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New Delhi, July 27 Digital printing solutions provider Texsoco Inc has announced a joint venture with Japanese firm Mimaki Engineering Co. The new company, Mimaki Kanphor India, will be the exclusive distributor for Mimaki’s textile and industrial printing business.

“The joint venture will focus on selling high-end products directly to the Indian market. Our aim will be to bring down the high cost of ink in digital printing,” Mr Vinod Krishnamurthy, CEO, Texsoco, told Business Line. Currently, it costs Rs 200 a metre in digital textile printing as opposed to Rs 20 a metre through traditional processes such as hand and screen printing.

“Earlier, we used to outsource the ink from other companies, but now Mimaki will be manufacturing the ink to cut down on the costs,” said Mr Krishnamurthy. “We will also be establishing demo centres in Delhi and Bangalore, before moving on to other cities,” he added.

Mimaki Japan, with an investment of $2.9 million, will hold a majority stake of 51 per cent in the venture, while the Indian promoter, Texsoco, will have the remaining 49 per cent.

“Mimaki plans to increase the turnover from textiles in the years to come. To achieve this, we decided to invest in Kanphor and make our India presence felt,” said Mr Mikio Noguchi, Vice-President, Mimaki.

Mr Krishnamurthy said that there was no plan to set up a manufacturing facility; an R&D centre in the near future was on the cards.

Texsoco has been providing digital printing solutions for various garment exporters since 1998. It has previously worked with big industry names such as DuPont. The company had also provided printing solutions for most teams in the recently held nationwide cricket tournament, Indian Premier League (IPL).

Mimaki, with a turnover of $240 million, is a major producer of digital textile printers with presence in over 70 countries. Currently, it has manufacturing facilities in Taiwan and Japan.

More Stories on : Alliances & Joint Ventures | Printing | Other States

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