CHICAGO
The number of plate suppliers to newspapers is about to shrink. Konica Minolta Graphic Imaging Inc. announced Thursday that it is selling its offset printing plate business -- including subsidiary American Lithoplate Inc. -- to Southern Lithoplate Inc.
Terms of the deal, which is scheduled to close Oct. 1, were not disclosed.
Konica said the sale was “based on the long term strategy” of parent Konica Minolta Medical & Graphic Inc.
“Konica Minolta Graphic Imaging has a long standing tradition and heritage in the prepress and printing supply business,” Kazuhiko Fukushima, president and CEO of Konica Minolta Graphic Imaging Inc. said in a statement. “We are honored by our loyal customer relationships over these many decades. We thank our customers for their belief and support which fueled our growth in the CTP (computer to plate) and conventional plate business over the last three years.”
He said Southern Lithoplate “has customer values very similar to ours which facilitated this sale.”
The continuity of customer supply, service and support is our primary objective during this transition process.”
Southern Lithoplate Chairman and CEO Edward A. “Trip” Casson said of the acquisition in a statement: “In addition to further positioning Southern Lithoplate as a premier and trusted supplier for the North American news and commercial print market, this will expand our growing commitment to our international markets including, but not limited to South America.”
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