This Issue's Large Format Headlines - InfoTrends

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This Issue's Large Format Headlines - InfoTrends

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Visual Communications Technologies Consulting

Service

January 31, 2005

This Issue’s Large Format Headlines

Products & Services....................................................................... 3

Amplis Foto Expands Digital Offerings with Hahnemühle FineArt Paper Products...3

Brightec Adds 12'' X 18'' Format Photo-Quality Glow-in-the-Dark Paper for Holiday

Season .....................................................................................................................3

Canon Announces imagePROGRAF W8400, W6400, and W2200S Large Format

Printers in Japan.......................................................................................................3

Digifab Systems Announces Evolution Graphics Rip for Large Format Printers.......4

Océ Announces First U.K. Installation of Arizona 600 Wide-Format Printer.............4

Océ Announces U.S. Availability of CS6060 Large Format Inkjet Printer.................5

Océ Introduces TDS800 Pro Series Wide Format Printing System ..........................5

Oki Data Americas Introduces Color Signage Solution ............................................6

Paradigm Imaging Group Launches Six New Large Format Scanners from Western

Graphtec...................................................................................................................6

Sericol Introduces Color+ Digital Ink Systems..........................................................7

Wasatch Announces Release of SoftRIP Light Version 5.1.2...................................7

Acquisitions & Alliances................................................................ 8

Allegra Network to Acquire Signs Now Corporation .................................................8

Fuji Photo Film Announces Acquisition of Sericol Group..........................................8

Distribution...................................................................................... 9

Fuji Hunt Now Distributing Epson/Fujifilm Large Format Printers.............................9

Xaar Signs Triangle Digital as First Ink Partner in India ...........................................9

Financial .......................................................................................... 9

3M Reports Fourth Quarter and Year-End Results...................................................9

Avery Dennison Reports Fourth Quarter Results ...................................................10

DuPont Reports Fourth Quarter and Full-Year 2004 Results .................................11

Inspire Investments Ltd to Invest $10 Million in NUR Macroprinters.......................12

Kodak Reports Fourth Quarter Results ..................................................................13

Xerox Reports Fourth Quarter Results ...................................................................14

Miscellaneous ............................................................................... 15

AccessVia Implements Web dSignShop in 350 Bell Canada Stores ......................15

Big 5 Sporting Goods Deploys AccessVia Web dSignShop in 300 Stores .............16

Printer's Cove Launches Wide Format Business with New Scitex Vision GOjet

Press ......................................................................................................................16

Tiara Group Debuts Specialty Papers & Media 2005 .............................................16

U.S. Military Implements AccessVia Printing Solution In Base Stores and Mobile

Field Units ..............................................................................................................17

VUTEk Announces Installation of PressVu 180/600 EC at Palladeo ......................18

VUTEk PressVu UV 200/600 Used to Print Graphics for Worldwide Launch of Dior

Perfume..................................................................................................................18

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Organization & Personnel ........................................................................................................18

Agfa Appoints Anne Vleminckx as Chief Financial Officer ...........................................................................................18

Frank Romano Pays Tribute to Michael H. Bruno........................................................................................................19

HP Names Steve Smith Senior Vice President of Managed Services..........................................................................19

InfoTrends/CAP Ventures Appoints Sophie Matthews-Paul as Consulting Associate..................................................20

Kodak Appoints Mary Jane Hellyar as Senior Vice President ......................................................................................20

Kodak Appoints William J. Lloyd as Chief Technical Officer and Director of R&D .......................................................20

Océ Appoints Bill Pugh as Vice President of North American Operations ...................................................................21

Scitex Vision Appoints Clay Mizelle as District Sales Manager for Ohio Valley Region ...............................................21

Scitex Vision Appoints Steve Vanderburg as District Sales Manager of Southeastern U.S. Screen Market................21

VUTEk Appoints New European Managing Director....................................................................................................22

Page 2 www.capv.com © InfoTrends/CAP Ventures, January 31, 2005


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Products & Services

Amplis Foto Expands Digital Offerings with Hahnemühle FineArt Paper Products

Amplis Foto, Inc. announced that it is the new Canadian distributor for Hahnemühle FineArt Paper and Lumijet Inkjet

Media and Ink Delivery Systems. Hahnemühle FineArt Paper offers 12 high-quality, acid free digital inkjet paper

grades for printing and reproducing artwork and photographs. The range offers a wide choice of textures, surfaces,

and color, with various cut sheet and roll sizes. The papers have high-quality light and age resistance, and are made

with a special coating for inkjet printing to provide consistent color accuracy and maximum dot gain control. The

coatings work well with thermal and piezo technology and with dye and pigmented inks. Hahnemühle Certificates of

Authenticity are a new tool for artists and photographers to protect their images and market themselves. End-users

publicly register the authenticity of their work on forgery-proof certificates via Hahnemühle's proprietary Web service

which is offered at no charge.

Lumijet Inkjet Paper includes six newly launched Preservation Series papers that are optimized for pigmented inks

and eight papers within the Portfolio Series that are designed for commercial photographic applications, student

proofing, and the production of photographic presentation portfolios Lumijet Ink Delivery Systems eliminate the need

to purchase OEM cartridges while saving over 70% in ink costs. The three products available include Lumiflo

Standard EP (direct OEM replacement), Lumiflo Monochrome Plus (black & white inks), and Renaissance Ink

Delivery System (bulk feed system). All products are designed specifically for the Epson 2200 and the entire range of

Epson wide-format printers. Source: PM Newsline

Brightec Adds 12'' X 18'' Format Photo-Quality Glow-in-the-Dark Paper for Holiday

Season

Brightec announced that a 12" x 18" inkjet photo format is available for purchase online. This size provides another

option for holiday crafters and those with wide-format printers to create imaginative projects and images of large

sizes. A pack of five sheets is priced at $39.95 plus shipping, handling, and any applicable taxes. Brightec already

offers packs of five 8.5" x 11" papers and ten 4" x 6" papers for $19.95 and $9.95 respectively, plus shipping,

handling, and any applicable taxes. Consumers can purchase all three formats online at www.brightec.com.

Images on the Brightec medium appear normal in conventional light but glow with full photographic detail in low light

or darkness. Brightec works with most inkjet printers. For information on printing tips and seasonal craft ideas, visit

the Brightec Web site.

Canon Announces imagePROGRAF W8400, W6400, and W2200S Large Format Printers in

Japan

Canon announced the introduction to the Japanese market of three new large format inkjet color graphics printers

from the company’s imagePROGRAF series: the B0+ Canon imagePROGRAF W8400, the A1+ W6400, and the A3+

W2200S.

The new B0+ (44”/1,117.6 mm) Canon imagePROGRAF W8400 and A1+ (24”/609.6 mm) W6400 continue the

tradition of the imagePROGRAF series, combining high output speeds with high image quality. Also realizing

substantial enhancements in basic performance, the new models satisfy the full range of large format printing needs.

Featuring a new one-inch-wide high-density printhead, the W8400 and W6400 produce microscopic 4-picoliter

droplets for high-quality images that are free from graininess. Also, employing 7,680 tiny ink nozzles (1,280 for each

of the six colors), the printhead enables the W8400 to achieve print speeds of up to around 2.2 minutes per page

when producing A0 size output, and both models to produce A1 output in around 1.3 minutes per page. In addition,

Canon’s new high-intensity yellow ink makes possible a wider color range and increased color intensity, while a new

image processor enhances image quality for the production of brighter photos and sharper point-of-purchase posters

and materials.

Employing Canon’s proprietary Pg pigment-based inks, the W8400 and W6400 printers realize output with light

fastness, water resistance, and color stability, while also achieving color performance and gradation to rival dyebased-ink

systems. The models also offer two interchangeable black inks—photo black and matte black—to enable

printing on a wide variety of media. While photo black offers enhanced depth when printing on glossy media

commonly used for photos, magazines, posters, and proofs, matte black enables users to achieve sharp, solid blacks

© InfoTrends/CAP Ventures, January 31, 2005 www.capv.com Page 3


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when printing on matte media commonly used for art, newspaper proofs, and CAD (Computer Aided Design)

applications.

Canon’s imagePROGRAF W8400 and W6400 large format printers enable users to produce high-impact borderless

prints in a wide range of formats, including photo-industry standard sizes 10” x 11” and 8” x 10” and common poster

sizes B2 and A1, as well as A0 and B0 for the W8400. Also, in addition to a new printer driver that realizes vastly

improved usability, the new printers offer increased compatibility with industry-standard software, featuring an output

plugin for Adobe Photoshop, and HDI drivers for AutoCAD and AutoCAD LT.

Further enhancing user convenience, the models come equipped with an easy poster creation function employing

Canon’s newly developed PosterArtist software. By combining the many poster templates with original data, users

can produce and print high-quality borderless posters with ease. Moreover, when used in combination with Canon’s

Digital Photo Print Pro, which enables the easy output of large format digital camera prints, and the printer driver

software, PosterArtist becomes a useful tool for small-lot poster production. The new A3+ (22”/558 mm) Canon

imagePROGRAF W2200S inherits and improves on the functionality of the W2200 released in July 2002. Equipped

with Canon’s easy poster creation function, a host of software applications, and a newly developed printer driver, the

new W2200S offers users enhanced operability and greater color adjustment control.

