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CreoScitex to change its name to Creo Inc.

Nov 19, 2001 12:00 AM

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Creo Products Inc. (Vancouver, BC) will consolidate all of the company's activities and businesses under one brand name and logo: Creo. Beginning in January 2002, the change will phase out the use of the name CreoScitex, which currently designates the operating division of the company that is focused on the graphic arts. In addition, the Creo logo will be updated and the company will seek shareholder approval at its next Annual general meeting to change its legal name from Creo Products Inc. to Creo Inc.

"Uniting all worldwide activities under the Creo brand will clarify the structure of our operations and eliminate any confusion with other brand names," said CEO Amos Michelson. "We are proud of what we have accomplished since integrating the prepress assets of Scitex Corp. Ltd. in April 2000 under the CreoScitex banner. Our ability to consolidate under the Creo brand less than two years later indicates the success of that integration process," he continued. "Moving forward, we will put all our energies into ensuring that Creo continues to provide customers with the most innovative products and services at the best value in the industry." Nurturing a strong Creo brand will also establish a solid platform for the company's future growth into new markets.

The new Creo logo will be introduced in January 2002. "We have grown to become a global company with a broader product line; more extensive interests; and a larger, more diverse group of people that contributes to our success," said Michelson. "We hope to convey the spirit of this evolution by introducing the new logo and by broadening the scope of our company name."

The company name change will not impact the product line currently offered by CreoScitex, although products will be re-badged with the Creo name. Additional information about legal name changes to subsidiary organizations will be available in the coming weeks. Any current agreements between CreoScitex and customers, investors, partners, and suppliers will remain in force under the new name. Creo will continue to trade under the symbols CREO on NASDAQ and CRE on the Toronto Stock Exchange.