Check Technology Changes Name to Delphax Technologies
Press release from the issuing company
MINNEAPOLIS, March 25 -- Check Technology approved a proposal to change the name of the corporation to Delphax Technologies Inc. Beginning April 1, 2002, the Company's common stock will trade on the National Market Tier of the Nasdaq Stock Market under the new symbol "DLPX.''
"The change in name reflects the substantially greater breadth of our current product offering and market opportunities,'' said Jay Herman, chairman and chief executive officer. "Our Company has evolved over the past few years from a provider of check printing equipment to a provider of digital printing technologies to multiple markets. Combined with the versatility of our high-volume Imaggia digital print system, our recent acquisition of Delphax Systems has given us both the basis for our new name and a range of established and emerging products unmatched by any competitor within the market niches we are targeting.
"The centerpiece of our longer-term strategy has been the targeted penetration of alternative markets for sheet-fed printing equipment on the strength of Imaggia's speed and versatility. With the Delphax acquisition, we have greatly expanded our capability to move beyond the check and financial document market segments through the addition of high-volume roll-fed product lines.
"Our objective is to replicate what we've accomplished in our check-printing market niche in these additional market segments.''
As an example of the Company's print-on-demand capabilities, Herman displayed a 257-page copy of "Walden,'' by Henry David Thoreau, which was printed in just nine seconds on one of the Company's new high-speed roll-fed digital presses.
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