DCP Acquisition Provides Strong Benefits for Commercial Printers
Press release from the issuing company
SANTA ANA, Calif.--March 29, 2004-- DIGITAL COLOR PRINT, INC. ("DCP") - announced today that it has received the approval of over eighty percent of the Company's shareholders and the unanimous consent of the board of directors to establish an ultimate public market for DCP shareholders by consenting to be acquired by MediatelevisionTV, Inc., a Delaware corporation. MediatelevisionTV, Inc. will change its name to Digital Color Print, Inc. and will apply to have its trading symbol changed from MTVI to a symbol more representative of the new commercial printing business. The current management of DCP will be the new management of the company and the total business activities will be DCP's current operations.
DCP was formed in October 2002 to acquire its operating entity, LOGICAL IMAGING SOLUTIONS, INC. ("LIS"), a Santa Ana, California based developer of high-speed printing systems and supplies that are used on conventional printing presses, with approximately seventy (70) systems installed worldwide. The new corporation will retain the name of Digital Color Print, be headquartered in Santa Ana, CA and operate through its wholly owned subsidiary LIS, which will continue to develop the best in imaging materials and digital printing technologies.
LIS, founded in 1994, is committed to the development and production of digital high-speed commercial printing systems that mount directly on virtually any web printing press. These systems augment the capabilities of existing printing presses by providing the ability to print variable data such as barcodes, numbers, graphics and images in line with the conventional offset printing task at rates in excess of 400 pages-per-minute. This "Print-on-Demand" capability, a buzzword in the printing industry, permits the commercial real-time printing of any document regardless of the print job's size; from hundreds to millions of pages.
LIS's goal is to become a major supplier of equipment, software and supplies for the commercial printer. Printing is America's third largest manufacturing industry, employing more than 1.2 million people in almost 46,000 establishments, producing over $165 billion of printed product and purchasing $4.5 billion of hardware and $7.7 billion of consumable products during 2003.
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