Creo and Xerox Sign Major Contracts Establishing Long-term Strategic Relationship.High-Tech Writers VANCOUVER, British Columbia--(BUSINESS WIRE)--Dec. 17, 2002 Creo Inc. (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 :CREO) (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :CRE CRE Commercial Real Estate CRE Corporate Real Estate CRE Commission for Racial Equality (Scotland) CRE CCD (Charge Coupled Device) and Readout Electronics CRE Camp Response Element ) and Xerox Corporation (company) XEROX Corporation - http://xerox.com/. See also XEROX PARC, XEROX Network Services. (NYSE NYSE See: New York Stock Exchange :XRX XRX Xerox Corporation (stock symbol) ) have signed a contract, under which Xerox will purchase Spire(TM) color servers from Creo for a period of five years, for sale with current and future Xerox high-end digital printers. The agreement expands and strengthens the two companies' relationship, establishing a long-term strategic partnership. Recognized by Xerox as a 'strategic vendor', Creo will continue to devote resources to the ongoing development of advanced color server technologies and workflow, and is committed to supporting Xerox customer satisfaction initiatives. Spire Color Servers Drive iGen3 As a result of the new agreements, Creo is supplying Xerox with Spire color servers that are integrated with the new state-of-the-art digital printer from Xerox, the DocuColor(R) iGen3 digital production press. Offering unmatched print speed, image quality, cost-effectiveness and paper-handling capabilities, the DocuColor iGen3 color press and the Spire color server are already installed at customer sites in Europe and North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . Print jobs produced on the DocuColor iGen3 have also won awards from industry associations. Developing the Market "The commitment by Xerox to partner with Creo is of critical importance to its ongoing efforts to gain market share among commercial printers, who are a prime target for the Xerox DocuColor iGen3," said Ron Gilboa, director, CAP Ventures. "Our research shows that 46 percent of the print volume for devices such as the DocuColor iGen3, are pages that are transferred from offset presses. Partnering with Creo has helped Xerox meet the needs of these commercial printers and other print service providers." Delivering Value "The Creo Spire color server has helped us deliver a great deal of value to our customers in the graphic arts graphic arts: see aquatint; drawing; drypoint; engraving; etching; illustration; linoleum block printing; lithography; mezzotint; niello; pastel; poster; silk-screen printing; silhouette; silverpoint; sketch; stencil; woodcut and wood engraving. industry," said Anthony Federico, senior vice president, Development, Xerox Document Systems and Solutions Group. "We are committed to providing our customers with the best workflow solutions available." "We are very pleased with the evolving relationship between Creo and Xerox," said Amos Michelson, chief executive officer, Creo. "We consider Xerox a very important customer. Our stronger collaboration brings added value Added value in financial analysis of shares is to be distinguished from value added. Used as a measure of shareholder value, calculated using the formula:
As part of the agreement, Xerox and Creo will cooperate in joint marketing initiatives and solutions that streamline the production process. Creo and Xerox lead the digital print market with an established line of successful solutions based on Creo Spire color servers and the Xerox DocuColor 2000 series. About Xerox Xerox Corporation offers an array of innovative document solutions, services and systems-including color and black-and-white printers, digital presses, multifunction devices and digital copiers-designed for offices and production-printing environments. It also offers associated supplies, software and support. Xerox is the world leader in variable information printing, digital color production printing, print on-demand and cut sheet transactional printing. About Creo Creo is a world leader in solutions for the graphic arts industry. Core product lines include image capture systems; inkjet proofers; thermal imaging devices for films, plates and proofs; professional color and copydot scanning systems; and workflow management software. Creo is also an Original Equipment Manufacture supplier of on-press imaging technology, components for digital presses, and color servers for high-speed, print-on-demand digital printers. Creo trades under the symbols CREO on NASDAQ and CRE on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. . www.creo.com. (C) 2002 Creo Inc. The Creo product names mentioned in this document are trademarks or service marks of Creo Inc. and may be registered in certain jurisdictions. Other company and brand, product and service names are for identification purposes only and may be trademarks or registered trademarks of their respective holders. Data is subject to change without notice. This release may contain forward-looking statements within the meaning of the "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " provisions of the U.S. Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These statements are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties are described under the caption "Information Regarding Forward-looking Statements" and elsewhere in our Annual Report for the fiscal year ended September 30, 2001, as filed with the U.S. Securities and Exchange Commission and which are incorporated herein by reference. We do not assume any obligation to update the forward-looking information contained in this press release. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion