Monday, March 4, 2024

Bobst increases stake in CITO after changes in management

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Bobst increases stake in CITO
L to R: Rene Seick, Oliver Kellermann and Thomas Gerner

Long-term CITO leadership team members Oliver Kellermann and Thomas Gerner will act as joint managing directors. The company will continue to operate independently.

Bobst’s stake in CITO Group – one of the world’s market leaders in the field of creasing technology – has increased to 90%. This follows the retirement of CITO managing director Jurgen Marien, who has sold his remaining shares to Bobst. Bobst first acquired a majority shareholding of 51% in CITO Group in 2020.

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CITO is well known for providing an extensive range of components for the converting and die-making industries with expertise in paper, cardboard, and corrugated board. CITO’s unique offering of consumables and services are now fully part of the Bobst portfolio.

CITO will continue to run independently, led by members of its existing leadership team. Long-term director of sales and R&D Oliver Kellermann has been appointed co-managing director alongside existing co-managing director Thomas Gerner. They will continue to manage and oversee the day-to-day running of the company alongside Rene Seick, director of technology.

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“This evolution will be completely seamless, with no disruption to the way CITO is run or to the provision of its very high standard of quality, consistency and services,” said Alex Volery, tooling division director at Bobst. “For Bobst, CITO and our customers, this strengthened collaboration is very exciting, with two of the leading suppliers in the packaging and tooling industries working hand in hand. This allows even more co-development of innovative products, deeper connections between our two R&D departments, and ultimately even more value delivered for our customers. I am very excited to see what else we can achieve together.”

The editorial team of The Packman who handle all the press releases with Sunil Jain working as the desk editor.

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