Mitsubishi Paper Mills Ltd. and Okamoto Chemical Industry Co. said Tuesday that both will set up a joint venture in April to produce printing plates for computer-to-plate press technology, which reduces production time.
OM DIPRIMA Ltd. will be capitalized at 100 million yen and based in Tokyo. Mitsubishi will own 51 percent of the venture, while the remainder will be held by Okamoto.
The companies expect demand for CTP systems to further expand as digital technology spreads. Conventional printing using aluminum plates requires several stages, but CTP systems send computerized content directly to the plates.
The joint venture hopes to earn annual sales of about 2.5 billion yen within three years, they said.