Middleway, W.V., --Feb. 17, 2004—Spectratech International, Inc., a North Carolina Corporation and lithoplate manufacturer, announced today the sale of its West Virginia lithoplate manufacturing operation to CREO Inc.
”Under the terms of the agreement, Spectratech International has sold all the manufacturing assets and the business base of the Middleway, W.V. lithoplate operation, to CREO Inc. for an aggregate price of approximately US$19.2 million in an all cash transaction. All of Spectratech International’s manufacturing and field sales employees will transition with this arrangement. Spectratech International's parent company, Southern Lithoplate, Inc. Board of Directors approved the sale of these assets,” said Edward A. Casson, III, Chairman & CEO.
Spectratech International is a wholly owned subsidiary of Southern Lithoplate, Inc., a North Carolina corporation. Southern Lithoplate specializes in the manufacture, distribution, and service of analog and digital lithoplates and associated products for targeted print markets. Southern Lithoplate enjoys a leadership reputation for Quality, Value & Performance throughout the world. Southern provides their customer markets a full array of high-quality value-priced products. Southern Lithoplate’s infrastructure is designed to exceed the needs of their customer markets. Their state-of-the-art manufacturing facilities are located near the world-renowned Research Triangle Park in North Carolina USA.
Southern Lithoplate is based in Wake Forest, North Carolina, www.slp.com.
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