News Release about GPI's Acquisition of Katun
General Plastic Industrial Co., Ltd. Enters into Agreement to Acquire Katun Corporation
General Plastic Industrial Co., Ltd. (“GPI”) (TWSE: 6128) convened a board of directors meeting on September 30, 2017 resolving to acquire 100% of the interest units of Katun Holdings, L.P. (“Katun”). Following the board of directors meeting, GPI has signed an agreement to acquire Katun from Monomoy Capital Partners, the company’s current owners. Currently, it is anticipated that the closing of the Acquisition will be completed by the end of this year at the earliest.
The target company of the Acquisition, Katun, was established in 1979 and is one of the world’s leading providers of OEM-compatible imaging supplies and related after-sale services, supplying a variety of products, including cartridges and consumables for photocopiers, printers, fax machines and multifunction printers. Currently, Katun has over ten thousand small and mid-sized customers in 123 countries around the world. Through providing high-quality products at reasonable prices and respecting patent development by OEMs, Katun has satisfied the needs of its customers from all channels, becoming a reliable and trusted partner to them.
GPI was established in 1978 with its core businesses encompassing development, patent acquisition, production, assembly and sales of cartridges and consumables for the branded business machines, with its main product lines of cartridges and consumables for photocopiers, printers and toner cartridge drums. Its main customers include global toner manufacturers, regional agents and distributors. The Acquisition will enable GPI to secure a leading position in the after-sale market service of the business machine consumable supplies. In particular, photocopier consumables are key products for both GPI and Katun, so GPI will obtain significant advance with respects to its strategic positioning in the global market for photocopier cartridges.
In the next stage of group integration, in addition to maintaining its spirit of customer service, GPI will continue enhancing relationships with existing customers of the group by creating shared prosperity with such customers. The more important step is to leverage the internal resources of the group, such as efficient allocation of resources for research and development and procurement so as to effectively shorten the time for launching new products with the expectation to achieve “synergy.”
Looking to the future, GPI will continue to maintain its patent development and technical progress, and integrate its advantages in production, brand and sales channels to provide high-quality products and high-valued after-sale services to customers so as to enhance value to its shareholders, employees and society.