Canon on Monday said it would enhance its focus in the Indian professional and graphics printing industry in partnership with the Netherlands' Oce, which it acquired in 2009.
“Canon will sell, distribute and service Oce products in the areas of production printing, wide format printing, signage printing and business services,” Canon India Senior Vice-President Alok Bharadwaj told journalists here.
Stating that they were targeting revenues of Rs.100 crore in the segment in 2011 and wanted to take it up to Rs.250 crore by 2015, Mr. Bharadwaj said: “We will serve the market, which is around Rs.1,000 crore and growing at 25 per cent, with our two new business divisions in the digital production and wide format printing space. We aim to capture leadership position with largest product portfolio of 70 products.” Canon had acquired Oce in 2009 for about $1.1 billion and holds 90 per cent stake in the Dutch company. At present, Canon's products in the production printing categories are priced between Rs.10 lakh and Rs.80 lakh while Oce has printing equipment with prices ranging from Rs.2.5 lakh to Rs.25 crore. “Oce has a huge portfolio. Our major strength is in printing documents or print shops. Now, we will enter the offset printing or book publishing space or transactional printings. It will open more business avenues for us,” Mr. Bharadwaj said.
Stating that they were looking for alliances to enter the space, he said it had already hired 60 people in the sales and services division and was looking at hiring more people as it expanded its presence in more cities. Canon registered a growth of 50 per cent last year in India, with a revenue of Rs.1,260 crore and is expected to generate over Rs.4,500 crore by 2015.
