Jan. 19--HYDERABAD, India -- In an effort to expand its marketshare in the wide format digital printing segment, HP India has partnered with Hyderabad-based digital printing solutions company MacroMedia Digital. As part of this plan, MacroMedia has invested Rs 10 crore for installing HP Scitex printing solution targeting the point of purchase (POP) and point of sale (POS) applications in the retail industry.
"The new HP Scitex FB6700 will help us explore new opportunities in the retail segment. Estimates show that 10 million square feet of retail space will be added in the next three years and POP market will be over Rs 1,500 crore by 2007-08," said D Naresh Kumar, managing director of MacroMedia.
According to him, the HP Scitex FB6700 can print directly to rigid sheets, making it ideal for the production of POP and POS displays. "We already have a partnership with HP and have invested over Rs 25 crore for installing HP printing machines. Presently, we have a capacity to produce 21 lakh square feet super wide format printing per day," he said.
With the new machine in place, MacroMedia expects to clock revenues of Rs 28 crore this year as against Rs 22.5 crore last year.
Addressing a press meet on Thursday, Puneet Chadha, country manager, commercial sales -- imaging & printing group of HP India said, this was the first time an Indian company had invested in HP Scitex FB6700. "We acquired Scitex in August 2005 and country wide integration of operations of both the companies are yet to be completed in India," he said.
Quoting estimates, he said, the printing market in India is about $12 billion of which digital printing accounts for about 12 percent. "It is expected to grow at 17 percent by 2010. Our plan is to expand our marketshare in this segment with the help of our partners," he said.
News stories provided by third parties are not edited by "Site Publication" staff. For suggestions and comments, please click the Contact link at the bottom of this page.