The firms global sales more than doubled between Ipex 1998 and 2002 to 202m (330m), it said, and it predicted that the figure would rise to 368m by 2004.

HUE said it would achieve this through expansion into more refurbished product lines, including web systems, finishing and digital.

Since its inception in 1998, sales have grown steadily year-on-year and, despite the downturn of 2001, HUE still increased its foothold in a market estimated to be worth 1.5bn in comparable products.

Speaking at Ipex, HUE UK managing director Jon Guy said: "I feel extremely bullish about the overall market. Of course we felt the downturn, but we hit it earlier than the new market and so were first to experience the upturn."

Guy added that Heidelberg planned to develop a finishing equipment quality standard similar to its Zero Impressions Since Manufacturers Overhaul (ZISMO) standard for presses, which includes a stamped date and impression count in millions.

Guy welcomed other used equipment companies refurbishing Heidelberg products, but maintained that as manufacturer, it could offer superior service, from parts and consumables to financing.

"The equipment we supply is as new, never 'as is'. Its all less than 10 years old and we can upgrade most post 95 Speedmasters to Autoplate or Alcolor Vario and even CPC to CP2000. As the manufacturer we alone can do this," said Guy.

Heidelberg also drew attention to the increasing trend for Heidelberg houses to combine new kit with used, both for budgetary advantages and the opportunity to invest earlier to corner the market.