Pricing and availability is as follows:

• Canon imagePROGRAF W8400: ¥598,000; available in mid March 2005

• Canon imagePROGRAF W6400: ¥298,000; available in early March 2005

• Canon imagePROGRAF W2200S: ¥248,000; available in mid March 2005

Digifab Systems Announces Evolution Graphics Rip for Large Format Printers

DigiFab Systems announced the DigiFab Evolution Graphics RIP. Designers and printers who have trouble matching

output colors and printing without delay will now be able to do so, thanks to a new graphics raster image processor

(RIP) from DigiFab Systems. With variable dot control, 8-channel ink manipulation, and individual ink saturation

controls, users can customize their printing down to the most minute attribute or choose built-in color profiles for startand-go

printing. With a RIP-on-the-fly feature, the Evolution RIP begins printing as soon as the file is opened,

reducing idle time to zero. The DigiFab Systems Evolution RIP supports most major medium- and large-format

printers such as ENCAD, Epson, HP, Mimaki, and Roland.

From beginner to expert, from automated to customized, the DigiFab Evolution RIP adjusts to users' working styles.

The Evolution RIP allows users to use default setups or create multiple customized RIP configurations with hot

folders for future and automatic recall. Advanced color management, to hit those hard-to-match smooth facial tones,

the shadow highlights of a green forest, or even an orange spot color, includes RGB, CMYK, Lab, HSV, HSL,

hexachrome, and octachrome color modes and supports ICC 4.0 color profiles. An advanced interactive layout

module supports crop, resize, rotate, flip, position, and preview options to minimize ink and media waste. The DigiFab

Systems Evolution RIP accepts files created in major software packages as well as commercial design software like

Illustrator, Photoshop, and Corel.

The DigiFab Systems Evolution RIP comes with a server module and layout module with list prices ranging from $500

to $3,000. For spot color, the optional DigiFab Coloring Module lists at $2,000. Special trade-in pricing is available for

customers who currently own a competitive wide-format RIP. All products are currently shipping and are sold through

DigiFab Systems and its dealers.

Océ Announces First U.K. Installation of Arizona 600 Wide-Format Printer

On December 23, 2004, PrintWeek reported that Big Display has become the first U.K. company to invest in an Océ

Arizona 600 wide-format printer. The Newcastle-based company is using the kit to produce banners, site boards, and

interior canvases. According to Big Display Managing Director Keith Irons, the investment was made to keep up with

demand in the region.

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Océ Announces U.S. Availability of CS6060 Large Format Inkjet Printer

Océ announced that the Océ CS6060 low solvent, high performance large format inkjet printer will be available for

order in the United States and Canada beginning in January 2005. The Océ CS6060 delivers high quality 720 dpi

graphics with outdoor durability up to 3 years at production printing speeds. It uses low solvent inks that provide a

wider color gamut than traditional solvent inks for more vibrant output.

The Océ CS6060 is a 64” wide printer that offers true 720 x 720 dpi resolution at print speeds of up to 176 sq. ft. per

hour in four-pass mode. It is a six-color printer that utilizes super-wide piezo inkjet print heads, featuring 512 nozzles

per color, to deliver high print speeds. In two-pass mode, print speeds of up to 330 sq. ft. can be achieved with a

resolution of 720 x 360 dpi. The industrial-grade print heads have been designed to provide durability and reliability in

professional printing environments.

The Océ CS6060 is designed for short-run print jobs and is designed for light production environments where high

quality output and outdoor durability are required. Sample applications include point-of-purchase displays, vehicle

graphics, transit advertising, exhibit graphics, banners, museum graphics, wayfinding, and window displays.

The new Océ IJC610 series low solvent inks utilized in the Océ CS6060 offer an expanded color gamut. The super-

CMYK (black, cyan, light cyan, magenta, light magenta, and yellow) printing system ensures color accuracy and high

density and delivers rich reds and deep blacks for printing onto a wide range of uncoated media.

The specially formulated inks are cyclohexanon-free and contain lower concentrations of solvents so users will notice

significantly lower fume levels. The aggressive adhesion technology of these inks provides up to three years of

outdoor durability, lightfastness, and scratch resistance. Océ IJC610 series inks are also resistant to everyday

cleaning solutions.

The Océ CS6060 is designed for the print provider that wants to offer outdoor durability but prefers to use a low

solvent ink formulation. It complements the Océ Arizona line of large format printers that use solvent or UV-curable

inks by offering another ink formula option while delivering production speeds and high quality output.

The Océ CS6060 printer is easy to use, from the control panel to media handling and ink replacement. Quick release

adjustable media holders ease change-outs, and a secondary holder is available for heavy rolls. Dual pressure grid

rollers accommodate different media thicknesses. An optical media take-up system automatically rolls up printed

media in four user-selectable configurations: face-in or face-out, with or without slack. The one-liter ink cartridges can

be replaced on-the-fly without stopping the printer.

An adjustable vacuum system ensures media is flat as it passes across the printing platen, and edge guards prevent

curled media edges from hitting the print head. The Océ CS6060 carriage head height can be adjusted to

accommodate media from 2.7 mils to 24.8 mils thick. A fully automated head cleaning system is included that can be

selected manually or set up to automatically run at pre-set times. Three integrated heating systems are included to

quickly dry the inks. An optional external dryer is also available whenever extreme drying capacity is required.

The Océ CS6060 will be available for order in the United States and Canada beginning in January 2005. The U.S. list

price will be $32,995 for the printer only. Ink pricing will be announced at a later date. The Océ CS6060 has been

available from Océ in Europe, the Middle East, and South Africa since July 2004.

Océ Introduces TDS800 Pro Series Wide Format Printing System

Océ introduced the TDS800 Pro Series wide format printing system, which combines the quality of Océ Copy Press

with the flexibility of a highly configurable system. The new system uses the Océ Power Logic Controller, which

supports true concurrency so users can continue feeding in print, copy, and scan jobs while the system is operating.

It also uses the Océ Copy Press technology, which is an offset-like DDP (Direct Dot Positioning) technology that

ensures toner is applied exactly where it is required on the paper. There is no need to use toner recycling to be

efficient. Océ Copy Press ensures high print quality every time.

With the Océ TDS860 printer, toner bottles do not need to be changed since they are added when needed. It is also

unnecessary to clean the image corona or LED printhead. If attention is needed, the yellow light on top of the printer

provides a clearly visible alert. The imaging technology in the new system is built in a steel frame that contributes to

the weight of 939 kilograms.

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The Océ TDS800 Pro Series gives users a choice of three different print engine speeds to best meet individual

productivity needs. There is also a choice of scanner. The Océ TDS800 scanner has a 10 meter per minute scan

speed and face-up original feeding, while the Océ TDS600 scanner is a suitable alternative for smaller workloads.

The same flexibility applies to media, with a choice of two, four, or six rolls. Media rolls of 200 meters offer a total

capacity of up to 1,200 meters of continuous printing. There are also numerous finishing possibilities. The integrated

folder offers different folding modes, as well as time-saving options for punching and hanging strips. Different belt

units can be chosen to provide the required output capacity. Unfolded output is handled by the Océ Double Decker

Pro, or by the Océ Copy Delivery Tray for smaller volumes.

A range of software applications can be tuned for optimized workflow and control, ranging from Advanced Queue

Manager to Account Center and Job Templates. The Océ Settings Editor allows workflow to be optimized by setting

defaults of all system components. Workflow can be further optimized with the Océ Repro Desk print automation

software or Océ Print Exec Workgroup.

With a choice of over seven million configurations, users can select the system that best fits their needs. Printing

speed and media capacity can be upgraded if workload increases or workflow requirements change.

Oki Data Americas Introduces Color Signage Solution

Oki Data Americas, Inc. introduced its Color Signage Solution that enables retail customers to produce a full range of

professional-quality signage and materials in-store. The solution combines Oki Data's innovative software

applications, signage media, and digital color printers.

With the signage capabilities from Oki Data, retailers can generate new materials on a wide variety of media

immediately in their stores. That capability can effectively eliminate the 3- to 10-day lead time often required for hardcopy

materials to be printed outside the store and shipped.

The Color Signage Solution is based on high-end OKI digital color printers, the OKI C9300dxn and C9500dxn. These

units provide high print speeds, up to 1,200 x 1,200 dpi resolution, and an innovative print engine to offer the highest

levels of quality, performance, and value. The printers are developed with Single Pass Color and Digital LED

technology, which enhances productivity and reliability levels.

Also, with the advanced internal color matching software and ICC color profiles, the Color Signage Solution delivers

consistent color accuracy. Hard disk drives and duplex printing are standard features with the C9300dxn and

C9500dxn. Additionally, these printers are customized with special features to print a variety of signage media,

including custom OKI print drivers, special media settings to handle cling film, and specific media like 4-up labels and

enhanced media handling features through the multi-purpose tray.

As part of the Color Signage Solution, Oki Data also offers its OKI Signage Media Collection, which includes a variety

of specially developed media to support creative, profitable signage campaigns. The media collection includes

popular formats, including card stock up to 203 gsm, cling film, 4-up labels, shelf strips, table tents, and premium

gloss paper. Oki Data also offers banner paper, which at 47.4" x 12.9", is the industry's longest banner media. The

OKI Signage Media Collection, in conjunction with the Color Signage Solution, provides a significantly lower cost per

print versus typically outsourced, short print production runs. It has been thoroughly tested to ensure high-quality

when used for printing signage. Moreover, OKI is certified to handle numerous other varieties of signage media.

Paradigm Imaging Group Launches Six New Large Format Scanners from Western

Graphtec

Paradigm Imaging Group has announced six new entries into the large-format scanner field from Western Graphtec.

The new CS600, CS500, and IS200 series scanners will meet the requirements of users in the graphic arts, fine art,

photography, prepress, reprographics, sign, point of purchase, GIS, mapping, CAD, AEC, and document archiving

market segments.

