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Fuji Photo Film To Buy UK Ink Maker Sericol For GBP123 Million
TOKYO – Fuji Photo Film Co. 4901.TO) said Wednesday it will acquire U.K.-based ink maker Sericol Group Ltd. for GBP123 million in February in a bid to expand its printing business.
Sericol will become a wholly owned unit of Fuji Photo, which will change the unit’s name to Fujifilm Sericol Ltd., the Japanese maker of photographic films and cameras said in a statement.
A Fuji Photo spokesman said the transaction will be completed by the end of February. The company will buy Sericol from U.S. investment firm Saratoga Partners.
Sericol is one of the top makers in the world of ink for inkjet printers and screen printing, a technology used to press images onto various types of surfaces.
For calendar 2004, Sericol expects to post revenue of around Y30 billion and is operating profitably, Fuji Photo said. The U.K. firm employs about 1,200 workers and operates six plants.
With sales of photographic cameras and films declining in recent years, Fuji Photo has been expanding other operations such as digital technology-based products and services.
The company aims to boost its group revenue from the overall printing business to Y300 billion by the fiscal year ending March 2009 from the current Y240 billion.
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