Struggling Japanese press manufacturer, Shinohara, has been acquired by Chinese offset company, Hans-Gronhi Graphic Technology Co., after the Japanese company filed for creditor protection in its home country last year.
The acquisition sees Shinohara’s business and assets come under the control of Hans-Gronhi and the Japanese company’s manufacturing operations will shift from Japan to China. The move follows six months of talks between the two companies.
In January last year, the beleaguered Shinohara filed for creditor protection under Japan’s Civil Rehabilitation Act, allowing it to continue trading despite its ongoing financial woes.
Until now, the Japanese company had not been booked to appear at this year’s drupa trade fair in Germany, however with Hans-Gronhi’s backing, presses with the Shinohara brand are now scheduled to appear in Düsseldorf in May.
Graham Moorby, the joint managing director for Printers Superstore, whose company distributes Hans Gronhi, and now Shinohara products in the UK, says that the acquisition is a positive step for both companies.
“This is a logical step which enhances the product range on offer and opens up exciting new opportunities for us developing an established product with a longstanding user base,” says Moorby. “Having achieved so much in the arena of B3 presses we are most excited about the expertise Shinohara bring in the B2 and B1 arena.”
In recent years, much of Shinohara’s sales volume has been in the China market, and Hans-Gronhi has chosen to retain some of the Japanese company’s brand equity in the country by retaining the Shinohara branding for the larger format and more sophisticated presses, including its successful B3 press.
Hans-Gronhi (HQ pictured), based in China’s northeast Liaoning province, names itself as the leading manufacturer in the Chinese offset printing industry, It currently exports to Europe, North America, South America, South Africa, and South East Asia.