With two models offered in each series, the CS600 and CS500 Series are 24-bit, full-color scanners designed for

processing photographs, complex maps, and AEC/CAD drawings, while the IS200 offers an 8-bit monochrome

alternative for those who do not currently need color capabilities. Each series includes standard or advanced Pro

models, offering users the option to initially purchase a standard version and cost-effectively upgrade to the advanced

system in future.

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The Pro models include a “high quality” scanning mode with interpolated resolution of up to 4,800 dpi, as opposed to

800 dpi for the standard models. The Pro models also incorporate a “high speed” scanning mode for quality image

output with up to 40% faster throughput than standard models at comparable resolution settings.

The CS600/CS500 color scanners and the IS200 monochrome scanners all feature maximum scanning speeds of 9

ips (monochrome) and 3 ips (8-bit, 24-bit color) when scanning at 400 dpi. In addition, CS600/CS500 Series scanners

are compatible with the new industry standard sRGB color space.

The CS600 is a 42” wide, 24-bit full color scanner with the ability to scan rigid originals up to 0.8” thick to meet

requirements in the print for pay environment and other graphics-oriented industries. The CS600 is the only scanner

of its kind that features a hands-free automatic thickness control function that automatically recognizes the thickness

of the material being scanned without any user intervention.

The IS200 series includes 42” wide monochrome scanners with 8-bit grayscale capture capability, designed for

applications that do not require color. The IS200 provides a cost-effective solution for scanning monochrome,

grayscale, and black & white drawings and documents in CAD, AEC, and other engineering and document

management applications.

The new devices are available immediately.

Sericol Introduces Color+ Digital Ink Systems

Sericol, Inc. announced the launch of Color+ Digital Ink Systems, a solvent-based piezo drop on demand ink for a

broad range of wide- and superwide-format flatbed digital presses. Color+ is specially formulated for use in roll-fed

digital presses. The pigments in Color+ stay in solution longer, eliminating the need to shake or adjust viscosity

before use. The Color+ series of inks has a range suitable for most of the makes of roll fed digital presses in the

market, including those from Océ, Mutoh, Vutek, Scitex, Nur, and Idanit. Source: PM Newsline

Wasatch Announces Release of SoftRIP Light Version 5.1.2

Wasatch Computer Technology, Inc. announced the release of Wasatch SoftRIP Light Version 5.1.2. This new

release of Wasatch SoftRIP Light includes the capability to drive two output devices simultaneously, right out of the

box. With new version 5.1.2, SoftRIP Light has twice the power of other Light RIPs on the market. Users can drive

two printers or implement print and cut workflows with the optional Contour Cutting add-on.

Wasatch SoftRIP Light is a "personal use" version of its flagship print management software. Priced at $1,595,

Wasatch SoftRIP Light allows users in low-volume production environments to produce professional quality images.

Wasatch SoftRIP Light will give individual users better control over image processing and subsequent quality than

they could obtain by printing just from an application, or using an on-board RIP. The Light version includes all of the

color quality and hardware flexibility of the flagship Wasatch SoftRIP product.

Wasatch SoftRIP Light includes 90 days of free support and a 60-day money-back guarantee. Users who upgrade to

the full SoftRIP product will receive a 100% credit for the price of SoftRIP Light.

The Contour Cutting option enables users to drive most digital cutters and print/cut inkjet plotters using cutting paths

created in popular draw applications. This product allows any type of digital graphics shop to automate the process of

creating contour cut letters and graphics. The Contour Cutting Utility is compatible with cutting plotters from

manufacturers such as Roland, Mimaki, and Graphtec.

Wasatch's Contour Cutting Utility is easy to use. Users prepare cutting files in familiar software applications such as

Adobe Illustrator, CorelDraw, or Quark Xpress and name them as spot colors. When files are output to SoftRIP, the

shape paths are automatically cut on the plotter. The Contour Cutting Utility processes complex shapes of virtually

any kind. In addition, the "Outline Jobs" feature produces rectangular trim cuts at the edges of each job in a layout.

The Contour Cutting Option can be added to SoftRIP products for a price of $250.

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Acquisitions & Alliances

Allegra Network to Acquire Signs Now Corporation

Allegra Network LLC has signed a purchase agreement to acquire the assets and franchise agreements of Signs

Now Corporation. The joint announcement was made by Allegra Network Chairman and CEO William McIntyre and

President and COO Carl Gerhardt (BIO) at the company’s headquarters in Northville, Michigan. The acquisition is

expected to close on January 31, 2005.

Founded in 1976, Allegra Network has more than 400 locations in the United States, Canada, and Japan with

system-wide sales of $265 million (2004). The company’s primary brands include Allegra Print & Imaging, American

Speedy Printing Centers, and Insty-Prints. Founded in 1983, Signs Now has more than 240 locations in the United

States, Canada, the United Kingdom, and Brazil with system-wide sales of more than $70 million (2004).

Signs Now will continue to be headquartered in Bradenton, Florida, and will become the sign division of Allegra

Network. Certain administrative functions will be moved to Allegra Network’s corporate headquarters and printing

division in Northville, Michigan, but operational support for Signs Now franchise members will continue to be provided

from Bradenton.

Fuji Photo Film Announces Acquisition of Sericol Group

Fuji Photo Film Co., Ltd. announced that it will acquire U.K.-based ink manufacturer Sericol Group. Fujifilm has

concluded an agreement to acquire Sericol at an acquisition price of approximately 123 million pounds sterling

(approximately JY24.5 billion). Through this acquisition Sericol will become a wholly-owned subsidiary of Fujifilm and

be known as FUJIFILM Sericol Limited.

Sericol is a global corporation engaged in the development, manufacturing, and sale of inks for screen and package

printing, as well as industrial inkjet inks and materials. With inks for screen printing and wide format digital UV inkjet

inks, the company maintains a market share position world wide.

Fujifilm has been involved in the development, production, and sale of film for platemaking, primarily for offset

printing, PS plates, and CTP plates for which demand is currently growing rapidly. The company has also been

involved for many years in providing various systems such as image processing software for prepress,

filmsetters/platesetters, and digital proofing as part of its global scale printing business. The acquisition will further

expand and develop the printing business, one of the core businesses of Fujifilm, as it will extend the company’s

business domain into other areas of industrial printing, which in the future are expected to grow steadily in demand.

The acquisition will also enable Fujifilm to extend its operations into industrial printing and package printing further

expanding its existing business range of commercial, publishing, and newspaper printing.

The demand for high-speed inkjet UV inks, in which Sericol has a major market share, has been growing dramatically

due to the digitalization of printing. UV ink utilizes a technology that hardens ink through its exposure to UV light,

giving it high-speed drying times that improves the productivity of printing. Also, UV inks have the ability to print on a

wide variety of materials.

Significant synergistic effects are expected from this acquisition in sales and product development. It will be possible

to establish a UV ink system that incorporates superior characteristics by combining photo-polymerization

technologies that Fujifilm has been nurturing over the years through the development of photopolymer CTP plates

and other products, as well as material technologies for raising the sensitivity levels using Sericol´s existing

technologies.

To make further headway toward new growth strategies, a key part of its medium-term management plan, Fujifilm

has been aggressively making capital and R&D investments. Fujifilm will continue to actively expand its business

through M&As, such as the purchase of Arch Chemicals’ Microelectronic Material Business and the acquisition of

Sericol Group, expanding its semiconductor processing materials business and printing business.

Fujifilm is planning to expand consolidated sales figures from the current approximation of JY240 billion to

approximately JY300 billion in four years for fiscal year 2008 through this acquisition and expansion of sales.

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Distribution

Fuji Hunt Now Distributing Epson/Fujifilm Large Format Printers

To help photo labs transition into the digital workflow, Fuji Hunt Photographic Chemicals, Inc. is now distributing the

new Epson/Fujifilm co-branded large format printers. Immediately available through Fuji Hunt is the new

Epson/Fujifilm Stylus Pro 4000, which has output widths up to 17”. Fuji Hunt also distributes the wider format 7600,

9600, and 10600 photographic quality printers ranging in paper widths from 24” to 44”.

The partnership provides photolabs with a single source supplier of true professional-quality, large format digital

printing capability. Fuji Hunt also services photolabs with photographic print media for the Epson/Fujifilm printers.

Source: PM Newsline

Xaar Signs Triangle Digital as First Ink Partner in India

Xaar and Triangle Digital, a global supplier of professional inkjet products, have signed an agreement to enable

Triangle to sell solvent ink approved for the XJ128 printhead in India. Following the opening of Xaar’s first Indian

office in New Delhi in November 2004, Xaar’s Indian customer base is continuing to grow, and this agreement is a

key step in supporting Xaar inkjet printhead users moving forward.

Financial

3M Reports Fourth Quarter and Year-End Results

3M announced its sales and profit results for the fourth quarter and full year 2004.

Net income for the quarter was $720 million, or $0.91 per share, versus $619 million, or $0.77 per share, in the fourth

quarter of 2003. Fourth quarter net income and earnings per share increased 16.3% and 18.2%, respectively. This

result is at the high end of previous earnings guidance of $0.90 to $0.91 per share.

The fourth quarter results do not include any effect from the foreign dividend reinvestment provision of the American

Jobs Creation Act of 2004 or proposed accounting rule changes related to contingently convertible debt instruments,

since neither of the relevant rules had been finalized.

Fourth quarter worldwide sales totaled $5.1 billion, up 7.9% compared to the fourth quarter of 2003. Global sales

volumes increased 4.8% in the fourth quarter and selling prices declined 0.9%. Local-currency sales, which excludes

the impact of currency translation, increased 8.3% in Consumer and Office; 7.9% in Safety, Security, and Protection

Services; 7% in Industrial; 5% in Health Care; 4.8% in Transportation; and declined 0.8% in Display and Graphics

and 7.3% in Electro and Communications. Currency effects increased sales by 4%.

