Creo acquires U.S. plate-manufacturing facility

Feb 18, 2004 12:00 PM, AP staff

Creo Inc. (Vancouver, BC) has announced the acquisition of a printing plate manufacturing facility in Middleway, WV from Spectratech International, Inc. Spectratech’s assets, including current plate business, land, manufacturing equipment, factory and storage were purchased for approximately $13.3 million. Creo purchased the company’s working capital, including inventory and accounts receivable, for an additional $6 million. The acquisition more than doubles Creo’s previous manufacturing capacity.

Creo plans to introduce two negative thermal plates based on the acquired plate technology--the Fortis PN for the newspaper market and the Mirus PN for the commercial and packaging market. The Mirus is high-resolution, UV- and IR-sensitive, scratch-resistant and qualified for Staccato 10 screening. It is reportedly suitable for runs of up to 250,000 impressions unbaked and up to one million impressions post-baked. The Mirus will be available in sizes up to 59 x 82 inches. For more information on Creo’s negative thermal plates, visit www.creo.com/plates.

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