Computer Support Italcard srl of Sulbiate, Italy, has acquired a majority stake in another Mitsui Chemicals Inc. subsidiary that replicates recordable compact and digital versatile discs. Terms were not disclosed.
The unit, Mitsui Advanced Media Inc., makes recordable CDs using 30-ton Sumitomo injection molding presses at a Colorado Springs plant. Beginning in September, the automated, 50,000-square-foot site also will mold recordable DVDs on Sumitomo or Netstal presses being purchased.
The Colorado operation employs 100 and had 2002 sales of $22.3 million, down from $37 million in 1999, spokesman Joe Weisenbach said by telephone.
Tokyo-based Mitsui Chemicals characterized the June 9 deal as a partial withdrawal from the saturated optical disc market. CSI, however, is boosting its presence in the market. With the additions, CSI employs 540 and projects annual sales of about $130 million.