The latest news from the French company is the announcement of a new subsidiary.
Already with 26 sites worldwide, the French industrial group ARMOR, founded nearly 100 years ago, has just established a site in Colombia, strengthening its local ties with customers in Colombia, Peru, Ecuador and Bolivia.
The company explains, in the early 2000s ARMOR began to expand its Thermal Transfer ribbon transformation sites outside France, notably in North America and the Asia-Pacific region. In 2004 it was China’s turn, followed by a slitting site opened in Brazil in 2007 and three further sites in 2014 in India, South Africa and Mexico.
Today ARMOR has 26 sites worldwide and 80 percent of its sales are achieved internationally. Already with 50 percent market share in the four countries of Colombia, Peru, Ecuador and Bolivia, ARMOR is now targeting 60 percent market share by opening its Colombian production subsidiary, Armor Colombia, based in Medellin.
Hubert de Boisredon, CEO of Armor, explains: “The founding of ARMOR Colombia marks a further step in the group’s co-industrialisation model, which is the reverse of offshoring. By increasing our market share in Latin America for thermal transfer ribbons used in the printing of variable information on packaging and barcode labels, we increase production in France of semi-finished product reels. We are building a virtuous circle for the future.“
