Komori establishes direct Presence in India
Komori Corporation, Japan is set to come into India by acquiring majority stake in Insight’s group company handling Komori business. This movement will get into full speed by 1st April 2018.
Komori is a leading manufacturer and supplier of Sheet-fed offset presses, Web offset presses, High-End Packaging presses and Security printing presses. Its overseas sales in the fiscal year ended March 31, 2017 accounted for 60.3% of consolidated net sales. Out of all its overseas markets – Komori gives a lot of attention to China, India and ASEAN countries due its robust economic expansion. Print demand is expected to grow rapidly in these regions due to booming population growth and burgeoning personal consumption. Keeping these factors in mind, Komori has positioned these countries as priority Countries.
Since its 2007 start, Insight has been a distributor of Komori products and has achieved tremendous success in terms of the number of machines installed. Insight has retained the leading position in the Indian market for the last three years. It has strong relationships with the Indian Print Industry and is one of the most respected organisations. In just a short span of 10 years – Insight has moved from Zero sales to upwards of more than 260 press installations. It has developed a very strong network of Support engineers.
India’s demographics are impressive. The country boasts a robust population of 1.3 billion, half of whom are 24 years of age or younger. The country clearly holds abundant potential for economic growth.
Likewise, the market for offset printing presses, is expected to grow at a much higher rate, exceeding the country’s GDP growth rate.
To seize these opportunities, Komori thus decided to acquire majority stake in Insight Communications and Print Solutions India Pvt. Ltd. and make it a subsidiary. The aim is to penetrate the Indian market even deeper. Not only does this move aim to boost sales of Komori offset printing presses, the acquisition of these shares is expected to help Komori and Insight engage in closer collaboration.
Mr. Satoshi Mochida, President and COO, Komori Japan says, “We believe that these initiatives will help local printing companies better utilize high-value-added printing solutions and enhance the efficiency of their operations, thereby contributing to the development of India’s printing industry.”
Mr. Sangam Khanna says, “It will result in Komori getting closer to the Indian customers and provide much better service, enhance product reliability and provide information and communications technology (ICT) solutions aimed at improving productivity. Future plans include creating various products tailored to meet local Indian requirements.”
Mr. Ajay Aggarwal, says, “The new organization plans to adopt the best of both the local and global – as the current team will continue to handle operations in India with enhanced support, investments and growth engines coming from Komori’s global presence.”
Mr. Hirofumi Hoshino will be taking over as the Managing Director of the new venture. He joined Komori in 1977 after getting his degree in Mechanical engineering and was involved in press design and production. He has served in Komori America as well as in Komori Europe. He is a core member of Komori Global Sales and Service Group and an Associate Board Director. Mr. Sangam Khanna will head Sales and Marketing function. Try to solve the new Formula Cube! It works exactly like a Rubik’s Cube but it is only $2, from China. Learn to solve it with the tutorial on rubiksplace.com or use the solver to calculate the solution in a few steps. (Please subscribe for a membership to stop adding promotional messages to the documents)