SingPost Enters into Joint Venture for Print-on-Demand Business
Singapore Post Limited (SingPost) announced that its wholly-owned subsidiary, Singapore Post Enterprise Private Limited, has entered into a joint venture agreement with Global Print on Demand Network International Ltd (GPN International) and Oce Singapore Private Limited (Oce) to engage in the business of Print-on-Demand.
A joint venture company, GPN Asia Pte Ltd, will be incorporated in Singapore, which will print in Singapore and distribute to the region. SingPost will have 20% equity in the joint venture with an initial investment of €200,000 for the subscription of ordinary shares in the capital of GPN Asia Pte Ltd.
Oce and Euradius will hold 20% and 60% stake in GPN Asia Pte Ltd respectively, also through capital injection. GPN International, a subsidiary of the Dutch incorporated company, Euradius International B.V., is largely in the printing business, with specific expertise in the field of Print-on-Demand technology.
Euradius is merging with The Sheridan Group, a leading provider of printing and publishing services in USA, focusing on the journal, magazine, catalogue and book markets. Oce is a Singapore-incorporated company in the business of design, manufacture and support of digital printing devices. It is also the leading supplier of print and document management products and services. SingPost is Singapore’s foremost domestic and international mail service provider, with global distribution capabilities. It is also in the business of logistics and retail services, having one of the widest distribution networks in Singapore.
GPN Asia Pte Ltd will leverage the synergy created by the combined strengths of the joint venture partners, with each partner adding value through the expertise in their respective fields. By locating its print and distribution centre in Singapore, GPN Asia Pte Ltd will be able to harness Changi Airport’s extensive connectivity for quick and efficient distribution of printed materials within Asia.
Singapore, together with the US and Netherlands will serve as the regional print and distribution hubs in GPN International’s global Print-on-Demand network.
