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X-Rite Bags $18 Million Contract With Unknown Fortune 500 Company

Press release from the issuing company

X-Rite Bags $18 Million Contract With Unknown Fortune 500 Company GRANDVILLE, Michigan, X-Rite, Incorporated (NASDAQ:XRIT), a leading global provider of technology solutions that measure color, light, and shape, announced today the signing of its largest contract in corporate history. The company stated that it would develop an instrument and quality control system for a Fortune 500 customer who will utilize it in a worldwide color quality control program. Although details of contract terms, market, and technology are restricted by confidentiality agreements, the company did disclose that the contract was worth $18 million over the next five years. ìThis contract signifies a milestone for X-Rite and exemplifies the strength of our core technologies,î stated Rich Cook, President and CEO of X-Rite, Incorporated. ìThis new instrument design and communication system will move color control into the hands of a whole new set of customers, expanding our business base nicely. Broadening the base of our customers in this market and others is one way we will be growing X-Rite in the future.