January 6, 2014

DIC Acquires Control of Leading Colombian Ink Supplier to South America’s Andean Region through its subsidiary

Reinforcing operations in response to sharp growth in the Andean region market

Sun Chemical Group Coöperatief UA, a wholly owned subsidiary of DIC Corporation, and Colombian coatings and chemicals firm Inversiones Mundial S.A. (IMSA) today agreed that effective January 3, 2014, joint venture Tintas S.A., an ink manufacturer that enjoys a leading market share in the Andean region, would become a wholly owned subsidiary of Sun Chemical. 

In 1999, Sun Chemical acquired Coates Lorilleux S.A., as a result of which it took over the operation of Tintas, in which Coates Lorilleux had a 50% equity stake. Thanks to the subsequent introduction of technologies from Sun Chemical, Tintas has seen steady growth in its inks business in the years since. Today, Tintas boasts a significant share of key regional markets, notably that for liquid inks for packaging applications, and is one of the foremost companies in the Andean region, which encompasses Colombia, Ecuador, Peru and Venezuela. In the wake of a change in management, IMSA recently resolved to divest its inks business, a noncore component of its portfolio. Sun Chemical, on the other hand, is seeking to fortify its liquid inks for packaging business in the Andean region. Accordingly, the companies agreed that making Tintas a wholly owned subsidiary of Sun Chemical was the best choice to ensure growth for both companies going forward. 

Recent years have seen a gradual tapering of demand for inks for publishing, primarily in developed countries, owing to such factors as falling birthrates and the shift toward digital media. In contrast, demand for liquid inks for packaging applications—notably for beverage and food products—remains firm. Demand growth is particularly promising in emerging economies, including those in South America, which are experiencing rapid economic growth. Transforming Tintas into a wholly owned subsidiary will position the DIC Group well to promote forward-looking investments in this promising region, enabling it to enhance the quality of the products and services it supplies. The Group will work to cultivate new demand and to bolster sales with the aim of further expanding its regional liquid inks for packaging applications business. 

Looking ahead, the DIC Group has outlined a plan of action under which it will continue taking decisive steps to reinforce its operating configurations in promising emerging economies.

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