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Dec 13, 2001 12:00 AM
Kodak Polychrome Graphics (KPG) (Norwalk, CT) has announced its intention to acquire the business assets of Tech Services International L.P. (TSI), a provider of technical service and support for print industry technologies. The new company, a wholly owned subsidiary of KPG, will be headquartered in Kennett Square, Pennsylvania.
KPG will maintain TSI as a separate company but will combine the technical and logistical strengths of both organizations. Following completion of the transaction, KPG service organization employees will become employees of TSI. TSI will be a single source for technical services, including contract and demand on-site services, spare parts and logistics, applications, and color management support.
Tom Faughnan, president and CEO of TSI, will continue with TSI as president, reporting directly to Andrew Copley, president of KPG, U.S. and Canada region. Copley, in turn, will assume the title of chairman and CEO of TSI after the acquisition.
"Acquiring TSI represents an important next-step forward in our effort to enhance our service capabilities in the U.S. and Canada. Globally, it represents a part of our strategy to meet customer needs on a regional basis," says Jeff Jacobson, KPG CEO.
The transaction is expected to be complete by the end of 2001. Both companies will continue to operate as separate organizations until after the agreement is finalized.