Sales outside the United States totaled $3.1 billion in the fourth quarter, an increase of 9.5% versus last year's

comparable quarter. Volumes increased 4.1%, while selling prices declined 1.2%. Currency translation effects

increased international sales by 6.6%. Local-currency sales increased 3.9% in the combined Latin America, Africa,

and Canada region, 3.7% in Asia Pacific, and 1.3% in Europe.

In the United States, sales totaled $2.0 billion, up 5.4% from the fourth quarter of 2003. Volumes increased 5.7% in

the fourth quarter and selling prices declined 0.3%.

For the calendar year, 3M net income totaled $3.0 billion and earnings per share increased 21.4% to $3.75 per share,

up from $2.5 billion and $3.09 per share in 2003 excluding special items.

2004 calendar year sales totaled $20.0 billion, a 9.8% increase over 2003. Sales volumes increased 6.7% for the

year, and selling prices declined 0.7%. For the calendar year, local-currency sales growth was driven by increases of

10.4% in Display and Graphics; 9.1% in Industrial; 6.9% in Consumer and Office; and 6.6% in Safety, Security, and

Protection Services.

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Avery Dennison Reports Fourth Quarter Results

Avery Dennison Corporation reported fourth quarter diluted earnings per share of $0.83, compared with $0.59 per

share for the prior-year fourth quarter. Excluding a special charge and a gain resulting from a divestiture in the yearago

fourth quarter, earnings per share from continuing operations grew 28%.

Financial highlights for the fourth quarter of 2004 include:

• Net income was $83.6 million, compared with $59.3 million in the fourth quarter of 2003. Excluding the prior-year

charge and gain, net income was $64.8 million in the fourth quarter of 2003, reflecting 29% growth in net income

from continuing operations compared with the prior-year fourth quarter.

• Reported sales from continuing operations grew 16.5% to $1.4 billion for the fourth quarter of 2004, compared

with $1.2 billion in the fourth quarter of 2003.

• The combined effect of an extra week in the fiscal year that was included in the fourth quarter, and increased

year-end orders by several large customers in the Office and Consumer Products segment in advance of a price

increase, contributed approximately 25% of the sales growth, while the impact of currency translation and a small

acquisition in the retail information services business contributed another 25%.

• Core unit volume grew approximately 6.5% over the same period a year ago, excluding the impact of the extra

week in the fiscal year, increased year-end purchasing activity by office products customers, and the acquisition.

• Sales growth in the U.S. exceeded 11%. Local currency sales (which excludes the impact of currency

translation) were up 8% in Europe, excluding the contribution of an acquisition in the retail information services

business, and increased 23% in emerging markets. Sales in emerging markets contributed approximately 20% of

the company's total revenue.

• Operating margin improved 30 basis points in the fourth quarter of 2004, compared with the fourth quarter of

2003, excluding restructuring charges in the prior-year fourth quarter. The improvement reflects lower operating

expenses as a percent of sales, partially offset by reduced gross profit margin. On a sequential basis, operating

margin remained essentially unchanged compared with the third quarter of 2004.

• The effective tax rate for the fourth quarter was 23.8%, 370 basis points lower than the same quarter a year ago.

Avery Dennison said that it has reorganized its reporting segments, which will provide enhanced transparency of

operational results. The change will have no effect on the way the company operates or manages its businesses. The

four new segments are:

• Pressure-sensitive Materials: consists of the roll materials and the graphics and reflective materials businesses,

as well as the performance polymers and engineered films operations.

• Office and Consumer Products: manufactures a variety of consumer products under the Avery brand name.

• Retail Information Services: serves the retail and apparel manufacturing industries, and in the past was included

in the Consumer and Converted Products segment.

• Other Businesses: consists of the industrial and automotive products business and the security printing business

that produces postage stamps and battery labels, previously reported as part of the Consumer and Converted

Products segment. This business is also made up of the specialty tapes business, previously included in the

Pressure-sensitive Adhesives and Materials segment.

Approximately 90% of Avery Dennison's total sales are reported in three segments, Pressure-sensitive Materials,

Office and Consumer Products, and Retail Information Services. Sales of the recently formed RFID (radio frequency

identification) business will be reported as part of the Other Businesses segment in the first quarter of 2005. (The

business is included with corporate expense for the fourth quarter of 2004.)

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The Pressure-sensitive Materials segment reported strong sales growth of approximately 19%. The North American

pressure-sensitive roll materials business reported double-digit sales growth. Likewise, local currency sales in the

pressure-sensitive roll materials business grew at double-digit rates in Europe, Asia, and Latin America. Pressuresensitive

materials sales growth in China was particularly robust, with an increase of approximately 50% compared

with the prior year quarter. In addition to the growth in emerging markets, the roll materials business increased sales

through market share gains and new applications, particularly in the premium packaging markets.

Sales in the Office and Consumer Products business increased by approximately 11% compared with the prior-year

fourth quarter. Approximately 90% of the growth is attributable to the extra week in the fiscal year and the pre-buying

activity by large customers. The company said that raw material cost inflation had negatively affected this business

during the quarter; however, a price increase that will go into effect during the first quarter of 2005 was recently

accepted by all customers.

The Retail Information Services segment reported strong sales growth of approximately 20%, with approximately

one-third of the growth due to the impact of currency translation and benefit from the acquisition of Rinke Etiketten, a

woven label manufacturer in Germany. The company said that new facilities in China as well as in Central and South

America expanded its production capabilities.

Financial highlights for the year:

• Earnings per share from continuing operations, on a diluted basis, were $2.78, compared with $2.68 per share in

2003. Excluding the restructuring charges and gains in 2003, annual earnings per share grew 15%.

• Net income grew to $279.7 million, compared with $267.9 million in 2003. Excluding the restructuring charges

and gains in 2003, net income increased 16% in 2004.

• Reported sales from continuing operations grew 12% to $5.3 billion, compared with $4.8 billion in 2003. The

revenue increase is due to volume growth and a positive impact from currency exchange rates, partially offset by

a negative impact from price and mix.

• Operating margin declined 20 basis points compared with 2003, excluding restructuring charges and gains in

2003.

• The full-year tax rate was 25.1%, down 240 basis points compared with last year. The full-year tax rate includes

a favorable tax audit settlement of $4 million in the second quarter of 2004.

DuPont Reports Fourth Quarter and Full-Year 2004 Results

DuPont reported consolidated net sales for the fourth quarter were $6.0 billion compared to $6.5 billion in the fourth

quarter 2003, and $27.3 billion for the full year compared to $27.0 billion in 2003. Net income for the fourth quarter

was $278 million or $.28 per share compared to $636 million or $.63 per share in the prior year. Net income for the

full year was $1,780 million or $1.77 per share, compared to $973 million or $.96 per share for 2003.

Fourth quarter net income before special items was $371 million or $.37 per share, up 28%. Higher selling prices and

volume growth more than offset higher energy and raw material costs.

For the year 2004, net income before special items was $2.4 billion or $2.38 per share versus $1.7 billion or $1.66

per share in the prior year, up 43%. The improvement reflects higher selling prices, volume growth, lower operating

costs, and favorable currency exchange rates, partly offset by higher energy and raw material costs.

Core Segment sales, which exclude the divested Textiles & Interiors businesses and include transfers and a pro rata

share of equity affiliate sales were $6.3 billion in the fourth quarter, up 14% versus 2003. Sales growth can be

attributed largely to 5% volume growth and 7% higher U.S. dollar prices, which include 4% higher local selling prices.

Positive pricing momentum for the Core Segments continued throughout the fourth quarter.

Worldwide volume growth was 5% with especially strong growth in the emerging markets of China and Eastern

Europe. In the United States, volumes were up 1%, building on the very strong 6% volume growth in the fourth

quarter of 2003.

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Segment PTOI for the quarter was $596 million versus $221 million in the fourth quarter 2003. Segment PTOI before

special items for the fourth quarter was $709 million, up 32%, and $4,205 million for the full year, up 34%.

The Performance Materials segment increased selling prices, grew volumes, and improved cost productivity. PTOI

increased 83%.

The Electronic & Communication Technologies segment increased electronic and imaging new product sales and

achieved price and volume gains, while continuing to reduce costs. PTOI increased 42%.

The Coatings & Color Technologies segment captured price improvements and volume gains, most notably in white

pigments and automotive refinishes. PTOI improved by 17%.

The Safety & Protection segment grew revenue 22% achieving higher volume and prices through new product

introductions, addressable market expansion, and continued demand for aramids, while increasing investments for

future growth. PTOI improved by 13%.

The Agriculture & Nutrition segment realized earnings gains through improved margins in crop protection and higher

sales in Pioneer. PTOI seasonal losses were $10 million less than 2003.

The company also declared a first quarter common stock dividend of 35 cents per share, payable March 14 to

stockholders of record as of February 15, 2005. This dividend is the same as that paid in the fourth quarter 2004.

Regular quarterly dividends of $1.12-1/2 per share on the $4.50 series preferred stock and 87-1/2 cents per share on

the $3.50 series preferred stock also were declared, both payable April 25, 2005 to stockholders of record as of April

8, 2005.

Inspire Investments Ltd to Invest $10 Million in NUR Macroprinters

NUR Macroprinters announced that it has reached an agreement in principle for an investment of $10 million by

Inspire Investments Ltd. Subject to a definitive agreement, the company's Board of Directors has approved the

issuance of approximately 15.3 million ordinary shares at $0.65 per share and warrants to purchase 7.2 million

ordinary shares at $0.75 per share.

