Mimaki Engineering Co., Ltd. announced it has concluded the basic agreement on purchasing stocks of an Italian company La Meccanica Costruzione Tessili-S.P.A. on December 16, 2015.
MIMAKI Group has been developing and manufacturing innovative industrial inkjet printers and distributing them throughout the world. Our products are especially highly acclaimed in the European textile and apparel markets and we are aiming to further expand the market share.
It originated in July 2015, when an Italian sales agent which was one of our group's major business partners introduced us to La Meccanica, a manufacturer of devices associated with digital textile printing. La Meccanica and MIMAKI Group continued negotiations for business collaboration and finally reached the basic agreement that MIMAKI Group purchases all the stocks that have been issued by La Meccanica.
La Meccanica is located in Bergamo in Italy that is the origin of the European apparel, and it has established itself as a major brand of devices for digital textile printing over nearly 40 years. We are aiming to acquire the manufacturing know-how of digital print devices and brand power to give a boost to our existing products, and improve our competitiveness in the textile inkjet printer industry in Europe and the world.
Stock Purchase Content
- Equity ratio before and after the stock purchase
Before the purchase 0.0%
After the purchase 100.0%
* Subject to change depending on the negotiation after this basic agreement.
* It has been agreed between the stock sellers and us that the transaction amount shall not be disclosed.
Outline of La Meccanica (as of the end of December 2014)
- Name: La Meccanica Costruzione Tessili-S.P.A.
- Main business: 1) Manufacturing, marketing, and servicing devices for digital printing 2) Inspecting textiles, and manufacturing, marketing, and servicing packing machines.
- Foundation: 1977
- Address: Via Delle Industrie 174CAP24059 Urgano (Bergamo) Italia
- President: Paolino Gastoldi
- Capital: 517,000 Euro
- Employees: 32
- Sales: 6,000,000 Euro (for year 2014)
- Major shareholder and ratio: President's family 100%
- Relation to MIMAKI Group: No financial, business, and personal relations
December 16, 2015
- Conclusion of the Basic Agreement (stock purchase)
February to March 2016 (plan)
- Conclusion of the Formal Agreement (stock purchase)
The impact caused by this purchase on the consolidated business results is negligible and there is no change in the projected performance of MIMAKI Group for the time being.