Cambridge based printer manufacturer Domino Printing Sciences has purchased Graph-Tech AG, a Swiss inkjet press integrator.
At drupa last month Graph-Tec revealed that it had built the digital print engine components of Landa’s prototype Nanographic digital presses (these are based on modified Kyocera inkjet heads); the paper transports for the same presses were built by Komori.
It also showed MonoCube, a compact fast monochrome inkjet press that it said would be its first product from its new Cube division, intended to offer printers to the commercial market – previously it only offered integration services. MonoCube runs at up to 150 metres per minute and can handle print widths from 550 to 780 mm, with resolutions up to 1200 dpi. It is based on systems that Graph-Tec had originally developed for Nipson, which announced in January 2011 that it intended to break into the colour inkjet market. However Nipson’s main operation went into liquidation during April this year.
Domino originally became a shareholder in Graph-Tech in 1999 and, since that time, Graph-Tech has become an increasingly important partner to Domino. It now supplies Domino’s K-Series product range and the new N600i full colour digital label press as well as production line controllers and other digital printing equipment.
The latest purchase is for the remaining 80.65% of shares to increase Domino’s holding to 100%. The initial purchase price for Graph-Tech is CHF 18.63 million (approximately £12.4 million) with additional contingent consideration up to a maximum of CHF 10 million (£6.7 million). Payment will be satisfied from Domino’s cash resources. An amount of CHF 3.1 million (£2.1 million) has been withheld from the initial sum; payment of this is subject to the shareholders remaining employed in the business over a three year period.
Nigel Bond, group managing director of Domino Printing Sciences, said: ‘Graph-Tech has been a long term partner of Domino. We have built a profitable digital printing business based on Graph-Tech’s technology. The timing of our acquisition of the remaining shares in the business coincides with the successful introduction of our new digital label press products. We believe these products combined with planned new developments will provide us with significant opportunity to capitalise on the growth in use of digital printing technology, in both printing and packaging applications.’
Contact: www.domino-printing.com and www.graph-tech.ch
