05 Dec 2019

EFI Announces Connect Keynote Speakers, Posts Full Class Schedule

Efi Connect

EFI, a world leader in customer-focused digital printing innovation, today announced the keynote speakers for the 11th annual Connect users' conference taking place April 18 to April 21 at the Wynn Las Vegas - Robert Tapella and Joan B. Davidson. The complete schedule of over 120 break-out sessions is also now available online at www.efi.com/connect including "best-practices" discussions and valuable training opportunities for EFI Monarch (Hagen), Pace, PrintSmith, Logic and PSI. Additionally, product demonstrations and educational sessions will cover EFI Fiery, VUTEk and Jetrion solutions.

Robert Tapella is the nation's 25th Public Printer and serves as the Chief Executive Officer of the U.S. Government Printing Office. Responsible for more than $1 billion in print-related revenue, Tapella will share his print industry insight based on his experience overseeing production and distribution of information products and services for all three branches of the Federal Government. He will address the conference on opening night, Sun., April 18th.

On Tues. morning April 20th, attendees will hear from Joan B. Davidson, Group President of Sheridan Publications Services at The Sheridan Group, and recent recipient of the prestigious NAPL Soderstrom Award. Davidson will share a wealth of in-depth knowledge of operational efficiency improvements gleaned from industry experience that includes her recent tenure as Chairman of the NAPL Board of Directors.

"We're excited for Connect attendees to hear from these two great industry insiders, and to take away valuable insights and lessons they can apply in their own roles," said Frank Mallozzi, senior vice president of worldwide sales and marketing, EFI. "Keynote presentations are just one part of the Connect experience - leaders from around the globe can attend in-depth educational sessions, test drive the latest EFI products and industry vendor offerings, voice their opinions at user group meetings, discuss industry trends, and network with peers, all while enjoying the luxurious Wynn Las Vegas at a special rate of $169 a night. Connect is an excellent opportunity for print providers to position their business for the months and quarters to come."

Sheila Morgan, owner of Lipps Printing in New Orleans, said: "During a downturn in the economy, we attend Connect to look for the next thing we can do to make things better, to prepare our business. There's always something we learn -- the interaction with other users, other owners and the EFI staff is invaluable."

This year's conference will also host the first annual Connect Auction. The live auction will be held during the sponsors' appreciation reception on Mon., April 19th, and will feature over 50 items including everything from add-on software and consulting services to a new management system. Most items will be offered with a very low reserve or with no reserve at all. Auction items will be provided by EFI and participating partners and a portion of all proceeds will go to the Print & Graphics Scholarship Foundation (PGSF).

For more information on Connect 2010 and to register, go to www.efi.com/connect

 

Canon aids earthquake relief efforts in Haiti

Canon Logo

On January 12, a powerful earthquake struck the Republic of Haiti, causing extensive destruction and loss of life. We at Canon extend our heartfelt condolences to all those affected by this disaster and our thoughts go out to those suffering in its aftermath.

While we realise that the road to recovery will be challenging and time-consuming, we hope that the region will soon be able to begin the rebuilding and healing process.

The Canon Group is contributing in the relief efforts for victims of the earthquake through donations to the Japanese Red Cross Society and other humanitarian aid organizations totaling 20 million yen (approximately GBP £140,000).

XL Print delivers giant Christmas card thanks to the HP Scitex FB6100 Printer

HP Scitex FB6100

The versatility and productivity of the HP Scitex FB6100 Printer enabled XL Print, of Portsmouth, to create a 3.5m x 10m Christmas card for Margaret Hodge, Minister of State for Culture, Media & Sport, to increase awareness for Portsmouth and Southampton's bid for the 2013 European City of Culture.

XL Print printed the Christmas card, envelope and stamp using its HP Scitex FB6100. The finished job was completed in just three hours and comprised 75m² of corex as well as a paper envelope, which was stamped and addressed to the Minister of Culture Media & Sport. The Christmas card was then assembled and delivered to Trafalgar Square within 24 hours.

"The HP Scitex FB6100 is the only printer on the market which converts from a roll-to-roll to flatbed configuration which offered us the perfect balance between wide format, high quality and speed. The printer enabled us to create something unique, while ensuring high quality results," said Avi Hochshteadt, director, XL Print.

With a portfolio comprising the HP Scitex FB6100 Printer, HP Scitex XP5100 Printer, HP Scitex XP5300 Printer and HP Designjet 10000 Printers, XL Print targets niche markets with needs for high quality wide format prints such as banners, backlit in large format light boxes, POP/POS displays, vehicle graphics and building wraps.

