Standard Register: International Reach with Labels Joint Venture in Mexico
Press release from the issuing company
DAYTON, Ohio--May 20, 2002--Standard Register announces it has established a label-production operation in Monterrey, Mexico, in cooperation with Calidata, S.A. de C.V., Mexico City, Mexico, a leading Latin American forms and secure print provider.
The company formed in the joint venture, Label Solutions, S.A. de C.V., produces compliance identification, packaging labels and product identification for air conditioners, appliances, construction equipment, and other products.
"Our joint venture in Mexico provides us another platform for growth and strengthens our ability to meet customer needs for identification solutions on a global basis," said Standard Register Chief Executive Officer Dennis Rediker.
In exchange for a 40-percent equity share of the new company, Standard Register is providing exclusive rights for Calidata tomanufacture and sell Standard Register proprietary label solutions in Mexico; a business plan for manufacturing and marketing these products; all production center equipment required for front office, preparation, production, and bindery operations; on-site personnel and expertise required for full implementation of this equipment; and a six-month commitment to manage the startup of the new label production center.
"For more than two decades Calidata has been a member of Standard Register's GlobalPrint Network. We have had a very successful association in document management and are proud to be Standard Register's partner in the development of the label business in Mexico," said Calidata Chief Executive Officer Francisco Simon Galindo. "The expertise and know-how that Standard Register brings, combined with the local facilities and dedicated workforce in Monterrey, will prove a very successful formula."
Brian Berg, Corporate Director of Standard Register's International Business Unit, sees strong potential in this partnership.
"We have the technical and production resources, and Calidata has a strong customer base, sales and marketing infrastructure, and the knowledge of the local business culture to ensure our mutual success," said Berg.
Calidata is the leading provider of forms and secure print solutions in Mexico.
"Having strong relationships with a range of large multinational companies and the top banks in the country, we are in an ideal position to leverage our existing customer base to sell a range of label solutions," said Galindo.
Also, many of Standard Register's customers have a global presence. Among Standard Register customers are Fortune 2000 companies in financial services, healthcare, manufacturing and other markets.
"The joint venture, along with our GlobalPrint Network, helps us to provide solutions internationally to our customers," Rediker said. "To further extend our reach globally, we have additional initiatives underway in Europe, Asia and the Americas. Geographic expansion along with acquisitions and a focus on fast-growing markets will contribute to Standard Register's long-term growth and value creation. We are energized by the opportunities before us."
Through its GlobalPrint Network, Standard Register licenses its know-how, technology and support to 20 member companies covering over 40 countries. The network is designed to provide service, technology and best-in-class document management to customers worldwide through a strong network of partner companies.
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