Toyo Ink International Corp., a member of the Toyo Ink Group, has announced the formation of a new subsidiary, Toyo Ink Technologies, LLC, for the acquisition of specified assets of Fluid Ink Technology Inc. of Moorpark, CA, USA. Toyo Ink Technologies will assume ownership of all of Fluid Ink Technology's intellectual property formulas, brands, certain equipment, and employment of certain sales and technical teams.
Fluid Ink Technology will continue to exist under a new name and provide products and support for Toyo Ink Technologies from its two locations in Moorpark and Plainfield, NJ, USA. The company says Fluid Ink Technology customers should see no changes in how day-to-day business is conducted. Sales, distribution, brands and support service will be maintained, as is.
With the acquisition, the Toyo Ink Group will also strengthen its position in the US packaging inks sector, a move in line with the Group's global expansion plans, both regionally and globally.
“Fluid Ink Technology has a longstanding reputation for product reliability and unparalleled customer support. The addition of its name, technology and sales and technical teams instantly boosts Toyo Ink’s presence in North America,” says Mamoru Sasajima, Toyo Ink International’s president, “Toyo Ink also remains dedicated to local production. The new venture enhances our ability to better meet local demand for a sustained competitive advantage.”
“The combination of the Toyo Ink Group and Fluid Ink Technology brings significant new synergies to the table,” adds Jim Newkirk, president of Fluid Ink Technology. “The strength of our combined product, service and technology portfolio will create tremendous growth opportunities and customer value for years to come. It’s a win-win situation for all involved.”