Notice regarding the acquisition of operations (manufacturing and sales of pre- and post-processing equipment for digital textile printing) from Rimslow Global Pty. Ltd. of Australia
Nagano, Japan (December 1, 2017)
MIMAKI ENGINEERING CO., LTD. would like to announce that we will be acquiring operations relating to the manufacturing and sales of pre- and post-processing equipment for digital textile printing from Rimslow Global Pty. Ltd. (“Rimslow”) of Australia. The details are as follows.
1. Reasons behind the acquisition
With regard to our continued growth going forward, our group recognizes that it is essential that we accelerate the growth of digital printing in the textile/apparel (“TA”) market. For this reason, as we rebuild our sales and service structures for the TA market, we believe that we must work to obtain know-how relating to all aspects of digital printing in the TA market.
Our group has already assembled a full lineup of products that meet the needs of producing areas and consumer territories alike for digital printers, but there is no native know-how on pre- and postprocessing processes such as coating, steaming and water washing. With this acquisition, we will obtain new know-how relating to digital printing pre- and post-processing equipment (including coating machines, steamers, and washers) for the TA market. In doing so, we will be able to carve out a position as the rare digital printer manufacturer with the ability to provide comprehensive solutions for the TA market.
Rimslow, the company that is transferring these operations to us, is well known in the textile printing industry as a pioneer of digital printing pre- and post-processing equipment, and its products are widely distributed along with company name (trademark). This acquisition comes after Rimslow made overtures regarding the possibility of our takeover of their operations. We have agreed, and we will be acquiring assets including Rimslow’s product designs and trademarks(We will not inherit maintenance service of existing customer ). Furthermore, we will be signing a special consultant contract with Rimslow’s representatives, which will allow us to receive guidance regarding the development and manufacturing of Rimslow’s products, and to build a production system for them within our group. In the medium term, we can presume that we will extend the reach of Rimslow’s products around the world through our group’s sales channels.
2. Acquisition source overview
|Company name||Rimslow Global Pty. Ltd.|
|Address||50 Commercial Drive, Lynbrook, Victoria 3975, Australia|
|Business description||Development, manufacturing, sales of pre- and postprocessing equipment (coating machines, steamers, washers, etc.) for digital textile printing|
|Relationship between listed company and said company||No releavant capital, business, or personal relationship.|
3. Upcoming schedule
Date of contract conclusion November 30, 2017
4. Future outlook
This acquisition’s impact on our consolidated performance figures for this period will be negligible.