The investment, which will require the approval of NUR's shareholders, also remains subject to completion of due

diligence examinations by Inspire, a definitive agreement and the restructuring of the company's debt with its bank

lenders.

In conjunction with the aforementioned transaction, Dan Purjes, Chairman of the board of directors and a major

shareholder of NUR, has decided to resign from the board of directors, effective immediately. In addition, Mr. Purjes

has agreed to enter into a voting agreement with Inspire pursuant to which voting control over all shares owned by

Mr. Purjes will be assigned to Inspire. In consideration of Mr. Purjes entering into the voting agreement, Inspire will

assign to Mr. Purjes 3.0 million of the Warrants.

The company further reported that following the resignation of Mr. Purjes from the NUR's board of directors, the

board of directors elected Robert F. Hussey as acting Chairman. Mr. Hussey has served as a Director of the

company since September 1997 and he is the Chairman of the audit committee of the board of directors. Mr. Hussey

is a private investor. From June 1991 to April 1997, Mr. Hussey served as the President and Chief Executive Officer

of Metrovision of North America. Prior thereto, from 1984 to 1991, Mr. Hussey served as the President, Chief

Executive Officer, and Director of POP Radio Corp., a company which he helped form. From 1979 to 1984, Mr.

Hussey served as the Vice President/Management Supervisor for Grey Advertising, Inc. Mr. Hussey is also a Director

of Digital Lightwave, Inc., New World Power Corp., Digital Data Networks, Corp., and Axcess Inc., which are all

publicly held companies. Mr. Hussey holds a B.S. Degree in Finance from Georgetown University and an MBA

Degree in International Finance from George Washington University.

NUR also reported that it has appointed Ms. Tamar Peller as a new member of the board of directors. Ms. Peller has

over 10 years of experience in finance. She is the Co-Founder and CFO of Rubidium Ltd., a high tech company

specializing in digital voice processing chips and applications. Ms. Peller holds this position since 1997. Prior to this,

Ms. Peller was with the high tech audit group of the accounting firm of Almagor & Co. Ms. Peller holds a B.A. Degree

in Accounting and Finance from the College of Management in Tel-Aviv, Israel and she is a Certified Public

Accountant. Ms. Peller is a Board Member and the Chairman of the Hi-tech Committee of the Institute of Certified

Public Accountants in Israel - Tel-Aviv District.

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Kodak Reports Fourth Quarter Results

Eastman Kodak Company reported a preliminary fourth quarter net loss of 4 cents per share and a revenue increase

of 3%. While charges for restructuring generated the loss, rising demand for the company’s digital portfolio more than

offset reduced sales of some traditional products and services.

Kodak’s reported net loss for the quarter included a loss from continuing operations of 6 cents per share, slightly

offset by income from discontinued operations of 2 cents per share. The company recorded non-operational charges

and gains in the quarter that reduced earnings from continuing operations, on a net basis, by 88 cents per share,

primarily reflecting the focused cost reductions announced in January 2004. In addition, the adoption of new rules

related to the effect of contingently convertible debt on diluted earnings per share reduced earnings from continuing

operations by 4 cents in the quarter. By removing the charges and gains from the calculation of earnings from

continuing operations, and adjusting for the new earnings per share rules as they relate to contingently convertible

debt, Kodak had operational earnings per share of 78 cents in the fourth quarter.

Results are preliminary because, during the course of the year-end closing process, errors were discovered relating

to the company’s accounting for income taxes. Working in conjunction with its independent registered public

accounting firm, PricewaterhouseCoopers, the company is in the process of determining the magnitude of these

errors. Although they have no bearing on the company’s revenue, cash flow or its earnings before taxes, the errors

may affect the company’s after-tax income.

Sales totaled $3.765 billion, an increase of 3% from $3.648 billion in the fourth quarter of 2003. Excluding foreign

exchange, sales increased 1%.

The company reported a net loss of $12 million, or 4 cents per share, compared with net income of $19 million, or 7

cents per share, in the fourth quarter of 2003. The net income from discontinued operations of 2 cents per share in

the fourth quarter of 2004 reflects a $5 million adjustment to the gain reported in the third quarter of 2004 from the

sale of the company’s Remote Sensing Systems operation to ITT Industries, Inc.

Earnings from continuing operations, excluding the impact of non-operational items, were $236 million, or 78 cents

per share. The non-operational items include charges totaling $1.10 per share, primarily related to the previously

announced cost reductions, and gains totaling 22 cents per share, reflecting legal settlements. In the fourth quarter of

2003, earnings from continuing operations, excluding non-operational items, were $181 million, or 60 cents per share.

In the fourth quarter, Kodak provided more evidence that it is executing on its strategy to drive digital growth while

managing smartly its traditional businesses. The company’s digital revenue rose 40% in the quarter, more than

offsetting a 16% decline in traditional revenue. The company’s Digital & Film Imaging Systems Group, which includes

the consumer film business, posted an earnings increase of 6% even as sales declined by 3%, reflecting effective

cost and capacity controls in the traditional portfolio.

For the quarter, operating cash flow excluding acquisitions was $458 million, compared with $473 million for the

fourth quarter of 2003. The company generated less cash flow than it had projected earlier in the year, reflecting

higher cash payments associated with the accelerated pace of restructuring, as well as a lower-than-expected

reduction of inventory.

Debt decreased $927 million from the year-end 2003 level to $2.321 billion, exceeding the company’s goal of

reducing debt in 2004 by as much as $800 million. The debt-to-capital ratio decreased to 37.9% at the end of 2004,

from 49.9% at the end of 2003. The company’s cash balance remains strong at $1.255 billion as of the end of 2004,

essentially unchanged from 2003.

Gross Profit on an operational basis was 29.5%, down from the year-ago level of 32.7%.

Selling, General, and Administrative expenses on an operational basis were 18.7% of sales, down from 19.6% in the

year-ago quarter.

Digital & Film Imaging segment sales totaled $2.550 billion, down 3%. Earnings from operations for the segment were

$149 million on a GAAP and operational basis, compared with $141 million a year ago. Highlights for the quarter

included a 49% increase in consumer digital capture sales, which includes the KODAK EASYSHARE line of cameras;

a 48% increase in the sales of KODAK Picture Maker kiosks and related media; and continued strong sales of

motion-picture origination and print film. The segment’s earnings from operations increased largely because of cost

reductions.

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Health Imaging sales were $742 million, up 5%. Earnings from operations for the segment were $118 million on a

GAAP and operational basis, compared with $134 million a year ago. Highlights included an 11% increase in sales of

digital products and services.

Graphic Communications sales were $219 million, up 152%, largely reflecting the acquisition in 2004 of Kodak

Versamark and NexPress. The loss from operations was $42 million on a GAAP and operational basis, compared

with a loss of $18 million a year ago, reflecting the anticipated dilution of the NexPress acquisition. The integration

plans are on or ahead of schedule for Kodak Versamark and NexPress, and both subsidiaries are enjoying solid

demand for their products and services.

Commercial Imaging sales were $219 million, up 1%. Earnings from operations were $33 million on a GAAP and

operational basis, compared with $37 million a year ago.

All Other sales were $35 million, up 52% from the year-ago quarter. The loss from operations totaled $72 million on a

GAAP and operational basis, compared with a loss of $19 million a year ago. The loss primarily reflects increased

investments in new technology, and legal fees associated with patent litigation involving Sun Microsystems, Inc. The

All Other category includes the Display & Components operation and other miscellaneous businesses.

For the year, sales were $13.517 billion, up 5% from $12.893 billion in 2003. Excluding the impact of foreign

exchange, sales rose 2% compared with 2003.

Reported net earnings for the year totaled $649 million, or $2.16 a share, compared with $265 million, or 92 cents per

share, in 2003. Earnings from continuing operations totaled $187 million, or 65 cents per share, compared with $199

million, or 69 cents per share, in 2003. Excluding the impact of focused cost reductions and other non-operational

items, earnings from continuing operations in 2004 were $789 million, or $2.62 per share. In 2003, earnings from

continuing operations, excluding focused cost reductions and other non-operational items, were $623 million, or

$2.15 per share.

As a result of the income tax accounting errors, the company has determined that it has an internal control deficiency

that constitutes a “material weakness,” as defined by the Public Company Accounting Oversight Board’s Auditing

Standard No. 2. Consequently, management will be unable to conclude that the company’s internal controls over

financial reporting are effective as of December 31, 2004. Therefore, PricewaterhouseCoopers will issue an adverse

opinion with respect to the company’s internal controls over financial reporting. An assessment of the company’s

internal controls will be included in its Annual Report on Form 10-K, which will be filed in March.

Xerox Reports Fourth Quarter Results

Xerox Corporation announced fourth quarter earnings of 24 cents per share that reflect increased sales of color

technology, demand for document services, and continued success in the company’s operational performance.

Equipment sales grew about 3% in the fourth quarter and total revenue was $4.3 billion, an increase of 1% from the

fourth quarter of 2003. Equipment sales and total revenue included a currency benefit of 3 percentage points.

The overall post-sale trend improved as the revenue stream from new digital systems and services partially offset

declines from the company's older light lens technology and weak performance in Brazil, both of which significantly

impacted total revenue. To drive growth in Brazil, the company continues its implementation of a two-tier distribution

channel.

Fourth quarter revenue from Xerox's targeted growth areas (office digital, production digital, and value-added

services) grew 5% year-over-year, and now represents about 76% of the company's revenue.

