Luxembourg-based printing and packaging supplier Flint Group has floated a joint venture with Continental Printing Inks and Eagle Ink Systems in South Africa to achieve synergies in supply of ink and coatings.
The new entity, Flint Group Africa, will cater to the packaging and print media markets in South Africa and the sub-Saharan region.
Continental Printing Inks and Eagle Ink Systems managing director Sampie Hamman, who will be Flint Group Africa CEO, said: "We are delighted to join Flint Group's global organisation and are excited by the opportunities this partnership presents. Our common vision, strategy and business plans remain firmly in place and are only further enhanced by Flint Group's support."
Subject to customary closing conditions that necessary regulatory go-ahead, the transaction is expected to be completed by the fourth quarter.
Eagle Ink Group claims to be the only ink manufacturer in Africa to supply liquid lnk, laminating adhesives, paste inks, metal decorating inks and metal coatings and varnishes to the printing and packaging industry.
Flint Group CEO Antoine Fady said: "Under the guidance of Sampie Hamman - the business we are partnering with has grown to become the largest ink supplier in South Africa with local manufacturing sites in Johannesburg, Durban, and Cape Town where they place a strong focus on customer service and product quality - a strength which fits perfectly with Flint Group's own strategy and vision."