INDUSTRY NEWS
Novus Holdings Diversifies With ITB Manufacturing Merger
Novus Holdings has acquired ITB Manufacturing . This acquisition forms part of Novus Holdings ' business strategy to diversify into related and new markets to boost profitability and increase cashfl ow through sourcing new revenue streams for the group .
In June 2017 , the Competition Commission approved the proposed merger between the two entities and the merger has now come into effect .
' Acquiring ITB Manufacturing will allow Novus Holdings to access revenue streams outside of the print media sector , which to date has been the source of the majority of our income . This investment in the packaging industry further entrenches us in the broader industrial and manufacturing sectors , and is complementary to our existing operations ,' said Keith Vroon , Novus Holdings Group CEO .
ITB Manufacturing , currently with operations in KwaZulu-Natal and Gauteng , produces a wide range of flexible packaging solutions , servicing sectors such as FMCG products , automated packaging films for dry goods ( both food and nonfood ), industrial bulk packaging for polymers and chemicals , retail check out bags , tamper evident security bags , courier envelopes and general fl exible plastic packaging .
ITB ’ s sales strategy is synergistic with that of Novus Holdings as it is centred on long-lasting , collaborative relationships evident in its loyal customer base . Novus Holdings ’ subsidiaries and ITB aim to leverage off each other ’ s existing customer network with its combined offering and broader spectrum of products .
' ITB ’ s manufacturing capabilities are aligned with that of the Novus Holdings Group of companies . Novus Holdings has packaging and label equipment that caters to the long and short run market . ITB ’ s capabilities are a perfect fit , offering solutions that both complement and fill the gap between the group ’ s current capabilities .
Novus Holdings , in conjunction with ITB , plans to expand on the current ITB offering and gain organic growth in the flexible plastic packaging and wrap around label sectors . ITB has also already recently added new capacity to its operation in KwaZulu- Natal to increase its extrusion and print production capabilities to further service its diverse customer base .
Tim Stewart , the MD of ITB Manufacturing , has the following to add about the merger : ' Novus Holdings is a market leader in the printing and manufacturing industry , with a reputation for high quality and personalised service , which we uphold in our own dealings with clients . We are delighted to join forces with the Novus Holdings group of companies , and look forward to the opportunities to offer an expanded range of packaging solutions , with an improved geographical footprint and an enhanced range of products and services from synergies with the technical and production capabilities of Novus Holdings .'
' We are also excited that we can begin to work together for the benefit of both parties and towards achieving Novus Holdings ’ overall growth strategy , as Novus continues to look to other industries for logical expansion and diversification initiatives ,' concluded Stewart . www . novus . holdings
Hitech Graphics Celebrates 21 Years
Hitech Graphics , established in 1996 , looks back at its achievements and milestones over the past 21 years .
Sales director Wayne Govender explained that the company originally started in the litho industry space , taking on unknown brands from Europe , USA and Asia . The company has seen a shift from litho to digital in the last six or seven years , and is now supplying both markets .
‘ We believe that service is our best selling point and are always trying to meet customers ' needs with fast turnaround times and quick responses , especially in an industry that is known for ‘ print on demand ’,’ said Govender .
Hitech Graphics was established in Durban and has expanded throughout the rest of South Africa and southern Africa . The company now also has representation in Johannesburg , Cape Town , Port Elizabeth , Middelburg and Rustenburg , as well as in Botswana and Swaziland .
The company has expanded its offerings , recently launching the LG Hausys sign and graphic materials , and will add many more exciting products in 2018 .
In terms of what the future holds for Hitech
Graphics , Govender said , ‘ Our priority is to always satisfy the printing industry with the highest service levels , which we have built our reputation on , and allow for consistent product innovation .' Hitech Graphics is a family-owned business that has had managers and directors throughout its history with a combined experience of 50 years .
This environment allows for future generations t o be involved with fresh ideas to maintain a high level of quality , service and integrity in the market-place . www . hitechgraphics . co . za
PG 18 JANUARY 2018 AFRICA PRINT JOURNAL www . AfricaPrint . com