Revenue from color products grew 21% in the fourth quarter, and it is a key driver of Xerox's growth strategy, as the

increasing volume of pages printed on Xerox's color systems flows through to post-sale revenue. Color revenue

represents 27% of Xerox's total revenue, a year-over-year increase of 5 percentage points.

The company continues to deliver double-digit growth in Xerox Global Services, which offers consulting, imaging, and

content management. Increasingly, information technology companies are partnering with Xerox to integrate Xerox's

expertise in document management with IT infrastructure services. Last month, Xerox and EDS announced a $40

million contract with Barclays Plc to manage Barclays' procurement, service, and helpdesk for more than 2,250 Xerox

and other devices across nearly 200 Barclays Group office sites in the United Kingdom. Revenue from Xerox's valueadded

service offerings such as this grew 25% in the fourth quarter.

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Production revenue was up 1% in the fourth quarter, largely due to a 10% increase in production equipment sales.

Install activity in the fourth quarter was more heavily weighted toward higher-end digital color systems like the Xerox

iGen3 and DocuColor 8000, which generate strong revenue and higher page volumes that flow through to future

post-sale growth. As a result, production color installs were down 4% and install activity in production monochrome

declined 9%. For production monochrome, the success of the Xerox Nuvera copier/printer light production systems

only partially offset declines from light lens as well as declines in production publishing. In this segment, activity was

impacted by customers choosing to delay purchasing decisions until the North American launch of the Xerox Nuvera

digital production system.

Total revenue from Xerox's office business was flat, with equipment sales down 1% in the fourth quarter largely due

to product mix. Install activity was strong, with office color multifunctional systems up 17% and office color printing

installs up 135% driven by laser and solid ink printers. Installs of office monochrome products were up 6%, reflecting

strong placements of Xerox WorkCentre desktop multifunctional systems.

The company reported fourth quarter selling, administrative, and general expenses of 25%of revenue, its lowest in

the past decade. Fourth quarter gross margins were 40.1%, reflecting particularly strong performance in desktop

office products and light production systems that impacted traditional product mix. The decline in gross profit from

decreased revenue in Brazil also had an adverse impact on the company's overall gross margins.

Xerox generated operating cash flow of $816 million in the fourth quarter, and ended the year with $1.8 billion in

operating cash flow after contributing about $400 million to pension plans. The company's year-end cash balance

was $3.2 billion, an increase of about $750 million from year-end 2003. Debt was down more than $1 billion yearover-year.

Full-Year 2004 Results:

• Net income of $859 million or 86 cents per share, including 8 cents per share from the gain on Xerox's sale of its

ownership position in ContentGuard.

• Equipment sale revenue of $4.5 billion, an increase of 5% from $4.3 billion in 2003, including a 3 percentage

point currency benefit.

• Total revenue of $15.7 billion, which remains unchanged from 2003, including a 3 percentage point currency

benefit.

• Debt balance of $10.1 billion, a reduction of more than $1 billion from year-end 2003.

• Operating cash flow of $1.8 billion.

• Year-end cash balance of $3.2 billion.

Miscellaneous

AccessVia Implements Web dSignShop in 350 Bell Canada Stores

AccessVia announced that it has deployed Web dSignShop to deliver sign and label printing for 350 Bell Canada

corporate and independent stores. The signage solution allows locations to print data-integrated signs in English and

French, a capability unmatched in the industry and an indicator of AccessVia's international expertise.

Web dSignShop allows associates throughout the network of Bell Canada's Bell World stores to print promotional

signs and shelf-edge labels using a Web-connected PC and desktop printers. The Bell World headquarters team

controls the sign layouts and item data, ensuring design consistency and sign accuracy across all of its retail

locations. Individual stores access batches of the centrally designed signs or compose their own signs using

templates and real-time product data. In the past, associates have used word processing and spreadsheet

applications to create the signs that merchandise the stores' products and service plans.

Web dSignShop gives Bell World the flexibility to serve different segments of its retailing community as well as

different segments of the Canadian public. Corporate-owned stores will access Web dSignShop via the enterprise's

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intranet, and independently owned stores can use conventional Internet connections to tap into identical functionality.

Both types of retailers can print signs in English, in French, or in both languages, without manual adjustments to the

composition of the signs, allowing the retailer to optimally market its services to a multilingual customer base.

Big 5 Sporting Goods Deploys AccessVia Web dSignShop in 300 Stores

AccessVia announced that Big 5 Sporting Goods has chosen Web dSignShop to deliver sign printing capabilities in

its 300+ stores. With Web dSignShop, store associates will use the corporate intranet to instantly access batches of

centrally designed signs or compose their own signs in the store using easy, pre-designed templates. The

headquarters team will maintain control of sign layouts and real-time item data to ensure design consistency and sign

accuracy among all the stores.

Currently, Big 5 stores use a number of different sign making methods, producing a variety of results. Consistency of

quality and format were major factors in its choice of Web dSignShop.

Big 5 anticipates immediate ROI using Web dSignShop, the result of reducing sign production costs, eliminating

delivery expenses, and streamlining associate training and operations. They also expect higher sales as the more

visually appealing signage compels buyer attention and increasing awareness of store promotions and product

features.

Printer's Cove Launches Wide Format Business with New Scitex Vision GOjet Press

Printer's Cove recently launched its super-wide format digital printing business using a new Scitex Vision GOjet press

for which it was the North American beta test site.

Incorporated in March 2004, Printer's Cove was founded by Damaso Diaz, President, and Fernando Garces, Vice

President, former employees of another wide format printer in the Miami area. The two had pioneered the digital

department at their previous employer and took a leap of faith that they could successfully go out on their own.

Diaz and Garces were already thoroughly familiar with Scitex Vision equipment and saw the new GOjet on display at

the ISA Show in Florida in April. They jumped at the opportunity to serve as the North American beta test site for the

GOjet and to use the new press as the basis for their business. The GOjet, a 10 ft. 6in. (3 meter) wide four-color

press, was designed to be cost-effective and to deliver a quick return on investment while printing high quality

billboards, banners, wall murals, and other wide format products. It has proven a suitable fit for Printer's Cove's

operations, product mix, and customer base.

Like the owners of any new company, the partners are putting in long hours, running the GOjet up to 16 hours a day

while refining their product mix to stake out a business niche and maximize profitability.

Contributing to the high quality of the printing done by Printer's Cove is a policy of performing a color profile for each

of the GOjet's six modes for each substrate that comes into the shop.

Another quality principle at Printer's Cove is to use only what the company considers top-of-the-line substrates such

as Avery vehicle wraps, Elite and Flexcon vinyl for banners, and Ultraflex coated wallpaper for large murals.

The new company has delivered vehicle wraps for Hard Rock Café, Miami's Telemundo Spanish language television

outlet and local radio stations, and billboards for customers that include Walt Disney World and the Miami Zoo.

Building a supplier relationship with major event planning companies has resulted in banners for corporate events

and grand openings as well as banners and wall murals - some as much as 78 ft. in length - for new shopping

centers.

Tiara Group Debuts Specialty Papers & Media 2005

Trends in marketing and technology for narrow- and wide-format media is the subject of Specialty Papers & Media

2005, an Imaging Materials Seminar produced by The Tiara Group, LLC.

This annual event, now in its 21st year, was renamed from its original title, Specialty Papers and Films, to reflect

expanding markets for vinyl, canvas, film, fabric, and other substrates. It will be held at the Hilton DoubleTree Golf

Resort in San Diego, California.

Keynoting the event will be Art Diamond, Chairman of The Tiara Group, with his view of how the industry is meeting

“The Challenge of Rapid Change,” which is the theme of this conference.

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Mr. Diamond is a chemical engineer with 49 years experience in the imaging industry. His work in papermaking and

paper coating, in toner development and manufacturing, and in inkjet chemistry led to creation of the Handbook of

Imaging Materials (Marcel Dekker, New York), a college level text now in its second edition, and to the Imaging

Materials Seminar series, now in its 22nd year.

Mr. Diamond formed Diamond Research Corporation (DRC) in 1968, and for the past 36 years has served most of

the major imaging companies as a technical and marketing consultant. Mr. Diamond continues his busy consulting

schedule while serving as President of DRC and Chairman of The Tiara Group.

Registrants will enjoy exploring current issues with the industry's top executives, front line managers, scientists,

engineers, and market strategists. Because they are highly interactive, the Tiara seminars are unequaled in

information transfer and networking opportunities. They prompt business meetings with suppliers, distributors, and

customers at the hotel, on the golf course, or at any one of this city’s numerous fine restaurants.

Registrants will also enjoy roaming the Exhibit Area to check out recent innovations and speak with suppliers.

As with other Tiara Group conferences, SP&M 2005 will serve as a platform for business interaction among the many

manufacturers, dealers, and distributors in this sector of the imaging industry. It is designed as much for marketing

executives and product planners as it is for engineers and scientists in the imaging industry. It is also intended for

those who supply raw materials, machine components, plant equipment, technology, and other goods and services.

Table Top Exhibits are available at a nominal fee for all Registrants. Those attending the event are advised to roam

the Exhibit Area and spend some face time with those company representatives who will be demonstrating new

products and services.

For Seminar Registration, visit the Tiara Group’s Web site at www.thetiaragroup.com. Registration is limited. A

confirming invoice will be sent depending upon space availability.

U.S. Military Implements AccessVia Printing Solution In Base Stores and Mobile Field

Units

AccessVia announced that hundreds of military stores worldwide, including mobile field stores in Iraq and other active

deployment regions, are now using Web dSignShop for on demand sign printing. Department of Defense personnel

say that the browser-based sign solution is particularly well suited for remote outposts because it is instantly

deployed, requires no software installation, and works instantly with almost any type of computer and printer.

