EFI Acquires Cretaprint to Enter Ceramic Tile Printing Market with Inkjet Printers

Ceramic Tile Printing Market Outlook

In a conference call with industry journalists and analysts, Ghilad Dziesietnik, chief technology officer of EFI, discussed the Cretaprint S.L. acquisition and the market opportunity that industrial inkjet provides for ceramic tile printing. With some 12,000 to 15,000 ceramic tile manufacturing lines, most of those lines are suited for Cretaprint inkjet printers to replace the lines' current screen printing processes.

In the next three years, EFI aims to capture roughly 25 percent of the digital ceramic printing market, he said. Key competitiors include Durst and Hope, a Chinese company.

As a major manufacturer of inks for its VUTEk and Rastek wide-format printers, EFI also plans to analyze whether it makes sense to manufacture consumables for ceramic tile printing applications, according to Dziesietnik.

FOSTER CITY, CA—Jan. 10, 2012—Electronics For Imaging has acquired privately-held Cretaprint S.L. for approximately $31 million and an earn-out of up to $21 million based on growth targets for 2012 and 2013. Cretaprint, with headquarters in Castellón, Spain, is a leading developer and supplier of inkjet devices for printing on ceramic tiles.

“As evidenced by our record revenues, we are benefitting from strong traction in our industrial inkjet segment and are excited about expanding into the ceramic tile market, which represents a tremendous growth opportunity for EFI,” said Guy Gecht, CEO of EFI. “We have been tracking the swift transformation from analog to digital technology in tile imaging for quite some time, and have been deeply impressed with the fast growth and global leadership position of Cretaprint.”

“We are extremely excited to join EFI and look forward to leveraging EFI’s Silicon Valley high-tech DNA, inkjet expertise, workflow, and color management,” said Victor Blasco, CEO of Cretaprint. “EFI’s global presence will accelerate the adoption of our digital technology across the globe and especially in emerging markets.”

Industry analysts continue to project rapid growth in ceramic tile inkjet printing, as noted by Dr. Ray Work, Work Associates. “The tile industry is moving towards inkjet,” said Dr. Work. “The financial incentives are so great that the entire industry is converting rapidly to inkjet. The ceramic tile manufacturer can pay back their investment in an inkjet digital press for ceramic tiles in as little as six months.”

The Specialty Graphic Imaging Association (SGIA) conducts annual membership surveys. Its “2011 Industrial Printing Survey Report” indicates that more than 75 percent of its members utilize digital printing and also consider ceramic tile printing to be a strong market opportunity.

EFI will use its extensive knowledge of inkjet technology to enhance Cretaprint’s quality of output, software control, color management and more. EFI’s digital experience and award-winning imaging technology in combination with Cretaprint’s leading ceramic tile printing solutions will provide the industry with expanded offerings, superior workflow software and a worldwide support network that will expand Cretaprint’s reach worldwide.

EFI plans to strengthen Cretaprint’s operations in Spain, to further its expertise and innovation within the tile industry, and to grow the company’s market presence.

“As a pioneer in the digitization of the print industry, EFI is expanding into lucrative new markets. The ceramic tile industry can greatly benefit from our innovative portfolio of technologies,” said Ghilad Dziesietnik, chief technology officer of EFI. “We look forward to sharing our success with Cretaprint’s 1,700-plus global customer network and expanding their talented employee base in Castellón.”

Fourth Quarter 2011 Preliminary Results

Separately, EFI announced preliminary results for the fourth quarter of 2011, ended Dec. 31, 2012. It expects record revenues of approximately $163 million, compared to $145 million in the fourth quarter of 2010, marking EFI’s eighth consecutive quarter of double digit growth. The company noted that the results were driven by record revenue in both the inkjet and APPS segments, which contributed to continued strong growth in the company’s recurring revenues.

About EFI
EFI is a world leader in customer-focused digital printing innovation. EFI’s award-winning solutions, integrated from creation to print, deliver increased performance, cost savings and productivity. The company’s robust product portfolio includes Fiery digital color print servers; VUTEk superwide digital inkjet printers, UV and solvent inks; Rastek UV wide-format inkjet printers; Jetrion industrial inkjet printing systems; print production workflow and business process automation software; and corporate printing solutions.

Source: EFI.

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