Ilford Imaging Switzerland, which makes Galerie-brand inkjet photo paper, has announced it will continue forward through its financial difficulties but lose 40% of its workforce
Further updates from Ilford Imaging Switzerland: the firm has now announced a partnership with Lintec Sign Systems, a wide format printing and commercial display company.
In a statement, Ilford Imaging Switzerland said that this partnership would allow Lintec Sign Systems to take advantage of Ilford’s recent developments in coating technology for printers.
CEO Paul Willems said, ‘I am delighted that we have established a solid partnership with one of Japan’s most innovative and forward thinking suppliers to the commercial wide format market.’
The first results of the partnership will be displayed at the Sign & Display Show in Tokyo on 19-21 September.
Original article 17/9/13:
We reported in July that Ilford Imaging Switzerland GmbH was up for sale, but the firm has now announced a series of financial acquisitions and partnerships that it says will allow it to embark upon a new business plan.
The management team behind Ilford Imaging Switzerland has acquired the Ilford Imaging and Ilford Property companies, and funds raised from selling off a ‘significant’ part of the land owned by Ilford Property will be invested in the Ilford Imaging business.
Additionally, JetGraph Co., Ltd., a Japanese and Chinese distributor, has agreed to enter into the share capital of the company in partnership with the management team.
Even with these investments, the recent difficulties have caused the need for restructuring. Ilford also announced that it would be reducing its workforce by 40% throughout the entire business.
Paul Willems, chief executive officer of the management team, said, ‘The last few weeks have been extremely challenging and I would like to thank the dedicated members of staff that even through the restructuring process, have continued to push the business forward under very difficult circumstances.’
He went on to thank Ilford’s customers and suppliers for their continued support throughout the business’s financial tribulations.
Ilford Imaging Switzerland stressed that it is still trading throughout these difficulties and does not anticipate any disruption to its core products such as Galerie inkjet paper.