Lastra marketing and communications manager Carla Bonetti said the firm had bought Western Lithotechs US plate manufacturing facility, plate technology and hardware.
Western Lithotechs DiamondPlate range of CTP plates includes three thermal plates and three visible light plates, including a violet diode sensitive photopolymer plate.
Hardware includes the DiamondSetter newspaper platesetter, which is used by News International.
Western Lithotech Europe managing director Kevin Dewhurst was unaware of the situation although he had "heard several rumours".
Mike Warnes, sales director at Mitsubishi Chemicals UK printing products division, MCSi, said he couldnt comment as all he had heard were rumours emanating from Lastra, but he expected an official announcement to be made today (5 April).
Mitsubishi Chemical is two years into a three-year restructuring programme to improve margins and reduce debt. Its Information and Electronics Related Products division, which includes Western Lithotech, has pledged to concentrate on highly profitable businesses and divest or withdraw from non-performing operations. Profitable and growing parts of this business include recordable CDs and DVDs and lasers for telecommunications.
In 2000 Mitsubishi Chemical had sales of 8.7bn (1,700bn), of which the Information and Electronics Related Products division contributed 10.9%.]
Story by Barney Cox
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"Well done all involved... great to see the investment to increase the productivity in the same footprint- much more sustainable than popping another one up."
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"Does appear an odd decision as with that level of shareholder funds they would be liable for the staff redundancy and cover the insolvency costs. It’s not like they could take the money and dodge..."
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