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DIC Corporation has announced that the wholly owned Singapore-based subsidiary DIC Asia Pacific Pte Ltd has reached an agreement with Pacific Inks Limited of New Zealand for the DIC Group to take over all of Pacific Inks’ businesses.
In addition to its mother plant in Auckland, New Zealand, Pacific Inks has plants in Oceania (Sydney, Melbourne and Adelaide, Australia), Asia (Singapore, Malaysia and China) and the UK.
With a product line-up centred on packaging inks for cardboard, Pacific Inks has a good reputation for its environment-friendly water-based flexo inks.
Demand for packaging inks remains firm in developed countries, reflecting rising living standards and the prevalence of individual packaging for many items and in the Asia Pacific region is expected to grow by about 10%/yr for the foreseeable future.
This acquisition will enable DIC to add water-based flexo inks to its portfolio and strengthen its operations, particularly in the Asia Pacific region where environmental awareness is increasing rapidly. DIC forecasts this acquisition will add ¥2.5bn to annual net sales by fiscal 2015.