managing directors of Hubergroup Deutschland GmbH and retain their current responsibilities. 

Together with Britta Hübner, responsible for the transformation of the group, they will form the management board of MHM Holding GmbH. 

“Heiner Klokkers has played a key role in shaping the company in recent years and initiated the reorganization of the group. Now it is time to take the next step, to strengthen the group’s financial power and to drive it forward operationally. Taner Bicer and Carsten Zölzer, two long-standing Hubergroup managers who have rendered outstanding services to the company over many years, are taking over,” Britta Hübner says.

In the context of the Group’s transformation, the management is focusing intensively on the forthcoming refinancing. To achieve this goal, extensive preparatory work has already been successfully carried out. The management looks to the future with confidence and continues to build on the successes achieved so far. 

In its two divisions, the company develops innovative, sustainable products and services to enable its customers to achieve first-class results. The print solutions division produces inks, varnishes and printing auxiliaries for packaging, commercial and newspaper printing. 

The chemicals division produces specialty chemicals such as resins, laminating adhesives, pigments and additives at its plants in India. 

Hubergroup employs around 3,300 people in almost 30 countries and generated annual sales of around 813 million Euros in 2022. 

In 2024, we are looking at full recovery and growth-led investment in Indian printing

Indian Printer and Publisher founded in 1979 is the oldest B2B trade publication in the multi-platform and multi-channel IPPGroup. It created the category of privately owned B2B print magazines in the country. And by its diversification in packaging, (Packaging South Asia), food processing and packaging (IndiFoodBev) and health and medical supply chain and packaging (HealthTekPak), and its community activities in training, research, and conferences (Ipp Services, Training and Research) the organization continues to create platforms that demonstrate the need for quality information, data, technology insights and events.

India is a large and tough terrain and while its book publishing and commercial printing industry have recovered and are increasingly embracing digital print, the Indian newspaper industry continues to recover its credibility and circulation. The signage industry is also recovering and new technologies and audiences such as digital 3D additive printing, digital textiles, and industrial printing are coming onto our pages. Diversification is a fact of life for our readers and like them, we will also have to adapt with agility to keep up with their business and technical information needs.

India is one of the fastest growing economies in nominal and real terms – in a region poised for the highest change in year to year expenditure in printing equipment and consumables. Our 2024 media kit is ready, and it is the right time to take stock – to emphasize your visibility and relevance to your customers and turn potential markets into conversations.

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