Hong Kong company acquires majority stake in printer supplier
A Hong Kong-based company will be able to tap into new markets after acquiring a majority stake in a maker of specialty printers.
DASCOM Americas, which makes serial business printers, said this month that it has acquired the stake in Printek in Benton Harbor, which makes mobile and dot matrix business printers.
The new Printek
Under terms of the acquisition, Printek will continue to operate as a separate and independent company under the legal entity Printek LLC.
Ron Acorn, president of DASCOM Americas, a subsidiary of DASCOM Holdings in Hong Kong, said DASCOM Americas in Verona, Va. and Printek will continue to operate as they’ve been operating.
“We plan to grow our operations base in Benton Harbor and will continue to operate our engineering, production, customer service, sales, marketing and administration from our current location,” said Julie Payovich, who will continue her role as president at Printek.
Payovich, along with Russ Corace, executive vice president of engineering, and Chris Yeager, director of marketing, will form the core management team for Printek and will be minority stakeholders in the company.
Tom Yeager, founder and former CEO of Printek, Inc., founded in 1980, will no longer be involved with the organization.
"Economies of scale"
“What this will do for us both here and as part of our larger organization worldwide is that we will eventually create new products utilizing synergy and economies of scale,” Acorn said. “This is clearly something that will enhance the value proposition for our company and customers around the globe on a longer-term basis.”
Ho Chi Cheung, DASCOM Holdings chairman, said DASCOM has been "making strong gains in select global segments of the printer market in both the Americas and EMEA.”
DASCOM currently has a global brand with a particularly large presence and market share in China.
DASCOM has more than 25 years of experience in the business transaction printing industry and employs more than 2,000 workers at its primary manufacturing facility in Jiangmen, China.