Presstek and Heidelberg Settle Arbitration |
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| 07/16/2001 |
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Presstek, Inc. (Nasdaq: PRST) and Heidelberger Druckmaschinen AG (XETRA: HDD) announced today that they have settled their oustanding arbitration, related to issues of their non-exclusive cooperation in the future, intellectual property rights, patent ownership, license terms and conditions and related matters. Specific details of the agreement were not disclosed.
Presstek's President and Chief Executive Officer, Robert Hallman said, "Presstek shares a long and important partnership with Heidelberg on direct imaging, so we are happy to have resolved these issues. We are now able to focus on the future, and look for Heidelberg to be a key partner going forward."
Heidelberg's Head of Product Center Direct Imaging, Gotthard Schmid stated, "Heidelberg and Presstek have amicably resolved the issues and newly defined their business relationship. This will have a positive impact on Heidelberg's Quickmaster 46-DI business, also to the benefit of Heidelberg's customers."
About Presstek, Inc.
Presstek, Inc. is a leading developer of digital laser imaging and chemistry-free plate technologies for the printing and graphic arts industries. Marketed to world-leading press manufacturers and directly to end users, Presstek’s patented DI®, CTP and plate products eliminate photographic darkrooms, film and toxic processing chemicals, reduce the printing turnaround time and lower the production costs. The company’s Lasertel subsidiary supplies it with the valuable resources necessary for its next generation laser imaging devices. Lasertel also offers strategic opportunities in other markets.
“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995:
Certain statements contained in this News Release constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the strength of the Company’s relationship with Heidelberg and its importance to the Company. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, but are not limited to, the risks of uncertainty of patent protection, the risks of uncertainty of strategic alliances and strategic partnerships, the Company’s dependency on its strategic partners, manufacturing constraints or difficulties, market acceptance of and demand for the company’s products, development of technology capabilities, impact of competitive products and pricing, litigation and other risks detailed in the company’s filings with the Securities and Exchange Commission. The words “looking forward,” “may,” “will,” “look,” “future,” “believe,” “expect,” “estimate,” “anticipate,” “likely” and similar expressions identify forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statement was made. Presstek undertakes no obligation to update any forward-looking statements contained in this news release.
For further information:
Jane Miller, Corporate Relations Manager
Presstek, Inc.
Tel.: +01 (0)603 594 85 85 ext. 3344
E-mail:
jmiller@presstek.com
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Heidelberger Druckmaschinen AG
Corporate Communications
Thomas Fichtl
Tel.: +49 (0)6221 92 47 47
E-mail:
thomas.fichtl@heidelberg.com
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