Sanoma Learning & Literature and Gummerus Oy have agreed on an arrangement concerning the merger of WS Bookwell and Gummerus Printing. As a result of the arrangement, Gummerus Oy will become a shareholder in the new Bookwell Oy with a 20% holding.
The principal reason for the deal is to reinforce the position of WS Bookwell Oy, part of Sanoma Learning & Literature division, as the leading Book printing house in the Nordic countries, simultaneously rationalizing the industry. The arrangement ensures extensive production capacity availability in Finland even in the future.
Globalisation of the printing sector has created the need for a strong regional player focused on serving Nordic publishers. The merger will address this need.
"Our aim is to be the preferred regional partner for our customers. We offer reliability, service and ethical sustainability for the whole operating process," says Magnus Breitenstein, Managing Director of WS Bookwell. "Gummerus Printing possesses extensive customer knowledge, which will bring us even closer to our clients in Finland," he continues.
"Consolidating printing operations with WS Bookwell Oy will allow Gummerus to better focus on its core business, i.e., publishing. Gummerus Publishers is the oldest general publishing house in continuous operation in Finland. We aim to develop our publishing programme and competitiveness further in the challenging market," says Ilkka Kylmälä, Managing Director of Gummerus Oy.
The Sanoma Group believes that the restructuring of the printing sector is only just underway. "With this merger the new Bookwell is in an excellent position to act as a catalyst for this development and to become one of the major players in the industry," says Jacques Eijkens, CEO of Sanoma Learning & Literature.
For additional information, please contact:
WS Bookwell, Magnus Breitenstein, Managing Director, tel. +358 40 558 1036, email@example.com
Gummerus Oy, Ilkka Kylmälä, Managing Director, tel. +358 40 527 3258, firstname.lastname@example.org
WS Bookwell Oy produces and markets quality book-printing services in Scandinavia, Great Britain, Germany, the Netherlands, Russia and the Baltic states. In 2008, more than 20 million books were printed in the company's production units, located in Porvoo and Juva. Company turnover amounted to 32,4 million euros, and an average of 293 people worked for the company. WS Bookwell is part of Sanoma Learning and Literature, which is part of the Sanoma Group, a strong European media group operating in diverse fields of media in 20 countries.
Gummerus is a Finnish media group, founded in 1872, with business operations in publishing, printing, digital publishing and real estate. Group turnover amounted to 26,9 million euro in 2008, and the group employed 170 people on average. Gummerus continues to operate as a family business where its owners and employees respect the original vision of its founder Kaarle Jaakko Gummerus: for pleasure and benefit.