Japanese chemical company DIC has purchased Lioaning Tianqi Technology’s business involved in the production and sale of liquid inks for packaging.

Financial details of the deal have not been disclosed.

Based in Tieling, Liaoning Province in the People’s Republic of China (PRC), the acquired business provides inks used for printing on flexible packaging materials for food products and beverages.

With this acquisition, the company hopes its liquid inks production capacity in the PRC will rise by nearly 20% . it is also expected to boost its regional supply configuration in the north and northeast, as well as sales.

According to DIC, the PRC has been experiencing rise in demand for liquid inks for packaging in the past few years.

The purchased business will be known as DIC Graphics (Shenyang) Ltd.

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Currently, DIC operates production facilities in Nantong, Jiangsu Province, and Guangzhou, Guangdong Province in the PRC.

In a statement, the company said: “DIC also recognises that dispersing its production sites in the PRC will enable it to ensure more stable supplies.”

As per DIC’s latest medium-term management plan, known as DIC111, the company is focused on investing “resources on packaging solutions”.

As part of this, the company is expanding its product portfolio and business scope.

To support this, it is reinforcing manufacturing capabilities in Asian markets, and entering joint ventures, mergers and acquisitions and more.

DIC added that it will continue to strengthen and widen its packaging solutions business.