$300m investment boost for Landa
Friday, June 29, 2018
Landa Digital Printing (LDP) has received a further investment of $300m (£228m) from German entrepreneur Susanne Klatten to aid its expansion as more machines head out to customers.
Headed up by founder and chair Benny Landa, the Israeli manufacturer will use this latest cash injection to finance the expansion of its company infrastructure and manufacturing capabilities, as well as its continuing R&D and market development.
Klatten had previously collaborated with Landa to invest $100m in his project to develop his nanographic printing technology in 2014. She did so through speciality chemicals group Altana, which she wholly owns. This second bout of investment, confirmed on 27 June, is a joint effort by Altana and private investment firm SKion, also owned entirely by Klatten.
She said: “My investment reflects my confidence in the technological potential of Landa Digital Printing. Together we can spark the market demand for digital printing solutions.
“To be part of this new chapter in the history of printing also means a significant entrepreneurial move for me.”
With the new investment, Altana and SKion collectively own 46% of Landa Digital Printing, while Benny Landa remains majority shareholder with 54%. According to reports in the Israeli media, this latest investment values LDP at $1.8 bn.
Benny Landa said: “We are delighted with our longstanding relationship with Altana and are extremely pleased to broaden that partnership to include SKion, with whom we have a shared vision.
“This substantial financing is one of the foundations we are laying for accelerated growth, now that we have started shipping our nanographic printing presses to customers around the world.”
Landa Digital Printing currently has two presses installed – the most recent being an S10 B1 inkjet press being beta tested at Edelmann in Heidenheim, Germany, installed in February. It was taken on by Edelmann following a thorough inspection at Landa’s base in Israel by group chief executive Oliver Bruns.
In a recently released video, he said: “After looking at our options, it was clear that Landa is the partner for us and I’m very happy we have ordered the S10 and are one of the first European companies to receive it.
“I get a kick seeing a digital press running at 6,500 sheets per hour. It is at offset speed and offset quality – the results are spectacular. I personally inspected the press inside out.”
Though PrintWeek reported in September last year that an unnamed UK customer was set to take on a Landa press around the middle of this year, there has yet to be any further announcement on the identity of the customer.