NexPress Solutions and Buhrmann Graphic Systems Announce European Agreement
Press release from the issuing company
ROCHESTER, N.Y.--Aug. 16, 2004-- NexPress Solutions, Inc., a wholly owned subsidiary of Eastman Kodak Company, and Buhrmann Graphic Systems, a division of Buhrmann NV, announced today an agreement in which NexPress will acquire certain assets of the Buhrmann digital sales and service business for the KODAK NEXPRESS 2100 digital production color presses and KODAK DIGIMASTER digital production systems.
The agreement covers several key European countries, including Belgium, the Netherlands, Luxembourg and Spain, as well as major cities in Italy. Buhrmann sales and service personnel in these countries will become part of NexPress, reporting to Paul Willems, vice president, NexPress Solutions and regional general manager, Europe, Africa and Middle East region (EAMER).
Under the terms of the agreement, NexPress plans to acquire certain inventories and other assets from Buhrmann, and recruit a number of Buhrmann's highly qualified sales, service and support personnel. Buhrmann will continue selling and servicing Digimaster systems in Greece and several other European cities. Financial terms are not being disclosed.
"This agreement expands NexPress' direct coverage in major European markets," said Venkat Purushotham, president and CEO, NexPress Solutions, Inc. "It enhances our market position in Europe and demonstrates our commitment to better serve our customers directly and grow the digital printing business."
The Buhrmann sales and service employees will join the more than 300 sales and service personnel that were hired after Kodak acquired NexPress in April 2004.
"This agreement will benefit customers of both organizations," said Carl Thomas, president and CEO of Buhrmann's Graphic Systems Division. "While Buhrmann focuses on its core competency of offering a comprehensive array of solutions to the graphic arts production industry, we will work closely with NexPress to help customers find value in acquiring digital solutions."
"We are working closely with Buhrmann to ensure this is a seamless transition for our customers," said Willems.
The agreement is subject to customary closing conditions, including any necessary works council consultations. The agreement does not require shareholder approval from either company.
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