Product category:
Printing Pre-Press Systems and Materials (Repro, Platemakers, CTP, Workflow, Document Management, Design Software, etc.)
News Release from: Presstek Inc
Edited by the Printingtalk Editorial
Team on 08 November 2004
Presstek Complete A B Dick Acquistion in
USA
Presstek announced the approval of its bid to acquire A B Dick.
Presstek announced the approval of its bid to acquire A B Dick In July 2004, A B Dick filed for Chapter 11 bankruptcy protection in the USA
This article was originally published on Printingtalk on 18 Mar 2003 at 8.00am (UK)
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At the same time, Presstek entered into an asset purchase agreement with A B Dick pursuant to which Presstek would acquire A B Dick's business and assets through US Bankruptcy Code Section 363 asset sale provisions.
Presstek's chief financial officer Moosa E Moosa said: "Presstek's bid, valued at approximately $40 million, was accepted by A B Dick and approved by the US Bankruptcy Court today.
The transaction is expected to close on November 5." Presstek's president and chief executive officer Edward J Marino said: "We are delighted that our bid for A B Dick has been successful.
A B Dick is a company with a solid reputation and long tradition of service and support to its customers.
As we work to integrate Presstek's high technology business with A B Dick's market leading organisation, our goal will be to form a solid customer-oriented, printing-solutions company.
We are looking forward to a bright future together delivering valuable solutions to our customers to help their businesses prosper.".
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