Manugraph acquires US-based DGM to become largest press manu co

New Delhi, Nov 7 (UNI) Manugraph India today announced that it will acquire US-based leading manufacturer of Web Offset Printing Machines Dauphin Graphic Machines Inc (DGM) for 19.2 million dollars, to form the world's largest single width press manufacturing company.

As per the proposal, post acquisition, the combined entities will continue to maintain their manufacturing and assembling operations in three facilities -- two in India, and one in the US.

The entity will offer a full fledged product range to all its customers.

''We are extremely excited about this proposition and upon completion of this acquisition, we will not only be the pioneers in the web offset press business in India, but will also become the largest manufacturers of single width press in the world. We are already offering our services globally and look forward to further expand our business reach,'' Manugraph India Chairman Sanat Shah said.

The company aims to propel its annual turnover of Rs 320 crore in fiscal 2006, to a consolidated turnover of Rs 750 crore in fiscal 2008.

''We have already invested heavily in state-of-the-art facilities, machining capabilities and engineering resources. With DGM, we now look forward to launch a new range of products globally,'' Mr Shah added.

DGM is a profit making company with current annual turnover of around 70 million dollars. Avendus Advisors was the sole advisor to the company for this transaction.

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