Fuji Photo buys UK printer ink supplier for £150m

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Fuji Photo Film, the world’s second-biggest camera film maker, is set to bolster its copier and printer business as it prepares to take over Avecia Inkjet, a British ink dyes supplier, for £150m (US$260m).

The world’s second-biggest camera film maker has been trying to strengthen its other business divisions, as demand for traditional color camera film is declining. By acquiring Avecia, Fuji is aiming to tap into increasing demand for ink dyes and ink-jet printers for home use.

Tokyo-based Fuji said on Monday that it aimed to more than double sales at Avecia Inkjet to Y30bn by March 2010, from current sales of Y14bn. Avecia, which is based in Lancashire, supplies ink dyes to companies such as Hewlett-Packard and Canon.

Analysts said the acquisition would become a new long-term source of earnings for Fuji, which only has a small share of the printer ink business at present.

Fuji earlier this year paid US$230m to acquire Sericol, a UK-based industrial ink maker. According to Dealogic, a data provider, the total value of cross border deals in which Japanese companies bought overseas companies was US$233bn this year, compared with around US$99bn in 2004.

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