The region of Southeastern Europe, consisting of Greece, Bulgaria, Cyprus, Romania, Serbia, Bosnia/Herzegovina, Montenegro, Croatia and Moldova, Europe offers opportunities for ink manufacturers.
 
With this in mind, Sun Chemical formed a joint venture (JV) in 2012 with the publication divisions of Druckfarben Hellas Group, strengthening its position in the region.
 
The JV resulted in five subsidiaries: Sun Chemical Publication Bulgaria, Sun Chemical Croatia, Sun Chemical Publication Greece, Sun Chemical Publication Romania and Sun Chemical Publication Serbia. The companies account for $30 million in sales of inks, coatings and consumables for publication, sheetfed, UV and screen printing.
 
In June 2015, Sun Chemical announced that it had acquired the remaining shares of the JV from Druckfarben Hellas. The current management tem will continue with the companies.
 
Robert Fitzka, group managing director, Europe Central Region, Sun Chemical, said that the region has suffered some economic challenges, but it is rebounding. 
 
“After a few years of difficult economic challenges related to the Greek public debt crisis and the impact of the slowdown in the Eurozone area, we are seeing the Southeastern European printing markets starting to recover,” said Fitzka.
 
Greece represents roughly half the potential in the Southeastern European region, with Romania and Bulgaria two other significant markets.
 
The decision to expand the JV was a natural one, Fitzka noted.
 
“Sun Chemical has had a historical presence in the region starting with a distribution agreement with Druckfarben Hellas, which naturally evolved into a joint venture and ultimately Sun Chemical taking full control of the operation,” Fitzka said.
 
“This acquisition reinforces Sun Chemical and DIC’s commitment to the growing Southeastern Europe market as these companies are the market leaders of printing inks and related products in a region where the economies are growing,” added Rudi Lenz, president and CEO of Sun Chemical.
 
Fitzka noted that the combination of Sun Chemical and Druckfarben Hellas Group will ultimately benefit customers in the Southeastern European region.
 
“Sun Chemical’s portfolio of leading technologies will benefit from the long and strong historical presence of Druckfarben Hellas in the region,” Fitzka concluded. “It allows us to offer customers with innovative technology and services from the market leader.”