On October 4, the ARMOR Group announces the acquisition of IIMAK (International Imaging Materials, Inc.). The combined Thermal Transfer activity will be called ARMOR-IIMAK with consolidated revenues of more than $400 million, firmly establishing it as the global market leader in the design and production of thermal transfer ribbons for the printing of variable traceability data on labels and flexible packaging.
Hubert de Boisredon, Chairman and CEO of the ARMOR Group: "Convinced of its strategic importance, I have actively pursued this merger. Our main objective will be to unify our strengths in order to benefit our customers, partners, and employees."
With a history for both companies dating back to the 1980s through a shared license from the Japanese company Fujicopian until 1998, ARMOR has enjoyed strong growth in Europe, with IIMAK similarly benefiting in the US. ARMOR-IIMAK now has 1,650 employees producing over 2.5bn m² of thermal transfer ribbon. Christian Lefort, who only recently joined the ARMOR Group, will be leading the entity.
"The paths of our two companies, both historic market leaders in thermal transfer technology, cross once again and will now be irrevocably united. This merger will benefit all our customers and external partners, as well as our employees," says Christian Lefort, CEO of ARMOR-IIMAK
Doug Wagner, CEO of IIMAK, has been appointed President of ARMOR-IIMAK Americas. He will play a key role in the integration process and in the realization of the synergies within the new entity, especially in the Americas.
It should also be stressed that the two complementary companies are joining forces with multiple objectives, including:
· Strengthening their presence in North and South America
· Offering customers the most comprehensive product portfolio on the market
· Leveraging joint technological development to enhance existing products and rapidly develop new ones
· Reducing their carbon footprint through optimized logistics
Through this merger, the new entity will enjoy global industrial coverage via three coating sites, one in each of its regions (Americas, Asia, and Europe), and nearly twenty slitting sites.
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