Toyo Ink SC Holdings Co., Ltd., the parent company of the Toyo Ink Group of Japan, today announced plans to open a new sales subsidiary in Casablanca, Morocco, in preparation for a full-scale business launch into the African continent. Eyeing the future economic progress of Africa, the company will set up its very first office on the continent, Toyo Ink North Africa S.A.R.L., for the medium- to long-term timeframe, with paid-in capital of EUR 2.4 million. “Following China and India, the African continent is believed to be one of the future growth engines of the global economy,” said Katsumi Kitagawa, Group CEO of Toyo Ink Group. “Up until now, the Toyo Ink Group had been developing its business in the region by way of our existing operating bases. Moreover, the new subsidiary will not only focus on expanding sales and the development of ink products, but also work to increase sales of the Group’s growing chemical businesses.

Source: The North Africa Journal March 22, 2019 14:03 UTC