Global Imaging Innovation expert Seiko Epson Corporation (SEC) through subsidiary company Epson Italia S.p.A., had acquired 50 percent stake in textile printing leader For.Tex S.R.L. of Como,Italy in 2012. By getting hold of the remaining stakes, the company has completed For.Texâ€™s buyout. The acquisition strengthens efforts to establish itself in the digital textile printing market.
Located in the heart of the Italian and European textile industry, For.Tex specializes in sales of textile printing inks, manufacturing and sales of essential treatment agents used in textile printing processes and digital textile printing chemical consulting.
The Italian company has worked closely with Epson since 2003, when Epson entered the market by jointly developing the Mona Lisa digital textile printer with Robustelli of Italy.
By working closely together and leveraging their strengths, the two companies plan to help customers improve the quality of their products and the efficiency of their work processes.
According to Epson, the digital textile printing market is expected to grow at an annual rate of about 25 percent going forward. The acquisition of For.Tex gives Epson know-how across the entire textile printing process, from strategy and design through manufacturing and sales. This know-how, along with unified management, will enable Epson to further accelerate growth of the textile printing business.
Sunao Murata, chief operating officer, Epson's Professional Printing Operations Division, said that For.Tex has made an outstanding contribution over the past few years to Epson's efforts to replace analog textile printing with digital. By combining Epson's digital inkjet textile technology with the technical and marketing expertise of For.Tex, they have been able to generate genuine value for the growing number of customers who are convinced that digital is the way forward. Now is the time to take the next step. Epson Group is delighted to welcome For.Tex who will now further strengthen their ties as they seek to drive change in the textile printing market and become an indispensable business partner to their customers.
For.Tex has become a full member of the Epson Group, said Pietro Roncoroni, president, For.Tex. They have developed a number of synergies with Epson over the years they have worked with them, and with both companies sharing the same goals, today's announcement is a natural progression from the work they have done with them to date. They are looking forward to working even closer with Epson to drive further innovations in digital inkjet textile printing and to better serve their customers both in Italy and around the world.
Epson is committed to strengthening its presence in textile printing and aims to provide products and services that surprise and delight customers in this market. It sees commercial and industrial printing, including textile printing, as promising growth areas where the company can take advantage of its MicroPiezo inkjet technology.
Both Epson and For.Tex are leaders in their respective fields, and this tie-up provides a superb opportunity to expand the market for digital textile printing.
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