XL Print

 

Canon bid for Oce may be in Jeopardy say Bloomberg

Canon logo

Bloomberg have today reported that Canon Inc.’s $1.1 billion bid for Oce NV may be in jeopardy after holders of 13 percent of the Dutch company said they won’t tender their shares and a group representing about 200 investors said the offer was too low.

Hermes Focus Asset Management Ltd., with 3.3 percent, said on Jan. 11 it won’t tender its shares, calling the Canon offer “meager.” Orbis Funds, with about 10 percent of Oce, in November rejected Canon’s bid. Investor group VEB, which represented 211 shareholders with about 0.003 percent of Oce at its last shareholders meeting, judged the bid too low.

Tokyo-based Canon, the world’s largest camera maker, may have to raise its offer or lower its minimum threshold to below 85 percent of Oce’s outstanding shares to see the deal through should more investors oppose it. With the takeover, Canon is seeking to expand its printer operations and widen its lead in the global market for office equipment.

“If Canon’s determination for completion of the transaction is strong, it’s possible the company will add some premium after discussing with Oce’s investors,” said Hisashi Moriyama, a Tokyo-based analyst at JPMorgan Chase & Co. “On the other hand, Canon could drop the plan, if the company judges adding premiums isn’t merited.”

Canon in November agreed to buy Oce, the world’s largest maker of wide-format printers, for about 730 million euros ($1.1 billion) in cash. The company said Nov. 16 it would pay 8.60 euros a share, or 70 percent higher than Venlo, Netherlands- based Oce’s last closing price.

 

‘Not in a Hurry’

“We believe we are offering an adequate price,” Ichisei Hanada, a spokesman for Canon, said yesterday. “There’s no change to our plan to start the offer by March 31,” he said. Canon hasn’t received letters from investors similar to those from Hermes and Orbis, he said.

Oce, which yesterday reported a fourth-quarter net loss of 23 million euros, fell 0.02 percent in Amsterdam yesterday to 8.59 euros, close to the Canon offer price.

“Looking at the share price, investors are not anticipating the bid will be raised,” said Niels de Zwart, an Amsterdam-based analyst at Fortis Bank Nederland. “The market seems to think: This bid will go ahead at 8.60 euros, no matter what these shareholders are saying.”

Since Canon has indicated that it will largely let Oce operate on a stand-alone basis in the first three years, it “may not be in a hurry to get 100 percent of the shares,” said De Zwart, who has a “sell” rating on Oce.

He said it is unlikely Canon will withdraw its bid entirely. “Canon aims to become the number 1 in printing and to get there, they need Oce.”

 

Canon Supporters

The deal would be Canon’s biggest purchase, giving it control of the world’s largest maker of machines that make blueprints and advertising posters. Ricoh Co., Japan’s second- biggest maker of office equipment, in 2008 agreed to buy Malvern, Pennsylvania-based Ikon Office Solutions Inc.

Canon’s offer was 1.2 times Oce’s projected book value per share for the year ending November, according to the average of six analyst estimates. That was in line with projected multiples at office equipment makers such as Xerox Corp. and Brother Industries Ltd.

Ducatus NV, ASR Nederland NV and ING Groep NV, which hold about 19 percent of Oce’s share capital, have agreed to sell their stakes to Canon, Oce said Nov. 16. Bestinver Gestion SA, holder of about 9.5 percent of the outstanding stock, provided an irrevocable undertaking to tender. Canon said on Dec. 1 that it held 25.3 percent of Oce’s ordinary shares.

 

‘Weakness’

Pictet & Cie, Sparinvest funds and Stichting Pensioenfonds ABP, which own about 5 percent each of Oce, according to Bloomberg data, declined to comment on whether they plan to tender their shares.

The Dutch shareholder association VEB said the price doesn’t fully reflect the savings that can be expected when Oce operates within a stronger group.

“Oce was negotiating from a position of weakness,” David Tomic, a spokesman for VEB, said in a telephone interview yesterday. “That makes it unlikely that a good price was offered.”

Orbis Funds, the Bermuda-based manager of $20 billion in assets that challenged Warren Buffett’s bid for Clayton Homes Inc. in 2003 and led investors in pressuring Citigroup Inc. to raise its offer for Nikko Cordial Corp., in November rejected Canon’s bid. The fund said Canon’s offer “significantly undervalues” Oce’s assets.

 

No Counterbid

Hermes this week said Canon’s indicative bid was “a meager representation of the true value of Oce, when profitability potential and the depressed share price are put into a proper perspective.”

“Following integration with Canon, and with profitability in line with industry standards, the company’s equity would indicatively be worth some 75 percent more than the offer price,” Hermes said.

