As a result of the changes, a corporate structure under the name HighWater CTP has been created.

According to Companies House, HighWater CTP was incorporated on 17 February 2010, listing Jie Wei as its sole director.

Wei, who is also chief executive of Cheltenham-based HighWater Designs, said in a statement: "This reorganisation will allow a better leverage and align the strengths of our product range. HighWater remains committed to providing the widest array of high-quality, pre-press equipment to a loyal distribution channel. HighWater CTP is looking forward to introducing several innovative products at Ipex."

Wei was unavailable for further comment.

Sales director Peter Flynn said the company had not gone into administration and no sites had been closed.

However, some staff have been made redundant, although Flynn would not disclose how many.  

He added that Graham Tucker had recently been appointed as managing director of HighWater CTP. 

In April 2009, Vanguard Graphics International (VGI) sold a majority stake in UK pre-press specialist HighWater Designs to Wei, joint owner of the Chinese CTP manufacturer Hangzhou Cron Machinery & Electronics.

HighWater Designs, which was established in 1987, is a UK-based manufacturer of CTP and pre-press workflow products.

More to follow...