Managing director Rod Fowler told ProPrint that the "seismic change" occurring within printing made it essential to find new markets.

Printing and office solutions will no longer provide 90% of the company's turnover, he said. Security destruction services, which currently comprises the other 10%, will start contributing a greater share, he added.

Renz-Masterbind is about to install an automated security destruction system into a government building, said Fowler.

The installation will take six months and will provide ongoing maintenance work.

Fowler said the value of the government contract was in the millions. He also said the sector had the potential to contribute "many, many millions" of revenue as organisations placed increasing importance on security destruction and secure waste removal. Plans are also afoot to export the security destruction technology, he added.

Fowler said the 2012 calendar year would "probably be our best year ever" with traditional business remaining steady and a big boost coming from the government contract.

"It adds a significant chunk of business this year," he said.

"That's a whole new concept that has nothing to do with the print industry. You've got to be innovative and can't just rely on the traditional stuff.

Click here to read more news about deals.

Comment below to have your say on this story.

If you have a news story or tip-off, get in touch at editorial@sprinter.com.au.  

Sign up to the Sprinter newsletter