Ilford Imaging Switzerland stemmed from the breakup of the lford Imaging Group back in 2005, when the UK operations of the photographic paper company were saved by a management buyout leading to the creation of Harman Technology.
At the time, Ilford's German division was forced to close down, while the Switzerland company was saved, at the last minute, by Oji Paper, a 130-year old company based in Tokyo. Over the past five years, the Swiss business operated as a wholly-owned subsidiary of Oji Paper.
Now, Ilford Imaging Switzerland has changed hands, becoming part of Paradigm Global Partners' portfolio. "Recognising the assets that Ilford has to offer, including its capability for developing leading edge technology, its state of the art manufacturing facility and its world-renowned brand, Paradigm believes there is scope for significant future growth and value creation," the firm says in a statement.
It adds: "The Paradigm acquisition will maintain the financial stability of the company and provides a sound platform to manage future challenges."
Ilford's chief operation officer Lars Sommerhauser admitted that the company had gone through a rough patch over the "last few years." But, he adds, "this announcement has injected a renewed sense of energy and excitement within the company and provided the business with focus and direction.
For more information, visit www.ilford.com.
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