Toyo Ink SC Holdings Co Ltd, the parent company of the Toyo Ink Group of Japan, plans to open a new sales subsidiary in Casablanca, Morocco, in preparation for a full-scale business launch into the African continent.
Eyeing the future economic progress of Africa, the company will set up its very first office on the continent, Toyo Ink North Africa S.A.R.L., for the medium- to long-term timeframe, with paid-in capital of €2.4M.
“Following China and India, the African continent is believed to be one of the future growth engines of the global economy,” said Katsumi Kitagawa, Group CEO of Toyo Ink Group.
“Up until now, the Toyo Ink Group had been developing its business in the region by way of our existing operating bases.
"These efforts are now beginning to pay off as sales in the region have been steadily rising.
"The decision to establish an office in Morocco is a result of this early success and our need to focus on branding efforts, as we continue to solidify our position as a global single-source provider of integrated printing and packaging solutions.”
Toyo Ink North Africa will be engaged in developing business opportunities for a wide range of Group products such as commercial printing inks, liquid (flexo and gravure) inks and adhesives for food packaging and can coatings.
It will market existing Group products while functioning as a market research hub to help promote products customised to the unique needs of local markets.
Moreover, the new subsidiary will not only focus on expanding sales and the development of ink products but also work to increase sales of the Group’s growing chemical businesses.
Through its business activities, Toyo Ink North Africa aims to form a solid foundation on which to make a positive contribution to the growth and development of African nations over the long term and to ultimately realise the Group vision of creating a vibrant world in which all living beings and the environment can co-exist harmoniously.