Oce’s management said it still supports the takeover.

Fortis’s De Zwart said it’s unlikely there will be a counter offer for Oce.

“A bidding war is unlikely as other potential buyers already indicated they are not interested,” he said. Konica Minolta Holdings Inc., the Japanese lens and office-equipment maker, on Nov. 17 said it had no plan to counter Canon’s offer.

Oce reports net loss of €23 million in the fourth quarter

 

Oce logo

Oce reports net loss of €23 million in the fourth quarter

Action program on track

 

Highlights fourth quarter:

 

  • Market development continued to affect printing industry strongly
  • Revenues € 683 million (-11% organically)
  • Normalized operating income € 16 million
  • Restructuring costs € 27 million
  • Net loss € 23 million

 

 

Highlights full year:

 

  • Free cash flow € 82 million
  • Cost-cutting measures delivered results (€ 154 million)

 

 

Comments by Rokus van Iperen, Chairman of the Board of Executive Directors: "Our revenues continued to decline in the fourth quarter as customers remained uncertain about the economic situation and sustained their efforts to reduce costs. Towards the end of the year, we saw some bottoming out in the sales of continuous feed systems in the United States.

We are on track with the implementation of our action program related to job reductions and saving out-of-pocket expenses. Although we have spent a significant amount on restructuring, we improved our cash flow by further reducing inventories and trade receivables. Our net debt developed positively for the third consecutive quarter.

In 2010, we anticipate that the markets will remain challenging. In order to further strengthen our competitive position and drive sales under difficult market conditions, we will continue to introduce innovative products.

The fourth quarter was marked by the important announcement of Canon’s intended recommended offer for Océ, which is aimed at creating the global leader in the consolidating printing industry. In the meantime, the transaction process is on track and all relevant anti-trust approvals have been obtained."

 

 

 

 

Not-for-Profit Exhibitors Snatch Up Space at Ipex 2010 Knowledge Centre

Knowledge Centre at IPEX 2010

The brand new Ipex 2010 Knowledge Centre has been greeted enthusiastically by a wide range of not-for-profit organisations around the world. Designed to heighten the visitor experience and maximise time at the event, the Knowledge Centre provides an easily accessible information hub where visitors can seek advice from trade association about memberships, pensions, industry accreditation, best industry practice as well as educational matters.

Says Trevor Crawford, Event Director for Ipex 2010: “The reaction to the Knowledge Centre has been extremely positive and we’re delighted with the calibre of names that have signed up to exhibit. The features and initiatives at Ipex have become one of Ipex’s cornerstones that offer opportunities for learning and finding cost-reducing and profit-making answers. Nowhere else can you as easily investigate and compare, review and analyse business issues to gain that all important competitive edge.”

He continues: “All Knowledge Centre partners will receive a small exhibition pod which is fully equipped with furniture and electrics. All they need to provide is someone to look after visitors and bring their own display material. There’re only a handful of pods left so we would urge other not-for-profit organisations that are interested in exhibiting to get in touch as soon as possible.”

Leading trade bodies already confirmed on the floor plan include: the Asian Flexographic Technical Association; the Forest Stewardship Counsel (FSC); the Ghent Workgroup; the Independent Print Industries Associations (IPIA); the International Print Purchasing Standards Association (iPPSA); the London College of Communication; the National Association of Paper Merchants (NAPM); the Printers Charitable Corporation; PrintIT!; Printing Industries Association of Australia; the Printing Industry Pension Scheme (PIPS); Programme for the Endorsement of Forest Certification (PEFC); National Association of Paper Merchants (NAPM); the Welsh Centre of Printing & Coating.

Andrew Bartlett, Chairman of the iPPSA comments: “The Ipex 2010 Knowledge Centre is a great new idea and will be the ideal route for us to reach a wider international audience. People, information and knowledge are companies’ most valuable assets and the key to their future prosperity. The Knowledge Centre provides the perfect platform to learn about better practices and new ways to do business. Everyone is looking to boost their business and this area should stimulate minds and positive change.”

Attached to the feature will be a seminar theatre in which participating organisations can book presentation slots via a centralised booking system. These sessions will last 30 minutes and are free-of-charge for visitors to attend. The Ipex organisers will promote the Knowledge Centre feature, including the presentations globally in the run up to the event as well as during each day at the show. Check out the latest programme at www.ipex.org/knowledge

Not-for-profit organisations who would like to be considered for the Ipex 2010 Knowledge Centre feature can apply directly to Peter Orford at This email address is being protected from spambots. You need JavaScript enabled to view it. or phone him on +44 (0)20 337 73384.