KPG Plans Continued Investment and Support for Imation Products
Press release from the issuing company
Norwalk, Connecticut, USA – Responding to customer inquiries, Kodak Polychrome Graphics (KPG) confirmed today that the Company plans to continue to support and invest in the full range of Imation products and technologies upon completion of its intended acquisition of Imation’s color proofing and color software business.
"KPG places a high value on Imation’s color proofing and color software product portfolio and on Imation customers. That’s why we are buying the business," said Jeff Jacobson, Chief Executive Officer of KPG. "We intend to continue to support Matchprint and other Imation lines. Until the transaction is complete we can’t be more specific than that, but we don’t want customers wondering about the future."
KPG announced Oct. 18 that it intends to acquire Imation’s full portfolio of color proofing, film, plate, and color software offerings, as well as Imation’s Color Technologies manufacturing facility in Weatherford, Oklahoma. In making the announcement, KPG made it clear that it believes Imation’s portfolio complements and expands KPG’s offerings.
KPG’s acquisition includes the full line of Matchprint brand products and proofing systems, including: Matchprint conventional proofing systems, Matchprint Digital Halftone GT with GAMUTec Technology, the Matchprint Professional Server, Matchprint Inkjet System, the Matchprint Inkjet Proofing System 5046/5060 and the Matchprint Virtual Proofing System. In addition, KPG will acquire Imation’s VerifiTM Accurate Web Color, the Color Fidelity Module, ColorKey and Rainbow Proofing Systems Models 2040/4700. Upon completion of the deal, Imation customers will continue to receive high quality film and plate products from KPG.
Vic Stalam, KPG’s Chief Marketing Officer, and Barbara Cederberg, President of Color Technologies for Imation, are leading each companies’ individual business transition efforts, which are expected to continue for the remainder of this year.
Consummation of the transaction is subject to notification and expiration of the waiting periods under applicable antitrust approval requirements and other customary closing conditions. The transaction is expected to close by the end of 2001.
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