HT Media to set up printing facility

New Delhi: HT Media has signed a joint venture with German media group Hubert Burda, under which it will set up a printing facility near its own Greater Noida facility.

Hubert Burda, which has interests in publishing, radio, event management and the Internet, and HT will leverage the latter’s expertise in printing and publishing and India’s competitive advantage to tap growing media platforms in India and Asia, HT informed the Bombay Stock Exchange.

HT Media, which has 19 printing facilities, will now use its facilities for international publications too, and capture opportunities in the growing, high-end magazine and catalogue printing space in India and the Asia-Pacific Region, said the company in a statement.

According to Mr Rajiv Verma, CEO, HT Media, since a “substantial portion of the business has been secured as part of the joint venture” the company expects the joint venture to be profitable in its first full year of operations.