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Featured:     European Coverage     Production Inkjet Analysis

Shira Shuts Down

Wednesday, August 20, 2003

Press release from the issuing company

August 20, 2003 -- (WhatTheyThink.com) -- Shira’s parent company Vyyo noted in a filing with the SEC that they would “cease substantially all of Shira’s business operations and terminate substantially all of Shira’s employees. In addition, Vyyo is exploring the sale of Shira’s operations and assets to Shira’s management; however, if it is unable to negotiate a sale on acceptable terms, Vyyo expects to complete the winding down of Shira within the next two months. Vyyo made this decision due to the continuing decline in Shira’s sales, Shira’s recurring losses and its inability to penetrate the market. Vyyo would likely receive only minimal value, if any, in a sale of Shira.” Shira was a creator of automated preprint production and workflow management solutions for the print on-demand, prepress, printing and publishing markets. In April, the company announced the rollout of XPRESSI Version 2.0, a network preprint production and management solution for Raster and PDF workflows. The company’s U.S. phone number has been disconnected and we have been unable to reach anyone at Vyyo for comment.

 

 

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