It follows Lastras acquisition of Western Lithotech, with which Creo has had a deal in North America since last September.

"This acquisition is very significant the LT2 plate is one of the best positive thermal plates on the market," said Creo chief executive Amos Michelson. "We now have a low cost manufacturer with fantastic thermal plate technology."

The deal will take place once Lastras European factories have begun production of Western Lithotechs LT2 positive thermal plate. This is expected to happen by the end of the year.

Michelson believes Lastras access to the LT2 technology and its expansion of thermal platemaking capacity, which includes at least two new lines in Europe, will have a dramatic effect on the price of thermal plates.

"We expect the supply of thermal plates to increase so drastically that it will change how things are priced in this industry," he said.

Story by Barney Cox