Price, who founded Ashgate Automation in 1989 and was very well known in the print finishing industry, died on 8 August following complications after a heart attack.

His son Lewis Price, who joined the company in 1999, will now take over as managing director of Ashgate Automation.

Oxfordshire-based Ashgate established itself as the UK distributor for the Fastbind range of photobookmakers and KAS Paper Systems' bookletmakers and creasers.

It also worked with a number of partner companies, including Duplo, Ideal, Maxit, Konica Minolta and Taopix.