Sun Chemical and DIC acquire security ink company
The group strengthens hold on security ink market with new acquisition of the UK-based Luminescence.
Sun Chemical and its parent company, DIC Corporation, have acquired Luminescence Holdings Ltd., a manufacturer of currency, tax stamp, passports, ID cards, secure documents and brand protection inks for the security market. Luminescence serves customers in over 100 countries.
With the acquisition of the United Kingdom-based company, Sun Chemical will increase its market share in the securities market. By combining Luminescence’s portfolio of products with Sun Chemical’s global reach, customers will benefit from a new truly global player.
The acquisition creates an enormous growth platform for Sun Chemical in the $2.7 billion security ink market.
“Luminescence has a fantastic reputation in the security market for technology and service. Sun Chemical has the world’s largest research and development capabilities in the ink marketplace. What these two companies bring together is a truly exciting global supplier that will further strengthen our service to customers,” said Felipe Mellado, chief marketing officer and board member.
Sun Chemical, a member of the DIC group, is a leading producer of printing inks, coatings and supplies, pigments, polymers, liquid compounds, solid compounds, and application materials.
Together with DIC, Sun Chemical has annual sales of more than $7.5 billion and over 20,000 employees supporting customers around the world. With 176 subsidiaries and affiliates in approximately 63 countries and territories worldwide, DIC was one of the first Japanese printing ink manufacturers to establish a presence in other parts of Asia.