TOKYO - Toppan Cosmo Inc. (TCI) has signed an agreement to purchase Chiyoda America, based in Morgantown, PA. The business agreement between the Tokyo-based firms of TCI and Chiyoda Gravure Corp. was announced Sept. 2.
According to a news release, TCI subsidiary Toppan Interamerica Inc. will assume control of Chiyoda America's decorative printing business and production facilities. The agreement, which is slated to close in the fourth quarter of 2012, affects the decorative printing of Toppan products in the United States and Belgium. Prior to the agreement, Chiyoda Gravure claimed to be the only printer with facilities in the United States, Europe and Japan. It established the U.S. facility in 1987.
Based in McDonough, GA, Toppan Interamerica manufactures a variety of printed laminates, including light basis weight papers, saturating grade papers and PVC & Non-PVC films. The products are used in the production of residential furniture, RTA furniture, contract furniture, cabinetry, closets and flooring.
According to information on Toppan's website, the purchase agreement will "minimize the effect of currency exchange rates" and provide "local manufacturing for better flexibility, service and lead times."
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