17th Jan 2019 17:00
LONDON (Alliance News) - Printing group Grafenia PLC said on Thursday it has started an upgrade programme for its main Litho Production Hub in Manchester, investing GBP2.1 million.
Grafenia will exchange three old Komori printing presses with a new Komori 8 unit B1 perfector. The new press will allow for shorter production times and reduce the chance for quality defects through inline colour management.
In addition Graenia intend to upgrade associated computer-to-plate pre-press systems in conjunction to installing the new press.
The GBP2.1 million will be funded through an asset finance package with an equity down payment, provided by merchant banking group Close Brothers Group PLC, repayable over a seven-year term.
The new press is expected to be operations in the Spring of 2019.
Shares in Grafenia closed untraded on Thursday at 9.76 pence.
Related Shares:
Close BrosGRA.L