Oce Acquires Azon Assets from Precision Paper Company
Transaction Includes Product Inventory, Converting, and Distribution Equipment for AzonColor(R), Comstoc(R), and Reprographic Classic(TM) Brands Imaging Supplies in Western U.S. Markets
CHICAGO, Jan. 20 /PRNewswire-FirstCall/ -- Oce (NASDAQ:OCENY), a global leader in digital document management and delivery solutions, today announced the acquisition of assets associated with two converting and distribution facilities in Arlington, TX and Torrance, CA. These assets were purchased from Precision Paper Company, a supplier of printing substrates to the reprographic industry throughout the southeastern United States.
Precision Paper recently purchased these assets from InteliCoat Technologies as part of a larger transaction in which InteliCoat divested their reprographic business, primarily known for the Azon(R) branded product line. Precision Paper, in turn, sold the interests in Arlington, TX and Torrance, CA to Oce. Financial details were not disclosed.
Through its Oce Imaging Supplies division, Oce will serve the former InteliCoat reprographic customers who purchased the AzonColor, Comstoc, and Reprographic Classic brands of supplies for reprographic and computer-aided design (CAD) printing applications.
Former Azon brand customers will be served through the current Oce sales and distribution network, effective immediately. Current Azon phone and fax numbers will remain in place for the next four weeks. A chart providing equivalent Oce products for over 200 Azon products is available at
http://www.oceusa.com/azonproducts
About Oce
Oce is a leading provider of digital document management technology and services. The company's solutions are based on Oce's advanced software applications that deliver documents and data over internal networks and the Internet to printing devices and archives -- locally and around the world. Supporting the workflow solutions are Oce digital printers and scanners, considered the most reliable and productive in the world. Oce also offers a wide range of display graphics, consulting and outsourcing solutions.
Netherlands-based Oce N.V. (NASDAQ:OCENY), with a workforce of more than 21,500 people and 2004 revenues of $3.3 billion, maintains research and manufacturing centers in the Netherlands, the United States, Germany, France, Belgium, the Czech Republic, and Japan. Oce's North American headquarters is located in Chicago with major business units in Chicago; New York City; Boca Raton, FL; Vancouver, BC; Salt Lake City; and Coventry, RI. North American revenues were $1.2 billion for fiscal 2004, and employment is currently 9,100.
