Toyo Ink Group to Open Sales Office in Morocco
March 23, 2019Toyo Ink SC Holdings Co.,
Ltd., the parent company of the Toyo Ink Group of Japan, today announced 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 EUR 2.4 million.
“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 customized 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 realize the Group vision of creating a vibrant
world in which all living beings and the environment can coexist harmoniously.