NUR Macroprinters Announces Appointment of David Reis as President and CEO
Press release from the issuing company
LOD, Israel--Nov. 30, 2005-- NUR Macroprinters Ltd., a leading supplier of wide-format inkjet production printing systems for the out-of-home advertising market, today reported that David Reis has been appointed as the new President and Chief Executive Officer of NUR. David Amir, the previous CEO and President is expected to advise NUR during the management transition. Until Mr. Reis assumes his role as President and CEO of NUR, Eli Blatt, a partner at Fortissimo Capital Fund and a member of NUR's board of directors, will serve as its interim Chief Executive Officer. NUR also announced its intention to amend and restate its financial statements for 2003 and 2004.
Mr. Reis comes to NUR with extensive experience in the industry. Mr. Reis is currently the CEO of ImageID, a venture backed technology startup, and is expected to assume his new position with NUR within the next three months. He was previously the CEO of Scitex Vision Ltd., a manufacturer of wide format digital printers that was recently sold to Hewlett Packard. During his six-year tenure at Scitex Vision, Mr. Reis grew the company's revenues significantly. Prior to joining Scitex Vision, Mr. Reis served as the CEO of Idanit, a manufacturer of digital printers that was acquired by Scitex Corporation in 1998.
Yuval Cohen, the Managing Partner of Fortissimo Capital Fund and the Chairman of NUR, stated, "We are delighted to have David Reis join NUR and we look forward to working with him. I am confident that David Reis' experience, industry expertise, and professionalism will positively impact NUR and further enhance NUR's leadership position in the wide-format digital printing arena."
David Amir, the retiring President and CEO, stated, "After achieving a major milestone of attaining financial stability, the company will be able to leverage its solid product offering in order to increase sales and achieve significant growth. I am confident in the Company's future success and outstanding performance."
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