Takeover target CSG ramps up digital production sales in Australia

A Darwin-based print and technology company has moved to expand its role in the commercial printing industry on both sides of the Tasman.

According to an announcement made during its annual general meeting last week, the technology and printing solutions company, CSG, will introduce its production printing business – sales and service – into the Australian market next year.

The announcement follows a mystery $340 million bid for the company from an as-yet unnamed buyer – a deal that CSG has yet to officially confirm.

Having already entered the New Zealand market through the sale of the Konica Minolta printing product range, the company also announced it intends to grow its recent sales momentum in that market.

CSG’s managing director, Denis Mackenzie (pictured) said at the annual general meeting that the company would also increase its focus on the commercial sector with greater sales coverage in its Australian printing equipment business which, following a deal struck with Canon Australia earlier this year, now sees the company providing maintenance services to over 10,000 Canon multifunction devices nationally – a move that prompted Fuji Zerox Australia to sever its existing business ties with CSG, as Canon is their direct competitor.

The move to further invest in bolstering and broadening its print services in Australia and New Zealand follows CSG’s healthy net yearly profits, which hit $40.4 million, 26 per cent up from the previous year. However, much of that buoyancy was provided from the company’s computer services businesses.

Despite the healthy end of year financial figures, CSG’s share price had tumbled to below 75c, but rose again following the September bid announcement. CSG’s managing director, Denis MacKenzie has said the company expects to reach a decision about its sale to the as yet unnamed outside investor by December.