X-Rite Acquires Leading German Developer of Color & Light Measurement Systems; X-Rite Establishes R&D and Manufacturing Site Outside of the U.S.Business Editors GRANDVILLE, Mich.--(BUSINESS WIRE)--Sept. 14, 2000 X-Rite, Incorporated (Nasdaq:XRIT), a leading global provider of technology solutions that measure color and light, today announced that it has acquired the assets of Optronik GmbH, an important German provider of color not of the white race; - commonly meaning, esp. in the United States, of negro blood, pure or mixed. See also: Color and light measurement instrumentation and software. The terms of the acquisition were not disclosed. Headquartered in Berlin, Germany, Optronik GmbH was founded in 1968 by Dr-Ing. Johannes Fleischer, the company's sole shareholder and managing director. Dr. Fleischer will remain with the company for the foreseeable future, overseeing research and development, and the respected Optronik name will be retained. The company's strength is on-line color and light measurement. The non-contact, on-line color technology is applied to web based Coming from a Web server. See Web application. processes. The light measurement product line precisely measures the light output of the most sophisticated high-intensity discharge (HID) lamps produced today. In addition, they have a line of laboratory products, including integrating sphere systems for light measurement. The company holds twelve European patents and had sales of 5.8 million DM in 1999, or $2.6 million U.S. dollars at current exchange rates. This establishes X-Rite's first research and development site in Europe. In addition, the manufacturing capability of Optronik will provide X-Rite with an ability to manufacture in Europe, which provides 20 percent of X-Rite total revenues. "This acquisition is a perfect fit for X-Rite," according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Rich Cook, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of X-Rite, Incorporated. "Optronik's on-line color measurement systems immediately provide new market opportunities with many global customers. And, we now have two new technologies, non-contact measurement for web based processes and goniometry goniometry /go·ni·om·e·try/ (go?ne-om´e-tre) the measurement of angles, particularly those of range of motion of a joint. goniometry the measurement of range of motion in a joint. for light measurement. Finally, we can now develop and manufacture on two continents. As much of Optronik's sales are in Germany, we expect to leverage our worldwide distribution network, selling their products globally." This release may contain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of the 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. Actual results may differ materially from those projected in the forward-looking statements, due to a variety of factors, some of which may be beyond the control of the company. About Optronik Optronik GmbH is one of the leading European producers of color and light measurement equipment. Optronik products are developed and manufactured in Berlin with the highest regard to precision, dependability dependability - software reliability , speed, and user-friendliness. For more information, contact Optronik GmbH: Kaiserin-Augusta-Allee 16-24, D-10553 Berlin - Germany; Telephone +49 30-34 99 41- 0; Fax +49 30-345 50 54; http://www.optronik.de. About X-Rite X-Rite, Incorporated is a world-leader in producing sophisticated measurement devices, systems, and processes. Many large, multi-national firms use X-Rite's products and services for a variety of applications including corporate branding Corporate branding is the practice of using a company's name as a product brand name. It is an attempt to leverage corporate brand equity to create product brand recognition. It is a type of family branding or umbrella brand. , medical diagnostics, and image reproduction. Sales and service offices throughout Europe, Asia and the Americas support the company's North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. manufacturing, research & development facilities. For more information, contact X-Rite, Incorporated: 3100 44th Street, S.W., Grandville, Mich., 49418, USA; Telephone (616) 534-7663; Fax (616) 534-9212; http://www.x-rite.com; or X-Rite GmbH, Stollwerckstr.32 D-51149 Koln - Germany; Telephone +49 2203 91450; Fax +49 2203 914519. All product and service names are trademarks or registered trademarks of their respective owners. |
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