"Forming a solid, customer-oriented printing-solutions company."
The U.S. Bankruptcy Court has approved Presstek's bid to acquire the A.B. Dick Company. A.B. Dick filed for Chapter 11 bankruptcy protection in July 2004, and Presstek entered into an asset-purchase agreement in which it would acquire A.B. Dick's business and assets through U.S. Bankruptcy Code Section 363 asset-sale provisions. Presstek's bid was valued at approximately $40 million.
"As we work to integrate Presstek's high-technology business with A.B. Dick's market-leading organization, our goal will be to form a solid, customer-oriented, printing-solutions company," says Edward J. Marino, Presstek president and CEO. "We are looking forward to a bright future together delivering valuable solutions to our customers to help their businesses prosper." (Presstek: www.presstek.com; A.B. Dick: www.abdick.com)