According to Eric Alberts of the Army and Air Force Exchange Service (AAFES), Web dSignShop is up and running in

most of its nearly 250 on-base stores throughout the United States, Europe, and the Pacific. The base stores typically

resemble conventional retail grocery and convenience outlets.

These mobile stores, called tactical field exchanges, sell toiletries and other essentials to U.S. soldiers and often

operate under makeshift conditions in war zones, where circumstances demand a no-fuss, easy-to-use printing

application. With Web dSignShop, personnel in these field stores are able to start printing signs immediately using a

centrally delivered solution with no software installation or local application management.

While the brick-and-mortar base stores are a far more predictable setting for printing signs, the variety of retail

formats administered by AAFES required a solution with broad flexibility. AAFES stores include everything from large

outlets that sell groceries and appliances to small convenience formats that offer tire service and video rental.

Dean A. Sleeper, CEO of AccessVia, added that the military's success with Web dSignShop underscores the

solution's versatility and reliable results.

The AccessVia Print solution includes Web dSignShop and dSIGN to provide clients with accurate and attractive

signs, shelf-edge labels, fact tags, and coupons. Web dSignShop is designed for retailers who want to use the

Internet, an intranet, or an extranet to publish signs using a Web browser without installing or maintaining in-store

software. dSIGN is built for classic client/server implementations and offers advanced product data delivery and

integration with legacy systems. AccessVia also offers a solution for automated electronic displays, including

customer-facing POS displays, self-service terminals, and kiosk applications for price verification, assisted shopping,

endless aisle services, and gift registry.

AccessVia customers include Bed Bath & Beyond, Kroger, LCBO, Petco, Safeway, Staples, SUPERVALU, Target,

and Walgreens.

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VUTEk Announces Installation of PressVu 180/600 EC at Palladeo

VUTEk announced that its PressVu UV 180/600 EC flatbed and flexible printer has been installed at California-based

retail store design and installation specialist, Palladeo. The new printer has enabled Palladeo to push the boundaries

of store decoration for the refit of four Jelly Belly retail outlets.

Aimed predominantly at children, visitors to each newly refitted Jelly Belly store are immediately drawn to a set of

brightly colored backlight transparency boxes, featuring images of hundreds of jellybean flavors. Printed onto

translucent styrene, five 1m x 1m printed graphics were installed in box shells and mounted on the walls.

To guide customers around each store, 2m x 5m red and yellow graphics were printed on self-adhesive vinyl and

installed on each shop floor. Product images printed on PVC were also used to decorate the side panels of reception

and payment counters, with POP display stands used to decorate each counter top.

With a host of additional jellybean-shaped ceiling danglers, light fittings, and other promotional items, the VUTEk

PressVu UV 180/600 was instrumental in maintaining print consistency and bringing the personality of the Jelly Belly

brand to life.

VUTEk PressVu UV 200/600 Used to Print Graphics for Worldwide Launch of Dior

Perfume

Le Groupe Corlab of Montreal, Canada announced that it has utilized its new VUTEk PressVu UV 200/600 for the

production of in-store graphics for the worldwide launch of Dior's new perfume, Chris 1947.

Launched for the first time at “The Bay Store” retail outlet in Toronto, Corlab used its PressVu UV to print 40 in-store

promotional and point of sale items for Dior's new perfume. Designed to create maximum impact, Corlab printed a

host of promotional applications, including two 16’ x 4’ vinyl banners installed on the walls of the department store.

Featuring bright colors and high-quality photographic images, the graphics gained significant customer praise and

enabled Dior to drive sales.

In completing the Dior job, one of Corlab's biggest challenges was to ensure that its graphics met with Dior's strict

corporate identity guidelines. It solved this by utilizing the PressVu UV's six-color capability to maintain color accuracy

and photographic resolution across a variety of substrates, including card for POP items, vinyl for wall banners, and

styrene and Gator Foam for directional graphics.

Organization & Personnel

Agfa Appoints Anne Vleminckx as Chief Financial Officer

Agfa-Gevaert announced that Marc Gedopt will leave the Group and that Anne Vleminckx, currently Secretary-

General of the Board of Management and responsible for Investor Relations and Corporate Communication, is

appointed as Chief Financial Officer.

Marc Gedopt, Chief Financial and Administration Officer, has chosen to pursue other career opportunities. Effective

January 15, 2005, he will leave the Board of Management. He will continue to serve as a member of the Board of

Directors until the Annual Meeting of Shareholders of April 2005.

The Board of Directors thanks Marc Gedopt for his important contribution to the strategic refocusing of the Group. Mr.

Gedopt has been instrumental in executing the acquisitions and divestitures that the Group has completed since

2003. In particular, the successful divestiture of the Consumer Imaging division has made from Agfa a more focused

group, well positioned to meet the challenges of the future. Mr. Gedopt has indicated that he wishes to continue his

career in the financial sector. The Board of Directors wishes him a lot of success for the future.

Anne Vleminckx is a Belgian citizen. After her studies in economics at the Catholic University of Louvain, she started

her career in 1975 as a researcher at the "Centrum voor Economische Studiën" of the same university. From 1983 to

1996, she worked at the Generale Bank, where she had several assignments and became Director of Corporate

Communications and Investor Relations Manager. From 1996 to 1999, she was Vice-Chairwoman of the

management committee of the Brussels Stock Exchange. She then rejoined the Catholic University of Louvain to

become Chief Financial Officer. In 2001, she joined Agfa where she is currently Secretary-General of the Board of

Management, Investor Relations Manager and responsible for Corporate Communication.

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Frank Romano Pays Tribute to Michael H. Bruno

Print industry leader Frank Romano published a tribute to Michael H. Bruno, who passed away in early January. An

abstract of Mr. Romano’s tribute is provided below.

Mike Bruno, who was born in February 1911, died in his sleep at the age of 93. He is survived by his wife Gilda, his

son J. Michael, and his daughter Donna Eltoft. Mr. Bruno will always be considered the father of the American

printing industry.

Mike’s mother passed away in 1925 at the age of 45. She had wanted him to become a doctor and he would have

studied medicine if she lived, but Mike hated the sight of blood and switched to chemistry. In 1927 he graduated with

honors from Hillhouse High School in New Haven, Connecticut and won a four-year scholarship to Yale University.

One of his classmates would be the future Chairman of Heidelberg.

Intrigued by an article in “Inland Printer,” now “American Printer” on collotype printing, Mr. Bruno went to work for a

Connecticut printing company that printed with gravure. He met Gilda Esposito in 1936, and the two were married in

1937. Before the start of World War II, Mike joined the ready reserve and then went on active duty in 1941 as a

Research Officer in the Army Map Service, later the Defense Mapping Agency, and today DIMA. After the war, he

retired as an Army Major and went into the Reserves and ultimately as a Lt. Colonel in 1971.

Mr. Bruno joined the fledgling Lithographic Technical Foundation, later the Graphic Arts Technical Foundation, and

moved to Chicago. Later, the organization would move to Pittsburgh, Pennsylvania. After a distinguished career at

LTF, Mike took a senior position with International Paper and introduced a newsletter entitled “What New(s) in

Graphic Communications,” which he published for 25 years.

The Pocket Pal has been published by IP since 1934 and its 18th edition was published in 2000. Mike was its editor

since 1967 when he was assigned the project of editing the 10th edition. The first edition of the Pocket Pal was

printed in 1934 by Grover Daniels of Daniels Printing Company in Everett, Massachusetts. More people have learned

about printing from the Pocket Pal than from any other source.

With Frank Preucil and others, Mr. Bruno established the research methodology and knowledge base for the printing

industry and pioneered many of the technological innovations that made lithographic printing a viable process. Mike

and a small group of industry people went on to found the Technical Association of the Graphic Arts after WWII as a

forum to present and disseminate industry research. He retired from IP in the late 1970s and traveled the world as a

consultant on printing technology. His annual “Status of Printing in the U.S.” was presented at international

conferences for over 50 years. He was active well into his late eighties, publishing and speaking about the industry he

loved. He attended every Drupa show from its start in 1951 until the end of the century, the last accompanied by his

grandson, who had graduated from Illinois State University in Bloomington, Illinois. Mike was one of the first

Americans allowed to lecture in (then) Communist China.

Mr. Bruno’s autobiography will be published in 2006 as “Mike Bruno’s History of Printing in the 20th Century.” For it,

165 of his slides are being scanned by students at RIT. He loved jazz and dancing, but every conversation would

always turn to printing.

HP Names Steve Smith Senior Vice President of Managed Services

HP announced that Steve Smith has been named Senior Vice President of Managed Services. HP's Managed

Services organization provides companies with outsourcing services and solutions to manage their IT infrastructures,

as well as business process outsourcing capabilities.

Mr. Smith replaces Uli Holdenreid, who recently became Managing Director of HP Germany. In his new position, Mr.

Smith will report to Ann Livermore, Executive Vice President of the Technology Solutions Group at HP.

Mr. Smith brings extensive global IT services and outsourcing management expertise to his new position at HP,

having served most recently as Vice President of Global Professional and Managed Services at Lucent Technologies.

Previous to that, he worked for 16 years at Electronic Data Systems, where he led the company's global sales force

and held a number of senior management roles throughout the Pacific Rim, including serving as President of Asia

Pacific, as well as President of the Western United States.

Throughout his career, Mr. Smith has been active in a number of civic organizations, including the Board of Trustees

of the University of California, the Board of Directors of the Bay Area Council, and the San Francisco and Hong Kong

American Chambers of Commerce.

