Bobst Group SA said it has signed a memorandum of understanding to acquire a 30 pct stake in the Brazilian company Flexo Tech Industrial Ltda. It expects that the due diligence process will be completed by the end of the second quarter of 2005, saying the relevant regulatory approval process will be initiated "immediately".

Flexo Tech produces flexographic printing presses and laminating equipment for the flexible packaging industry. The company's net sales reached 7 mln usd in 2004 and employs approximately 60 people.