Lexmark opens first Asian inkjet manufacturing plant in the Philippines.Business EditorsLAPU-LAPU CITY The City of Lapu-Lapu is a 1st class highly-urbanized city in the province of Cebu, Philippines. The city occupies most of Mactan Island, just one kilometer southeast from the island of Cebu, and also covers the whole of Olango Island five kilometers further to the southeast plus , CEBU, Philippines--(BUSINESS WIRE)--Jan. 11, 2000 Lexmark International, Inc. today officially opened its new production facility on the island of Cebu in the Philippines. The new plant, which began operations in the fourth quarter of 1999, is Lexmark's first inkjet manufacturing site in Asia and will serve as the primary source and distribution point for the rapidly growing Asia Pacific market and other regions around the world. "As printer demands continue to increase, we clearly must grow to meet the needs and demands of our customers," said Bernard Ber·nard , Claude 1813-1878. French physiologist noted for his study of the digestive and nervous systems. Masson, Lexmark's executive vice president and president of the company's Consumer Printer Division. "The new plant is important strategically to the future success of Lexmark in the rapidly-growing inkjet printer 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. category." Situated in the Mactan Export Processing Zone II in Basak, Lapu-Lapu City, the state-of-the-art facility is expected to create hundreds of new jobs by the end of 2000. A strategic location with reach throughout Asia, the Cebu site is also notable for its international airport and access to major shipping ports nearby. "We chose to build this new plant in the Philippines because of its dedicated, skilled and highly-motivated workforce, the economic stability of the Philippines and the fact that its government was supportive and understood the potential this investment represents," Masson said. Lexmark International, Inc. is a global developer, manufacturer and supplier of printing solutions and products, including laser, inkjet and dot matrix printers A printer that uses hammers and a ribbon to form images out of dots. It is widely used to print multipart forms and address labels. Also known as a "serial dot matrix printer," the tractor and sprocket mechanism in these devices handles thicker media better than laser and inkjet printers. and associated consumable A material that is used up and needs continuous replenishment, such as paper and toner. "The low-tech end of the high-tech field!" supplies for the office and home markets. The company is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Lexmark International Group, Inc. (NYSE NYSE See: New York Stock Exchange :LXK). Lexmark is on the Internet at www.lexmark.com. Lexmark is a trademark of Lexmark International, Inc., registered in the U.S. and/or other countries. All other trademarks are the property of their respective holders. |
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