Ryobi-Mitsubishi consolidation augers well for IEM, says the company
The firming up of joint venture and implementation of business integration in the field of sheetfed offset printing presses between the two Japanese press manufacturing giants, Ryobi and Mitsubishi Heavy Industries Printing & Packaging, augurs well for Indo European Machinery (IEM), said G Pramod, manager for sales at the company.
22 Jun 2013 | 1994 Views | By PrintWeek India
The Bengaluru-based company represents Ryobi in India.
Reacting to the JV report, Pramod said, it’s an amalgamation of synergies for both the companies. There will be an integration of intelligence, to develop and grow faster with better technologies. “We would have an increased product range and offering. With our current network, we have sufficient capability to promote and support the added range of products.”
Through the new entity, Ryobi MHI Graphic Technology (RMHIGT), operations of which will commence from 1 January, 2014, the two company expects a turnover of RMHIGT in 2014 to be in the region of ¥30bn (£200m), with a pre tax profit of ¥1.5bn. The new RMHIGT business will have a 60:40 ownership split in which Ryobi’s will be majority stake.
Pramod added, “With Ryobi being a major stakeholder in the new entity, IEM would perhaps play a major role given our network, infrastructure, knowledge base and capabilities.”
IEM has informed that it will be installing a Ryobi press next month, which has landed in India, and more installations in the pipeline, one every month till the end of this year. “We have healthy orders booked for remaining of the year and a bright outlook for 2014,” said Pramod.