Escher-Grad: $1.5 million Expansion of Manufacturing Operations
Press release from the issuing company
MONTREAL, QC -- November 2nd, 2001 -- Escher-Grad Technologies Inc. today announced a 1.5 million dollar expansion of its manufacturing operations. These funds will be used to increase equipment, materials and manpower in response to the recent demand for the company's violet laser computer-to-plate imaging products, the Cobalt line of violet laser platesetters. In these tough economic times where many companies are downsizing, Escher-Grad is reaping the benefits of years of research and development with a product line on the cutting edge of technology that provides users high quality, low cost solutions for their prepress needs.
Launched in 1999, the Cobalt-8 caused quite a stir in the prepress industry with the highest quality output available at price of approximately one-third of that of the closest competitor. The Cobalt-4, a smaller version of the Cobalt-8, was recent released in September of this year due to high market demand. Now, with two plate technologies from three major industry suppliers, Agfa, Mitsubishi Imaging and Western Lithotech, and other suppliers quickly joining the violet consumables market, violet CtP is fast becoming the industry standard.
The 4-up market is huge with no other reasonably priced alternatives, said Najeeb Khalid, Chairman and CEO of Escher-Grad Technologies. Our equipment has been described by others as the Rolls Royce of output devices. While maintaining our high quality standards, the Cobalt-4 is the Model-T of the CtP market - CtP everyone can own. Expansion of our manufacturing operations is necessary to keep up with the high demand we're experiencing.
The expansion of their manufacturing operations is not only good news for Escher-Grad but for the many local suppliers that furnish Escher-Grad with the parts and materials used in their products. More than 85% of parts are procured from local Montreal-area suppliers, many of whom have been working with Escher-Grad for many years.
Montreal-based, Escher-Grad Technologies Inc. is entering its sixteen year as a worldwide industry leader in the research, development, manufacturing and marketing of advanced technology, high resolution laser imaging systems providing powerful, fully integrated productivity solutions for the graphic arts, cartography, packaging, textile and printed circuit board industries.
Escher-Grad continues to provide the highest quality imaging possible. Escher-Grad's revolutionary Cobalt-8 was the world’s first Violet Laser Diode PlateSetter and the first to break the $100,000 price barrier. Escher-Grad's CtP product arsenal now also includes the Cobalt-4, a 4-page version of the Cobalt-8 and the UV CTP PlateSetter, an 8-page engine which images on high performance conventional plates.
As it continues on a course of carefully planned growth, Escher-Grad Technologies is committed to aggressively pursue research and development of technology and systems that will bring still higher productivity and profitable performance to the industries it serves. The company has a worldwide installed base in more than twenty countries. A liaison office was opened last year in Tokyo, Japan and the company has expanded its distribution and service capabilities still further through agreements with leading distributors serving major markets throughout Europe, North America and the Pacific Rim.
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