Quad takes stake in largest print services group in India
Mar 30, 2012 (Milwaukee Journal Sentinel - McClatchy-Tribune Information Services via COMTEX) --
Quad/Graphics Inc. expanded its global reach by taking a stake in India's largest print services group, Quad announced Friday.
The alliance with Manipal Technologies Ltd. opens new inroads for Sussex-based Quad in the world's second most populous nation and broadens its product and service scope.
"This investment expands our global presence, giving us a strong foothold in another emerging market with a large and growing middle class that is attractive to marketers and publishers," said Joel Quadracci, chief executive of Quad. "This partnership supports a key component of our growth strategy, which is to invest in geographies and segments where we can be a market leader through a diverse product offering, and a superior and efficient operating platform."
Quadracci, who has made multiple acquisitions in printing plants in recent years, said its new Indian partner "shares our commitment to advancing the effectiveness of print in a multichannel media world."
ManipalTech, as it's known, is more diverse than Quad. Both print magazines, catalogs, books, annual reports and other ink-on-paper publications, but ManipalTech also produces debit and credit cards, bank checks and drafts, high-security labels, pre-paid phone cards, gift vouchers and holograms.
The Indian partner also has research-and-development capabilities focused on next-generation embedded technologies, biometrics such as fingerprints and iris recognition, printed electronics, and applications known as field communication.
ManipalTech employs more than 2,000 people in multiple production facilities and various sales and office locations in India. Annual sales approximate $90 million.
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