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Mr. Smith had a successful eight-year career in the U.S. Army, where, among other roles, he was aide-de-camp to

the Commander in Chief of the U.S. Armed Forces in the Pacific. He holds a B.S. Degree in Engineering from the

U.S. Military Academy at West Point.

InfoTrends/CAP Ventures Appoints Sophie Matthews-Paul as Consulting Associate

InfoTrends/CAP Ventures, the leading worldwide market research and strategic consulting firm for the digital imaging

and document solutions industry, today announced the appointment of Sophie Matthews-Paul as Consulting

Associate for the Visual Communications Technologies (VCT) Consulting Service.

As Consulting Associate, Ms. Matthews-Paul will contribute to InfoTrends/CAP Ventures’ service with written reports

and private client work. Because she is based in the U.K., she will provide greater global coverage of the wide format

market to VCT clients.

Prior to joining InfoTrends/CAP Ventures, Ms. Matthews-Paul was editor of two trade publications, Screen & Display

Magazine and Print Advertiser Magazine. Sophie has also contributed articles on prepress and digital technologies

for many U.K.-based and European printing magazines. She formed the Screen & Digital Printer trade publication in

the late 1990s, which later became Signs, Screen, & Digital Printer.

“We are very pleased to have Sophie working with the VCT team,” commented Tim Greene, an Associate Director at

InfoTrends/CAP Ventures. “Sophie is extraordinarily knowledgeable about the screen and digital printing markets.

With her extensive industry knowledge and hands-on experience with wide format devices, she is sure to be a

valuable asset to the VCT Service as well as InfoTrends/CAP Ventures.”

Ms. Matthews-Paul also owns and operates her own wide-format digital printing equipment, enabling her to test out

software and consumables. From her years of experience, Sophie has become versed in all areas of wide-format

print technologies, including machines, head technologies, inks, supplies, software, and finishing. She is also an

independent consultant who has worked with many of the industry’s leading manufacturers, vendors, and distributors.

Kodak Appoints Mary Jane Hellyar as Senior Vice President

Eastman Kodak Company announced that its board of directors has elected Dr. Mary Jane Hellyar as Senior Vice

President of the company, effective January 31, 2005.

Dr. Hellyar, President of Kodak's Display & Components Group, joined Kodak as a research scientist in 1982. She

has held a variety of research, manufacturing, and general management positions in support of the company's

professional and consumer imaging business. In 1999, Dr. Hellyar was named General Manager of the Consumer

Film Business and was elected a corporate Vice President. Her responsibilities were expanded in 2001 as General

Manager of Capture & Traditional Media, and again in 2003, when she became General Manager of Capture,

Consumer, and Professional Imaging. She was named to her current position in November 2004.

Dr. Hellyar received a B.A. Degree in Chemistry and Mathematics from the College of St. Catherine in St. Paul,

Minnesota; M.S. and Ph.D. Degrees in Chemical Engineering from Massachusetts Institute of Technology (MIT;) and

an MBA in the Management of Technology from the Sloan School at MIT.

Kodak Appoints William J. Lloyd as Chief Technical Officer and Director of R&D

Eastman Kodak Company announced that it has appointed William J. Lloyd as Chief Technical Officer and Director of

R&D (Research & Development), effective February 28, 2005. Mr. Lloyd, who joined Kodak in June of 2003, had

been Director of Inkjet Systems Program.

Mr. Lloyd, a Vice President of the company, will begin the transition to his new duties immediately. He succeeds Dr.

James C. Stoffel, who has elected to retire from Kodak at the end of February 2005 and will assist in the transition.

As Chief Technical Officer, Mr. Lloyd will report to Kodak Chairman and Chief Executive Officer Daniel A. Carp. In his

capacity as Director of R&D, he will report to Kodak President and Chief Operating Officer Antonio M. Perez.

Prior to Kodak, Mr. Lloyd was President of a consulting firm, Inwit, Inc., and served as Executive Vice President and

Chief Technology Officer of Gemplus International, a maker of Smart Cards. He has also served as Co-Chief

Executive Officer of Phogenix Imaging.

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Visual Communications Technologies Consulting Service News

Before joining Phogenix, Mr. Lloyd spent 31 years at Hewlett-Packard Company, rising to the position of Vice

President and Chief Technology Officer of the Inkjet Products Group. Mr. Lloyd holds a B.S.E.E. Degree in Electrical

Engineering from UCLA and an M.S.E.E. Degree in Computer Engineering from Stanford University. He is a member

of the Board of Directors of the Infotonics Technology Center.

Mr. Stoffel joined Kodak in 1997, and became Director of R&D in 1998 and CTO in 1999. He joined Kodak after 25

years at Xerox Corp. He holds more than 25 U.S. patents, and is the author of an image processing reference book

for graduate students.

As Director of R&D and CTO, Mr. Stoffel has helped guide a transformation of the R&D portfolio from one steeped in

traditional silver halide technology to one steeped in digital systems technologies.

Mr. Stoffel is Vice Chairman of the Board of the Information Technologies Industries Association, a member of the

Board of Directors of Harris Corporation, Trustee of the George Eastman House, and on the Advisory Board of the

Graduate School at the University of Notre Dame.

Océ Appoints Bill Pugh as Vice President of North American Operations

Océ announced the appointment of William R. Pugh to the new position of Vice President of Operations. The

Operations department is made up of the Order and Billing Assurance, Inventory Management, Logistics & Delivery,

and Purchasing functions for Océ North America. Mr. Pugh joined Océ in September 2003 as the Leader of Change

Management for Océ's program implementation at The Boeing Company. In that capacity, he worked to implement

the best practices of Océ Business Services within the environment and culture of this important new Océ client.

Prior to joining Océ, Mr. Pugh held a series of diverse and challenging roles with major international enterprises. He

began his career with General Motors in Flint, MI as a Production Supervisor and then moved to Coopers & Lybrand

as a consultant, during which time he earned an MBA from Yale University. In 1991, Mr. Pugh joined General

Electric's Appliances Business. While with General Electric, he was responsible for the worldwide management of

inventory and subsequently earned his Master Black Belt in General Electric's Six Sigma Initiative. In 1997, Mr. Pugh

became the Quality Manager and Business Change Agent, and later the New Products Manager, for Polaroid

Corporation. Immediately prior to joining Océ, he held director level positions in Operations, Continuous

Improvement, and Customer Experience at RR Donnelley in Chicago.

Mr. Pugh reports to Dennis F. Riordan, Senior Vice President and Chief Financial Officer of Océ-USA Holding, Inc.

Scitex Vision Appoints Clay Mizelle as District Sales Manager for Ohio Valley Region

Scitex Vision America, Inc. has appointed Clay Mizelle as District Sales Manager for the Ohio Valley Region of the

United States. He will be responsible for the sale of Scitex Vision digital printing presses and inks for industrial

applications, including wide format graphic arts, packaging, and textiles. Mr. Mizelle’s territory includes Ohio,

Michigan, West Virginia, Kentucky, Southern Indiana, Western Pennsylvania, and Western New York.

Mr. Mizelle comes to Scitex Vision America from Agfa Corporation, where he served for 18 years. Most recently he

was Agfa’s Electronic Systems Account Manager, with responsibility for the sale of high-end electronic imaging

systems and software solutions to the commercial printing and packaging markets. At Agfa he was recognized for

sales achievement with membership in the President’s Club and the Diamond Club. Mr. Mizelle’s previous

associations include technical sales positions with Eastman Kodak Company.

Mr. Mizelle holds a B.S. Degree in Marketing from Miami University in Oxford, Ohio. He and his family reside in

Cincinnati, Ohio.

Scitex Vision Appoints Steve Vanderburg as District Sales Manager of Southeastern U.S.

Screen Market

Scitex Vision America, Inc. has appointed Steve Vanderburg as District Sales Manager for the Southeastern U.S.

Screen Market. Mr. Vanderburg is responsible for the sale of Scitex Vision digital printing presses and inks to screen

printers for multiple industrial applications including wide format graphic arts and textiles. His territory includes

Virginia, North and South Carolina, Georgia, Florida, Alabama, and Tennessee.

Mr. Vanderburg has more than 20 years experience in all major areas of the screen and digital printing industries,

and has worked with many printers in the Southeast during that time. He comes to Scitex Vision America from Sefar

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News Visual Communications Technologies Consulting Service

America, where he had served as Senior Territory Manager since 1995. At Sefar America he was responsible for

distributor and branch sales, as well as product and application training for sales representatives and end-user

surveys. In addition, he was involved in advising and assisting large customers in areas including process application

for screen making; product application; process control; use of chemicals; screen stretching equipment; standard and

large format digital printing equipment; and pre-press equipment.

His previous associations include territory, national, and international management positions with Flexible Products,

Precision Screen, Colonial Printing Inks, and Allison Manufacturing.

Mr. Vanderburg is a graduate of Pfeiffer University in North Carolina with a double major in Economics and Business

Administration. He resides in Albemarle, North Carolina.

VUTEk Appoints New European Managing Director

VUTEk Inc. has appointed Philippe Carron as its new European Managing Director. Based at the European

Headquarters in Zaventem, Belgium, Mr. Philippe is responsible for the development of VUTEk's European business

in new and existing markets, and for driving sales of its products.

Mr. Philippe joined VUTEk from Oracle on January 5th. At Oracle, Mr. Philippe held the position of Channel Director

in Belgium, and was head of its Belgian Internet Sales Team in Ireland for two years. He was responsible for creating

indirect business and developing relationships and alliances with system integrators. He also held a number of

previous senior management positions at Vistorm, Compaq, and IBM.

Page 22 www.capv.com © InfoTrends/CAP Ventures, January 31, 2005

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