Two companies, both engaged in the business of manufacturing compatible toners, have merged.
In order to consolidate the business of both the companies, Indian Toners & Developers Ltd, (ITDL) and its’ subsidiary, ITDL Imagetex Limited have been amalgamated. with ITDL which would provide a competitive edge to ITDL as it would now be focusing on international as well as the domestic market. The amalgamation shall also add to the financial strength of ITDL. It will also result in maximizing
“This is going to provide ITDL with a competitive edge,” CEO Akshat Jain told RT Media. “It will allow ITDL to focus on international markets as well as the domestic market in India” His father, Sushil Jain, the founding chairman of the public company said, “the amalgamation shall also add to the financial strength of ITDL. It will also result in maximizing the overall value of all the stakeholders and will improve the competitive position of the combined entity. It will also achieve greater efficiencies in operations with optimum utilization of resources and better administration.
Following the amalgamation, both the companies will be known by a single combined entity namely Indian Toners & Developers Ltd. (ITDL).