KPG Acquires Tech Services International, Will Serve Clients in U.S. & Canada
Press release from the issuing company
Norwalk, Connecticut, USA Dec. 13, 2001 – Kodak Polychrome Graphics (KPG) announced today its intention to acquire the business assets of Tech Services International L.P. (TSI), a leading provider of technical service and support for print industry technologies. The new company, a wholly owned subsidiary of KPG will be headquartered in Kennett Square, Pennsylvania, USA.
"This acquisition supports our global initiative for continued growth in services and our ongoing commitment to customer excellence," said Jeff Jacobson, Chief Executive Officer, Kodak Polychrome Graphics. "Acquiring TSI represents an important next step forward in our effort to enhance our service capabilities in the U.S. & Canada. Globally, it represents a part of our strategy to meet customer needs on a regional basis."
KPG will maintain TSI as a separate company but will combine the technical and logistical strengths of both organizations. Following completion of the transaction, KPG service organization employees will become employees of TSI. TSI will be a single source for a complete menu of technical services including contract and demand onsite services, spare parts and logistics, applications, and color management support.
"By combining the service delivery infrastructure of TSI and the technical capabilities of both companies, both KPG and TSI customers will experience a wider range of offerings and streamlined service delivery," said Andrew Copley, President of Kodak Polychrome Graphics, United States and Canada region. "KPG customers in the US&C can expect unequaled service as they will now be served by a company whose total commitment and focus is to technical service and support."
"KPG has the global resources, complementary expertise and North American market presence we need to accelerate growth in TSI's products, services and well-established customer base," said Tom Faughnan, President and CEO of TSI. "Combining the two company's state-of-the-art skills, product portfolios and knowledge means more customers will have a greater choice of leading products and services."
Faughnan will continue with TSI as President reporting directly to Copley who will assume the title of Chairman and Chief Executive Officer of TSI after the acquisition. The transaction is expected to be complete by the end of 2001. Both companies will continue to operate as separate organizations until after the agreement is finalized.
About Tech Services International, L.P.
Tech Services International, L.P. is the first nationwide, independent service company dedicated to the graphic arts industry. Employing more than 170 technical, applications, and logistics personnel throughout North America, TSI specializes in both conventional and electronic imaging systems, and offers many innovative service options to OEMs, Dealers, and End-Users. TSI has agreements with many OEMs and Dealers who provide hundreds of products for the graphic arts industry. Additional information regarding Tech Services International may be found on the company’s website: www.tsiyes.com
About Kodak Polychrome Graphics
Kodak Polychrome Graphics provides one of the broadest product and solutions portfolios available in the graphic arts industry today, including a wide range of conventional lithographic plates and thermal plates for computer to plate solutions, Kodak branded graphic arts films, and digital proofing products. With headquarters in Norwalk, Connecticut, USA, and regional offices in the United States, Europe, Japan, Asia Pacific and Latin America, Kodak Polychrome Graphics serves over 130,000 customers in more than 100 countries. Additional information regarding Kodak Polychrome Graphics may be found on the company's website: www.kpgraphics.com.
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