WhatTheyThink Exclusive: Why EFI Acquired BDR Boya Kimya and What’s Up with EFI BOLT

EFI has maintained a particularly aggressive schedule of acquisitions over the past few years, acquiring companies that either get them into new markets (like the acquisition of VUTEk, to name just one example) or strengthen their position in markets they already play in. Friday’s announcement of BDR Boya Kimya, based in Bursa, Turkey, falls into the latter category. We spoke with EFI Reggiani’s Vice President and General Manager Adele Genoni to learn more.

WhatTheyThink:  BDR Boya Kimya is a fairly new company, only having been founded in 2016, but according to your press release, has quickly gained significant market share for reactive inkjet inks for digital textile printing. What is the background of the co-founders and how did they achieve this so quickly?

Adele Genoni:  Co-Founder Ibrahim Demir worked for EFI Reggiani in the past, so he has long been an expert in the textile field. His partner and co-founder, Serra Saatçıoğlu Yildiz, also has a good background in the industry. They both impressed us because they are very bright and passionate for business growth and success. Their success comes from a combination of their industry knowledge, strong relationships with customers and a good product. In only in a couple of years, they were able to become well-established in the Turkish and Pakistani textile markets.

WTT:  Was EFI already producing its own reactive inks for textiles?

AG:  Yes. We already have been producing water-based reactive inks in the UK. Now we will have two plants producing water-based reactive inks, one in the UK and the other in Turkey. The combination of the two businesses puts us in the leading market share position for these inks. We will be offering both EFI Reggiani and BDR inks and will provide whichever ink is most suited to a particular customer’s needs.

WTT:  Will you be selling these inks to other textile printer manufacturers, as BDR was?  

AG:  Owners of EFI Reggiani industrial digital textile printers will access to both inks. The BDR line of inks will continue to be offered also to other OEM producers of digital textile printers.

WTT:  Will you be offering BDR inks on a worldwide basis, then?

AG:  We will. These inks quickly became well-known in Turkey, Pakistan, and a few other countries. Now, we can give them access to the larger global footprint of EFI Reggiani. There is a lot of synergy in what we can do together. BDR will have access to EFI Reggiani’s global customer base and customer support infrastructure. They are bringing to EFI Reggiani their customer base. Their production operation is located in Bursa, one of the most important textile hubs in Turkey, just a couple hours outside of Istanbul.

WTT:  Will BDR take on local manufacturing of other EFI inksets? Will EFI take on manufacturing of BDR’s recipes in the UK or other locations?  

AG:  This is only Day One [we spoke on Friday, the day of the announcement]. We want to strengthen our position in water-based reactive inks for the success of our customers. We may take some of those steps later, but nothing has been decided yet.

WTT:  Ink prices are always an issue with anything inkjet. A while ago, I had an opportunity to speak to some BDR clients, who expected to see dramatic reduction in ink prices over the next couple years. What effect will this acquisition have on ink prices?

AG:  The market prices for reactive inks have gone down as production volumes have increased. That is a trend that will likely continue, although there is a level below which you can’t go any longer. The ink price is one of the key elements speeding up the analog-to-digital transformation in textiles, because it reduces the printing cost per meter. We at EFI Reggiani have developed a greener and shorter process, one that is even more cost effective, based on our TERRA printer line up and pigment ink. A shorter process implies less investment in pre- and post-treatment equipment and chemicals, offering a lower printing cost per meter, less use of water, energy, chemicals, and waste. 

WTT:  When will the textile community have an opportunity to meet the BDR principals and talk to EFI about reactive ink strategies?

AG:  We will be together at ITMA in June in Barcelona, and there we will present our reactive ink line-up, the combined product range, and both Ibrahim and Serra will be there to answer questions as well.

WTT:  Some time ago, EFI acquired Rialco, one of Europe’s leading suppliers of dye powders and color products for the digital printing and industrial manufacturing industries. Do the Rialco colorants play any role in BDR ink sets? Just curious if BDR was a Rialco customer or whether it got its colorants from other sources.

AG:  For sure we partner with Rialco as much as possible to leverage all the synergies, but Rialco is not in this field 

WTT:  What has been the initial reaction of BDR customers to this acquisition?

AG:  Again, it is just Day One. We have just disseminated the news to customers via emails, and, of course, the press release, so more comments will be coming. The team at BDR is really excited about the opportunity to be part of a group like EFI. 

WTT:  Can you give us a BOLT update? Have any been installed yet at customer sites, beta or otherwise?

AG:  There has been a great deal of interest in BOLT. We are a bit selective in our sales efforts at the moment and we have been giving dedicated demonstrations to customers. We already have two signed contracts, one in Italy and one in Pakistan, and there are other contract negotiations ongoing. The BOLT in Italy is currently in its final installation phase. We want to take the process one step at a time and make sure the system is solid and our customers are fully satisfied. 

WTT:  EFI will have a virtual reality tour of the Nozomi at FESPA…any plans to do something similar with BOLT at ITMA?

AG:  We will have a real BOLT at ITMA, printing fabric at the show, so attendees can take advantage of live demos there!

WTT:  I recently read about an inkjet waterless textile dyeing system that can dye 2,000 square meters per hour. With the BOLT running at up to 90 square meters per minute, why wouldn’t someone choose this, even if it is to print solid colors only? Are there any limitations in BOLT that would make that not a good idea?

AG:  I’m surprised every day at how good BOLT is. Customers are bringing in their digital designs, and it is amazing how well BOLT is printing them. Plain colors, geometric patterns, fine lines, deep black, smooth gradients…any limit can be overcome! Bolt can print plain colors well. BOLT does have outstanding penetration for a digital printing technology. Several customers have commented on the fact that color penetration for BOLT is outstanding compared to other digital textile printers.

WTT:  Thank you, Adele. Is there anything else you would like to add before we close?

AG:  We believe the acquisition of BDR will be phenomenal for our future steps in textiles, enhancing our capability with ink and chemistry, and fitting well into the entire EFI textile ecosystem. We are really excited about it. More to come!