Five NexPress 2100 Presses Sold to the Principal Financial Group
Press release from the issuing company
ROCHESTER, N.Y.--(Apr 22, 2004) - NexPress Solutions LLC announced today the sale of five NexPress 2100 digital production color presses to The Principal Financial Group, headquartered in Des Moines, Iowa, the leading 401(k) administrative service provider in the U.S. The Principal is using the five presses to meet its growing transactional printing needs.
The NexPress comprehensive solution, which includes five NexPress 2100 digital production color presses, software and professional consulting services, is enabling The Principal Financial Group to produce a broad range of financial statements and collateral materials.
Print applications being produced range from full-color benefit statements for some six million 401(k) plan participants, to brochures, posters, booklets and booklet covers and mailing inserts. The 401(k) statements feature customized account information, including investment performance and allocations.
The Principal Financial Group, which installed two presses at the end of 2003 and three more in March, now owns more NexPress 2100 devices than any other single user worldwide. The company expects to produce annual print volumes of more than 30 million impressions.
According to Tom Reed, director of document services at the Principal Financial Group, the NexPress 2100 offering was chosen because of its uptime, image quality and the flexibility for the company to control its own costs through such features as the operator replaceable components (ORCs).
"We're very pleased that our customers will benefit from the devices, which will quickly deliver full-color financial statements with customized information," Reed said.
"NexPress is extremely proud of the success that The Principal Financial Group has achieved in a very short time," said Venkat Purushotham, NexPress Solutions LLC President and CEO. "That the company has become the largest single purchaser of our devices is a testament to our ability to offer fully customized workflow solutions that meet the needs of individual businesses -- including the high-end transactional demands of one of the world's leading financial companies."
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