Merging both businesses into a single limited company, but retaining both brands, Plockmatic will build up Intec’s Poole HQ – soon to relocate into a larger site – as a hub for research and development alongside its current activities.
In legal terms, Intec will be folded into Morgana, with both companies retaining their full staff, and management remaining as before.
“We have been operating like this for at least the last year,” Mark Baker-Homes, vice-president of Plockmatic’s new packaging and labelling division, told Printweek.
“You can have two brands, but you don’t need two limited companies. This is more about removing financial burdens, as opposed to changing any structures.”
He added that the deal would likewise allow both Morgana and Intec to take advantage of their brands’ relative strengths in different geographies.
“There’s no point closing down the name, because the dealers have put a lot of effort into marketing and creating a following in some countries for these cutters,” he said.
Baker-Homes also pointed out that with a combined accounts department – it was merged with Morgana after Intec’s 2022 acquisition by Plockmatic – it made little sense to have to pay for two separate audits.
The combined company’s larger size will help with both its R&D budget and in securing finance for further expansion, with the company eyeing up potential growth in label, packaging and wide-format finishing markets.
“If you look at the market now, 8% of printed sheets end up in packaging and labelling, but [Smithers analysts] expect by 2032 it will be 24%,” Baker-Homes said.
“So while there’s only 2.4% growth [overall in the printed sheet market], the dynamic in the market is going to shift dramatically.”
Plockmatic’s desire to break into the packaging and labelling markets led it to acquire Intec, with Intec's merger with Morgana following as the next step in helping further boost the group’s presence in the packaging and labelling markets to take advantage of upcoming growth.
“It gives us more financial clout for Intec, which is becoming the new packaging and labelling division, and more access to funds within the Plockmatic group for development and to release new products,” Baker-Homes added.
Hinting at new machines to be released in Q1 2025, including a finishing machine for label makers, Baker-Homes also teased the release of devices for folding, gluing and taping boxes in Q2.
Baker-Homes added: “It’s exciting, but also a little bit daunting, because we’re talking about turning Intec and Morgana into an entire division in a multi-million pound company. There’s a lot of work to be done, and a lot of opportunity.”
