Dear Friends and Partners of CITO,
This morning, our new shareholder Bobst Group SA, has published the joint venture of BOBST with CITO. The contract negotiations were completed positively on 08. April 2020. The Swiss company now has a 51 % holding in CITO‑SYSTEM GmbH. The most important information for you is that CITO continues to be a separate and independent company. We will continue to sell our products worldwide under the CITO brand in the future. Our team also remains unchanged. I will continue to undertake the task of CEO of our group of companies and Thomas Gerner will soon be named CFO of CITO to assist me. In future, the extended management will continue to include Oliver Kellermann as “Director of Sales and R&D” and René Seick as “Director of Technology”. The management retains a 49 % share in the company.
The common goal of the joint venture partners is to further develop the tooling and consumables area. We consider it to be our joint task to drive ahead technological progress in this field. Working in close cooperation, we want to create standards, which contribute to increase productivity and efficiency in the whole of our industry. Both companies are world market leaders in their own area and together we want to help our customers to become even more successful. Especially in times of large economic challenges, you can therefore build on a strong alliance. The products of our industry are systemically relevant and contribute to the supply of our population. Both BOBST and CITO are worldwide operating companies. Wherever you are, you can rely on this strong alliance.
We have already begun to launch joint R&D projects. Because we feel committed to the idea of making a decisive contribution to shaping the future of our whole industry. The worldwide CITO sales network will be retained; our customers all over the world can thus continue to build upon their local partners in the future. For decades, the name CITO has stood for a loyal and reliable partner. In the new constellation we will continue to convince with extraordinary service, top quality and technological leadership. Together with our partner BOBST we will expand our product range, in order to even meet our standard of system provider. We look forward to future cooperation with our BOBST colleagues and are convinced that together we are an even better “partner for success”.
Schwaig/Germany, 09. April 2020