Clal, Discount buy International Paper's Stake in Scitex.HERZLIA, Israel--(BUSINESS WIRE)--Nov. 10, 1999-- Scitex Corporation Ltd. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :SCIX) announced today that three of its principal shareholders, Clal Electronics Industries Ltd. ("Clal"), Discount Investment Corporation Ltd. ("DIC DIC diffuse intravascular coagulation; disseminated intravascular coagulation. DIC abbr. disseminated intravascular coagulation Disseminated intravascular coagulation (DIC) ") and PEC Peć (pĕch), Albanian Peja, town (1991 pop. 68,163), S Serbia, in the Kosovo region. A trade center, it has industries that produce leather goods, foodstuffs, and handicrafts. Israel Economic Corporation ("PEC") have agreed to purchase all of the shares currently held by International Paper Company in Scitex. Pursuant to the agreement, signed on November 9, 1999, between Clal, DIC and PEC, Clal will purchase 2,834,825 shares, and DIC and PEC (now a wholly-owned subsidiary of DIC) together will purchase 2,834,825 shares of Scitex. The purchase price will be $14 per share, resulting in an aggregate sum of nearly $80 million payable for International Paper's 13.3% holding in Scitex. Following the transaction, Clal's interest in Scitex will increase to approximately 19.7% and DIC's interest in Scitex (both directly and through PEC) will increase to approximately 19.9%. Together, both companies will hold approximately 39.6% of the issued shares of Scitex. Scitex Corporation Ltd., a world leader in digital imaging solutions for graphics communications, designs, develops, manufactures, markets and supports products, systems and devices primarily for the digital preprint pre·print n. Something printed and often distributed in partial or preliminary form in advance of official publication: a preprint of a scientific article. tr.v. and digital printing markets. Digital preprint includes image capture, output, proofing, and telecommunication solutions. Digital printing includes Scitex Digital Printing's very high-speed inkjet printers A printer that propels droplets of ink directly onto the medium. Today, almost all inkjet printers produce color. Low-end inkjets use three ink colors (cyan, magenta and yellow), but produce a composite black that is often muddy. for variable long-run printing, wide format inkjet printers, Karat's digital offset presses, and the Company's print-on-demand digital front ends. A worldwide network of direct sales and service offices, dealers, resellers and OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and partners provide global sales and customer support. Scitex shares trade on NASDAQ under the symbol SCIX. For more information visit the Company's Internet site: www.scitex.com Scitex and the Scitex logo are registered trademarks and service marks of Scitex Corporation Ltd. and/or Scitex Europe S Europe (y  r`əp), 6th largest continent, c.4,000,000 sq mi (10,360,000 sq km) including adjacent islands (1992 est. pop. 512,000,000). .A.
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