However, the monetary value of the deal and what the new subsidiary will be called were not disclosed yet.

According to reports, the new venture should be operational by 1 April 2018.

Sangam Khanna of Insight, said, “Komori wanted to get close to the Indian customers and provide better services, enhanced product reliability and provide information and communications technology (ICT) solutions aimed at improving productivity. Future plans include creating various products tailored to meet local requirements.”

Hirofumi Hoshino will be the managing director of the new venture. Hoshino, a mechanical engineer has joined Komori in 1977 and was involved in press design and production. He has served in Komori America and Europe. He is a core member of Komori Global Sales and Service Group and associate board director.

Sangam Khanna will head the marketing and sales duties of the new venture.

Insight has been the Indian distributor of Komori printing presses from 2007 and has installed around 300 presses in the last 11 years, retaining a leading position in the sheetfed offset printing presses market in India.

Ajay Aggarwal of Insight said, “The new organisation plans to adopt the best of both local and global, as the current team, comprising of 70 people, will handle the operations in India with enhanced support, investments and growth engines coming from Komori’s global presence.”

The aim of the Indian subsidiary will to penetrate the Indian market even deeper. “Not only does this move aim to boost sales of Komori presses, the acquisition is expected to help Komori and Insight engage in closer collaboration,” Aggarwal added.

Satoshi Mochida, president and COO, Komori Japan, said, “We believe that these initiatives will help local printing companies better utilise high value-added printing solutions and enhance the efficiency of their operations, thereby contributing to the development of India’s printing industry.”