The Russian Corporation of Nanotechnologies (RUSNANO) agreed to invest ca. $5.5 million (166 million Rubles) in exchange for a 25 percent stake in Sun, a Russian manufacturer of UV and solvent printers and ink. The investment will be used to upgrade and expand production of printers and ink and for working capital purposes. The other project costs out of total 1,112 million Rubles ($37 million) will be funded by financial investors as a combination of equity investment, leasing financing, and working capital loan.
Founded in 1998 as reseller of printing equipment, Sun (компания Сан) established its own R&D lab in 2005. The company now manufactures and sells UV and solvent wide format printers, laser and milling engravers, cutting plotters, LED displays, UV-LED units, UV and solvent Ink Sunflower. Sun is the only global maker of UV-LED printers, universal wide format printers for direct printing on almost any type of material: plastic, wood, glass, metal, tile, banner and even on non-thermostable materials (paper, thin films, foam plastic).
Sun is headquartered in Novosibirsk and employs more than 300 people. It has sales and service offices in Russian cities and abroad (China, Kazakhstan, and Ukraine). The company that reported revenues of $13 million in 2008 is owned by Vladislav MIrchev and led by CEO Natalia Stasyuk.
According estimates from RUSNANO, the global UV-printer market, which is valued at $607 million in 2008, is expected to grow to $989 million in 2013. The global UV-ink market, which is valued at $248 million in 2008, is expected to reach $407 million in 2013.