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Purup-Eskofot and Barco Graphics Merger Moves Forward, Looks for CEO

Monday, January 14, 2002

Press release from the issuing company

The final agreement for the amalgamation of Purup-Eskofot A/S and Barco Graphics having been signed, the merger process is proceeding as planned. Purup-Eskofot President & CEO William Schulin-Zeuthen has decided not to accept the offer to head the new company and will leave his post on June 30, 2002 at the latest. Glad to see the new company launched, William Schulin-Zeuthen says: “Towards the end of our negotiations it became clear to me that in the future, it would be best for the new company to be led by someone from the outside rather than by someone from one of the merging companies. In this way, the new company will have a leader who can look at the situation with a fresh perspective and see the enormous potential of the new company - both in terms of daily operations and market position. This has been a difficult decision to make, but I am sure it is the right one. It has been taken in full agreement with the Board of the merging companies.” In order to manage the transition expeditiously, William Schulin-Zeuthen has agreed with the Board of Barco Purup-Eskofot to take the position as head of the new company until a new president & CEO takes over at the latest on June 30, 2002. Purup-Eskofot Chairman of the Board, Bent Pedersen who is also Managing Director of Kirkbi A/S and J.C. Deschamps, chairman of Barco Purup-Eskofot A/S commented: “We regret that William Schulin-Zeuthen will not head the new company. We are already looking for a new President for the company, which after the merger will be the world’s second largest prepress company with some 1,300 employees and activities around the globe.”

 

 

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