Koenig & Bauer, a global leader in making printing presses, is intensifying its presence in Vietnam as part of its business expansion initiatives.
“Koenig & Bauer’s objectives are to tap into the Vietnamese market, which is enjoying a post-pandemic boom, and to establish a strong foundation for future market activities,” the German company said in a Friday announcement.
Over the past two years, considerable progress has been achieved, primarily through the group’s Chinese subsidiary, in the provision of modern machinery and technologies, alongside professional services, to support printing and packaging companies in Vietnam, the global market leader said.
The German manufacturer has recently opened an office in Vietnam’s Hanoi so that it can provide more services in the coming time.
“It is hoped that a local representation will lend new impetus to the Vietnamese print industry by ensuring direct access to a first-class portfolio of products and services,” the firm said.
A printing press is a machine that applies pressure to an inked surface resting upon a print medium, thereby transferring the ink. A majority of the banknotes used in the world are printed on printing presses made by Koenig & Bauer Banknote Solutions SA in Lausanne, Switzerland, which is a division of Koenig & Bauer.
Koenig & Bauer organized product and technology roadshows in Hanoi and the southern province of Binh Duong in November and December, respectively, to present its future-oriented technologies and state-of-the-art printers. The events were attended by representatives of almost 100 printing companies in Vietnam, the German firm said.
Prior to that, it joined the Print & Pack 2022 trade fair in Ho Chi Minh City last September.
In terms of competition in Vietnam, Koenig & Bauer said there are around 2,000 printing and packaging businesses in the market, including international companies that have chosen to invest in the country.