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Our Bureau

Mumbai , Nov. 7

Manugraph India Ltd, the country's largest manufacturer of web offset printing machines, will acquire Dauphin Graphic Machines Inc (DGM), manufacturer of web offset printing machines in Pennsylvania, US, for $19.2 million, the company said in a press conference.

The combined entities will continue to maintain their manufacturing and assembling operations in three facilities - two in India and one in the US. Post acquisition, Manugraph will offer a full-fledged product range to its customers.

The new company styled Manugraph DGM Inc will be the world's largest single-width press manufacturing company. Manugraph enjoys 70 per cent market share in India while that of DGM in the US is 60 per cent.

Manugraph India will raise $2.2 million through preferential allotment to sellers with the rest being debt.

"We have already invested heavily in the latest facilities, machining capabilities and engineering resources. With DGM, we look forward to launch a new range of products globally," said Mr Sanat Shah, Chairman, Manugraph India.

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