Diatec Group Will Acquire Arkwright
"Acquisition of a high-quality American coating asset has been a strategic goal for several years."
Diatec, parent company of Sihl USA, has agreed to acquire the coated product assets of Arkwright, Inc., the manufacturer of inkjet and laser-printable papers, films, and specialty substrates. Based in Coventry, Rhode Island, Arkwright is a wholly owned subsidiary of Oce NV and its coated-products business is a supplier of digital media sold under private label for printer manufacturers, distributors, and major brands. Arkwright's assets will be merged with Sihl Inc. and renamed Arkwright Advanced Coating, Inc.
"Acquisition of a high-quality American coating asset has been a strategic goal for several years," says Diego Mosna, founder and chairman of the Diatec Group. "Finding well maintained assets that had sufficient economy of scale, and that were kept productive by way of new product innovations, proved to be more of a challenge than we imagined. In spite of the fact that this business became non-strategic, they kept the business healthy and continued to invest into it. It’s an excellent fit with the rest of the Diatec Group."
Tom Egelund, executive vice-president of Oce Wide Format Printing Systems says: "Our decision to divest the coated products business of Arkwright developed over time as we prefer to invest in our core technology of digital print devices and partner over time with companies like Diatec that invest in their core technology of coating. It remains very much a part of our strategy to sell digital print solutions, including media, through our Wide Format Printing Systems
Founded in the 1800s, Arkwright been part of Oce since 1978. It has four manufacturing facilities in the US and 10 distribution centers in North America and Europe. In a press release, Sihl indicated that, 'The acquisition extends Diatec’s global position in the development and production of digital imaging media. Apart from improving its supply chain to the Americas, these assets, together with those in Europe, will enable the combined enterprise to efficiently supply its global accounts--brand owners doing business around the world that seek matched solutions in all the regions they serve. The deal also adds to the company’s research and development network which is targeting a variety of emerging industrial markets for engineered films and coated substrates. '
The Diatec Group acquired the primary businesses of Sihl AG in 2003. Headquartered in Cles, Italy, Diatec focuses on coating, converting, and marketing of medias for technical drawing, medias for digital copying, and digital printing of images with inkjet, laser, and electrostatic technology. A specific business unit is dedicated to production and marketing of papers and HD film for the garment industry and hot-melt adhesives. It employs 1000 people in 22 companies around the world.