Presstek Announces Definitive Agreement to Acquire Anocoil Corporation
Presstek, LLC, a leading provider of eco-friendly printing solutions, today announced it has entered into a definitive agreement to acquire the business and operations of Anocoil Corporation. The transaction is expected to close at the end of March subject to closing conditions. Anocoil, founded in 1958, is one of North America's largest independent producers of analog and digital offset printing plates for the newspaper and commercial market segments. Going forward, Presstek and Anocoil will leverage their respective strengths to accelerate the development of new environmentally friendly printing solutions and to provide enhanced services to our valued customers.
David Bujese, Anocoil's President comments, "I, along with all of Anocoil's employees, am thrilled to be partnering with Presstek for the next stage of our Company's growth. With Presstek we have found a strategic partner committed to being an innovative market leader. Together, Presstek and Anocoil are developing a comprehensive strategic plan to provide our customers with the best products and customer service in the industry."
Howard Fromson, Anocoil's founder and Chairman adds, "I am so pleased about this transition. It is really exciting to see long term plans develop that utilize the combined resources, technologies, and knowledge in ways that can better meet our customers' business requirements."
"We are excited about bringing the two companies together as we expand our product offerings and capabilities," said Sparsh Bhargava, Presstek's Chief Executive Officer. "Both Presstek and Anocoil have extremely talented employees and a long history of innovation. We look forward to working with the Anocoil team to build long term value for all of our stakeholders."
