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Polestar Invests Over 40M Euro at Drupa

Press release from the issuing company

May 13, 2004 -- Polestar's True North Project Team has placed orders and signed contracts worth over €40 million at DRUPA; With the exception of some finishing equipment, this expenditure concludes the Group's initial investment in technology for its new Greenfield gravure plant; Metso, Grafikontrol, Faist Anlagenbau, and Spengler Electronic AG have been chosen to supply the new factory with automated reel-handling, press register control systems, acoustics and electro static assist systems respectively; Third gravure press ordered from Cerutti, with Dr Cerutti and Polestar Chief Executive Barry Hibbert signing the contract on the Cerutti stand; Contracts also signed with its chosen solvent recovery partner Donau Carbon Siri SpA and pre-press supplier Kasper Walter. Solvent recovery plant increased to 720,000 cubic metres of air per hour; a third Hell K6 engraver ordered to bring engraving capacity at the plant up to 378 cylinders per week. In addition to this investment, the Group has ordered three Unidrum gatherer-stitcher systems from Ferag, bringing the total ordered by the Group to nine. The first line is currently being installed at Polestar Petty, while this latest trio is destined for the new plant. Four RollStream lines have also been ordered. Project Director Mike Young says: "The show has given us an ideal platform to compare suppliers side by side and finalise our decisions. Confirming the order for the third press has also enabled us to discuss our additional requirements simultaneously with our new partners. These orders have been placed on both the provision of technology that will match the high productivity levels of the plant and value for money."