ARMOR and IIMAK Merge Their Activities
At the origin of the shared history between ARMOR and IIMAK is a license from the Japanese company Fujicopian, shared in the 1980s. Now, the two companies form a single entity, operating under the common banner of ARMOR-IIMAK and leaded by Christian Lefort, who recently joined the ARMOR group.
ARMOR, through its ARMOR Industrial Coding and Printing business, is the world's leading manufacturer of Thermal Transfer ribbons with a 30% market share, while IIMAK, No. 4 worldwide, is the leader on the North American continent.
Hubert de Boisredon, CEO of the ARMOR Group: “This major acquisition for ARMOR builds on the success of ARMOR Industrial Coding and Printing over the past 15 years. During this period, we have focused on investing in our production facilities and product ranges, and on expanding internationally to be closer to our customers. It is also an undeniable proof that French industrial Mid-caps can become world champions.”
ARMOR-IIMAK, the undisputed world leader
With a 40% market share and nearly 2.5 billion m² of thermal transfer ribbons manufactured each year, ARMOR-IIMAK 2020 turnover is €322 million, and it employs nearly 1,650 people. Leader on all continents, the new entity will enjoy global industrial coverage via three coating sites, one in each of its regions (Americas, Asia and Europe), and nearly 20 slitting sites. The company is already planning to open new slitting sites to maximize customer proximity.
Christian Lefort, CEO of ARMOR-IIMAK: "The paths of our two companies, both historic market leaders in thermal transfer technology, cross once again and will now be irrevocably united. This merger will benefit all our customers and external partners, as well as our employees. I am both delighted and honored to lead this merger with the full support of everyone at IIMAK and ARMOR."
Doug Wagner, CEO of IIMAK and appointed President of ARMOR-IIMAK Americas: "I share the enthusiasm of the teams who have worked to prepare this merger. We look forward to contributing to the birth of ARMOR-IIMAK, which will combine all the qualities and historical know-how of our two companies.”
ARMOR, a group in mutation
Led since 2004 by Hubert de Boisredon, Chairman and CEO, the ARMOR Group will celebrate its 100th anniversary next year. The first company to manufacture carbon paper in France, the company places societal innovation at the heart of its business model. So, in addition to its historical activities, ARMOR Industrial Coding & Printing, and ARMOR Print Solutions (remanufactured printing consumables and services), the industrial Mid-cap has invested since the beginning of 2010 in new activities, called New Techs: ASCA, which reinvents rigid solar panels in flexible and thin solar films; KIMYA, dedicated to 3D printing; ARMOR Battery Films, which manufactures coated collectors to improve the performance of electric batteries; and finally, ARMOR Smart Films, to direct thin film coating technology towards any new application of the future, particularly in the health sector.
Hubert de Boisredon, CEO of the ARMOR Group: “I am convinced that the company must play an essential role in society. And to do this, far from resting on its past achievements, it must be in constant motion. I pushed for this major acquisition in the United States because it opens up an extraordinary field of transformation and development for our group.”