EFI acquires digital textile printer producer Reggiani
Electronics For Imaging, Inc. (EFI) has acquired Italy based producer of industrial inkjet printers utilising water based inks in printing on fabrics, Reggiani Macchine.
“Industrial inkjet printers utilising water based inks in printing on fabrics were recently identified as the industry's most exciting growth application by a global survey from FESPA,” an EFI press release said.
EFI is already a manufacturer of industrial UV-inkjet printers and ink, and now will also be a technology provider in the digital inkjet textile space.
Reggiani's inkjet technologies, which will be rebranded as EFI Reggiani, address the full scope of textile printing, with versatile printers suitable for water-based dispersed, acid, pigment and reactive dye printing inks.
“In its 60 plus year history, Reggiani has become a leading innovator of a full range of industrial solutions for textile manufacturing, including high-quality printers for fashion and home furnishing textiles,” EFI added.
Reggiani has a comprehensive portfolio spanning the company's original rotary screen technologies to the most advanced inkjet textile printers and inks in the industry.
Reggiani has also established relationships with many of the leading textile manufacturing companies around the world and provides an integrated offering including equipment for all stages of textile printing process.
EFI CEO Guy Gecht said, "This acquisition gives EFI an immediate leadership position in one of the world's largest industries undergoing the transformation from analog printing to digital.”
“The textile printing market is just beginning that transition, which will enable producers to shift from long-run to on-demand manufacturing, responding to demands of short runs and customisations," he too added.
"This acquisition will also enable EFI's customers to expand into soft signage-based display graphics using Reggiani's water-based industrial inkjet printers," Gecht noted.
"Reggiani's customers recognise that inkjet is the most important technology of the future for the textile industry," said Ambrogio Caccia Dominioni, who will be managing director of EFI Reggiani.
"EFI is a leader in print industry workflow solutions and has a much larger sales and marketing platform around the world,” Dominioni observed.
"Together, EFI Reggiani can further extend its position as a global leader in digital inkjet textile printing technology with leading-edge products that accelerate the analog-to-digital transformation,” he too added.
Reggiani has customers in more than 120 countries served by a wide distribution network and agents in over 40 countries.
EFI will repay Reggiani debt of about €20.1 million, pay Reggiani shareholders up to about €27.4 million and issue Reggiani shareholders up to about €27.4 million of EFI shares.
EFI will also pay up to €50 million over the next 30 months based on the achievement of revenue and profitability targets by the EFI Reggiani business. (AR)
Fibre2Fashion News Desk - India