Partnership Agreement
03 August 2009 - 10:20AM
UK Regulatory
TIDMLTS
RNS Number : 7418W
Litho Supplies PLC
03 August 2009
3 August 2009
Litho Supplies plc ("Litho Supplies" or the "Company")
Partnership Agreement
The Board of Litho Supplies is pleased to announce that it has entered into a
new partnership agreement ("Agreement") with Mitsubishi Heavy Industries, Ltd.
("Mitsubishi") whereby the Company's subsidiary, Graphic Arts Equipment Limited
("GAE") will take responsibility for the sales, customer support, servicing and
marketing for all sheetfed Mitsubishi Lithographic presses in the UK and
Ireland.
Since it was established in the 1950's GAE has been involved in the sales and
support of printing presses and has held the Shinohara agency since 1981. The
European headquarters for Mitsubishi Lithographic Presses will be located to its
site in Leeds. This location will be the base for Mitsubishi's entire European
printing operation, which includes sheetfed, commercial web and newspaper
presses. It will also function as Litho Supplies' new distribution centre for
spare parts as a well as a showroom for Mitsubishi sheetfed offset presses and
other products and services in the Litho Supplies portfolio. A specialist team
of engineers from Mitsubishi will transfer to GAE. The Company believes that
the combination of Litho Supplies' spare parts stores and distribution
facilities, together with Mitsubishi's UK based European central store will make
this among the most advanced service facilities in the industry.
The new partnership, which is fully operational immediately, is expected to make
a modest contribution to revenue in the current financial year. The Board has
confidence that with the provision of new products and services, together with
considerable operational efficiencies, the Leeds operation will present new
opportunities for revenue growth in future years.
Commenting on the Agreement, Michael Hammond, Chief Executive of Litho Supplies
stated "This is a great opportunity for Litho Supplies to strengthen its range
of products, services and expertise. It will not only add an extra revenue
stream but also provide us with opportunities to increase sales of our prepress,
pressroom and finishing products."
Contacts:
Litho Supplies Plc Tel: 01332 873921
Michael Hammond, Chief Executive
Eddie Williams, Group Sales Director
Astaire Securities Plc Tel: 0207 448 4437
Andrew Raca
This information is provided by RNS
The company news service from the London Stock Exchange
END
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