Finance director Steve Bayley said the Speedmaster, which should be installed in February, would replace two presses, a four- and a six-colour.

The company would use the buy to make inroads into the long-run publishing market, he added. Philip Myers Press currently operates in the commercial colour and direct mail sectors, where the press will also enable work to be produced more efficiently.

The 12-colour comes with CP 2000 and Image Control spectral colour management, which will be linked to the firm's existing five- and six-colour presses.

Philip Myers Press has extended its 4,000m-square plant with an 800m-square warehouse.

By Andy Scott