Konica Minolta headquarters in Japan have just announced the acquisition of the production printing business of Monotech Systems Limited, a PP specialist based in Chennai (South East India) with 21 offices all over the country. Founded in 1999, Monotech has a staff of over 500 and a turnover of some 30m USD per annum.
This acquisition is part of Konica Minolta's expansion strategy to invest in such markets. It should allow Konica Minolta Business Solutions Private Ltd (Konica Minolta BIN) to increase its PP marketshare - currently 27% - but also to increase the size of the digital printing market in India, which is completely overshadowed by offset production.
Once the acquisition goes through on June 1, Konica Minolta BIN will double the number of employees it has working in production printing (from 200 to 400) and will quadruple the number of sales offices it has (from five to twenty).
Monotech Systems Limited will continue to sell the other products in its portfolio which include Canon wide-format printers and Scodix machines - and to develop its own production inkjet machines including the Jetsci WP600, a monochrome inkjet press it unveiled in February.