Armor Acquires iiMAK Thermal Ribbon Manufacturer
Armor Group has acquired IIMAK (International Imaging Materials) to reinforce its position as one of the global market leaders in designing and producing thermal transfer ribbons.
With consolidated revenues of more than USD 400 million, the combined thermal transfer activity will be known as Armor-IIMAK. Armor has enjoyed strong growth in Europe, with IIMAK similarly benefiting in the US, dating back to the 1980s through a shared license from the Japanese company Fujicopian until 1998. Armor-IIMAK now employs 1,650 people and produces over 2.5 billion square meters of thermal transfer ribbons each year.
The two companies are collaborating to achieve a number of goals, including expanding their presence in North and South America and providing customers with a more comprehensive product portfolio. The new entity will also use collaborative technological development to improve existing products, develop new ones quickly, and reduce its carbon footprint through optimized logistics.
Through this merger, the new entity will enjoy global industrial coverage via three coating sites, one in each of its regions (Americas, Asia and Europe), and nearly twenty slitting sites. This transaction, which was facilitated by PwC and JonesDay, also includes IIMAK's Fluid Inks industrial activities but excludes its medical contract manufacturing business, iiMED.
Product offerings will remain the same until the end of 2021 and all sales will start offering the new ARMOR-IIMAK range in the course of 2022.
Barcode Factory looks forward to helping their customers benefit from this merger, now and in the future.