Canon currently holds an approximately 90% stake in Océ. Canon India expects joining forces with Océ will generate Rs 100 crore revenue in this domain in 2011.
“Canon has grown exponentially in the year 2010,” said Mr. Kensaku Konishi, President & CEO, Canon India. “This move enhances our strategy and positions us to become technology leaders, offering greater value products and services to customers and partners of both our companies. With this move, we will change the dynamics of competition in the industry and that will also benefit customers in terms of cost and propositions.” Canon registered 50% growth in the year 2010 with revenues of Rs 1260 crore and is expected to generate revenues of 1 billion US$ by 2015”.
Going forward, Canon India will be handling the Océ business portfolio and will be the single interface across a range of products targeting multiple segments including Offset printing, transaction printing, bill printing, signage printing, Photo arts printing, CAD and GIS printing. Currently Canon has 19 products in its professional printing portfolio and together with Océ the portfolio will increase to 70 product offerings. The alliance will offer customers the largest portfolio in the professional printing space.
Commenting on joining forces, Mr. Alok Bharadwaj, Senior Vice President Canon India, said, “India is a major printing market. The size of the digital printing industry in India is Rs 1000 crore. The Indian print industry has around 1 lac offset printers & 1000 print shop providers. The digital printing industry in India is expected to grow at 25% year on year. Océ, being a world leader in various printing segments including the production printing domain, will supplement Canon’s best in class processes and infrastructure. This will effectively enhance our ability to unlock the market’s considerable potential and to become the key growth driver in the digital printing market. Canon launched its production business in late 2007 and achieved revenues of Rs.30 crore in 2010. We aim to generate revenues of Rs. 100 crore in 2011 with this business integration.” He further added, ”Canon India has appointed 2 new business divisions and appointed separate heads , namely Puneet Datta, who will manage the Océ Production & Printing division, and Rajeev Tewari, who will lead the Wide Format imaging division. A team of 50 sales & service staff is dedicated to the business of professional & graphics printing targeting major companies and printing firms across the nation.”
Mr. Wil Snijders, Vice President Emerging Markets & Direct Export at Océ, added, “In the world of printing, there is no bigger or more exciting growth opportunity than India. I am looking forward to expansion in Océ’s business now as Océ has joined forces with Canon. There is a great fit between our companies. We share similar values and a strong commitment to technology and innovation. This is the most compelling combination in the consolidating global printing industry and will deliver scale in R&D, manufacturing and distribution. India is a very important market for us. We are extremely proud to enter India through our association with Canon. Our partnership and the combination of the Canon and Océ operations will transform our ability to unlock Indian market’s considerable potential and enable us to become a significant player in the arena of professional and commercial printing in this market.”