The memorandum of understanding (MoU) was signed between Tetsuya Takano, managing director and chief executive officer, Ricoh India and Kasturi Rangan, president, non-IT product business, Redington India in September 2011.

"We are very pleased with the growing acceptance of our technology by leading companies that are providing superior print solutions. We are happy to be a part of the printers’ productivity enhancements to their customers through our devices," said Avijit Mukherjee, business head, production printing business group at Ricoh India.

Ricoh India operates through a network of 16 branches and over 280 dealers. The company says it aims to become a major player in the areas of managed document solutions, IT services, transaction printing, production printing and laser printers.

The company claims that it has garnered over 33% market share in India in the production printing segment.

"Currently clocking approximately Rs 300-crore, we hope to have strategic tie-ups, acquisitions and new product offerings with pan-India distribution," said Tetsuya Takano, Ricoh India’s managing director and chief executive officer.

Ricoh India is a public limited company with 26.4% by public and 73.6% owned subsidiary of Ricoh Company, Japan.

The MoU between the two companies will target various new segments including commercial printing, photo labs, advertising agencies and pre-press houses for the production printing business.

At the recently concluded Ipex South Asia, the Japanese digital equipment player, which is worth $21.7bn and has entered the Indian market a year ago, garnered six orders for its newly launched Ricoh Pro C751 press. According to the company the total orders swelled to ten by the end of the third day, which also included the Pro C901 presses and a wide-format printer.