Seiko Epson Corporation (“Epson,” TSE: 6724) today announced that subsidiary company Epson Italia S.p.A. would take on a 50% share in For.Tex S.R.L. of Como, Italy. For.Tex is a leader in textile printing, and the move strengthens Epson’s efforts to establish itself in the digital textile printing market.
Located in the heart of the Italian textile industry, For.Tex specializes in sales of textile printing inks, manufacturing and sales of treatment agents used in textile printing processes, and digital textile printing chemical consulting. The Italian company has worked closely with Epson since 2003, when Epson entered the market by jointly developing the Monna Lisa digital textile printer with Robustelli of Italy.
The two companies plan to work closely together to help customers improve the quality of their products and the efficiency of their work processes. For.Tex will be responsible for marketing textile printing, selling dedicated Monna Lisa inks developed by Epson, and manufacturing and selling treatment agents that work in perfect combination with both the inks and textiles.
Textile printing is shifting rapidly from analog to digital, with the latter forecasted to grow by 400% between 2010 and 2015. Epson will take on a 50% share of For.Tex with the aim of further cementing its presence in the textile printing market. The investment will bring together Epson’s core inkjet printing technology and global sales and service network with For.Tex’ expertise in textile printing marketing, consulting, and printing processes. With the ultimate aim of expanding the market for digital textile printing, the companies’ goal is to work together to create superior products with new textiles, colours and patterns, and provide proposals and service that will illustrate to customers the advantages of digital textile printing.
“We are delighted to announce this agreement with For.Tex,” said Minoru Usui, Epson’s corporate president. “It’s another example of how Epson is seeking to leverage its core Micro Piezo technology to provide enhanced value to new customers in fields as diverse as proofing, signage, commercial photography, production and industry. Both Epson and For.Tex are leaders in their respective fields, and this tie-up provides a superb opportunity to expand the market for digital textile printing.”
“Cooperating with an international company such as Epson has given us the opportunity to enter the growing global digital textile market, and take on new and positive challenges,” said Pietro Roncoroni, president of For. Tex. “Epson’s decision to take 50% share of our company is a sign we are moving in the right direction. In the future we will focus on expanding the digital textile printing market with the aim of offering customers enhanced printing quality.”
Epson’s corporate vision calls for the company to leverage its core technologies to provide products and services that exceed the vision of customers worldwide. An essential part of this strategy is tailoring Epson’s core Micro Piezo inkjet printing technology to the needs of customers in textile printing and other commercial and industrial domains.