AUGSBURG, Germany, Oct. 7, 2004 (PRIMEZONE) -- As already announced on August 25, 2004 the foundation of a joint venture of Roll Systems Inc. and the Stralfors Lasermax division has been concluded. As of October 1, 2004 the jointly controlled entity has started its operations.
The two entities complement each other well from a geographical perspective. The Lasermax Roll Systems AB joint venture starts as a world leading supplier of high-speed paper handling, converting and monitoring systems for digital printers. The combined market strengths and joint engineering capabilities will allow faster delivery of new solutions to the market as well as greater penetration into existing and emerging markets. The total annual turnover amounts to about 45 million euros. The joint venture employs some 200 people and has its head office in Ljungby, Sweden.
Roll Systems, founded in 1987 and with location in Burlington, Massachusetts, is in North America one of the largest manufacturers of high-speed paper handling, converting and monitoring systems for digital printers. Its products are sold and serviced in over 50 countries. Roll Systems has an annual turnover amounting to 23 million euros and the company employs some 100 people.
Beside Roll Systems Inc., Massachusetts, the Lasermax Roll Systems has subsidiaries in USA, Belgium, UK, and Singapore. Development and manufacturing is concentrated to Ljungby, Sweden. The annual turnover amounts to 22 million euros and the division employs close to 100 people.
This transaction is part of a long-term winding-up of Stralfors engagement in the paper handling equipment industry. The agreement between BOWE SYSTEC and Stralfors gives as from May 2007 Stralfors a right to sell its 50% stake to BOWE SYSTEC and BOWE SYSTEC a right to buy the Stralfors 50% stake in the joint venture.
BOWE SYSTEC International GmbH is a wholly owned subsidiary of BOWE SYSTEC AG acting as holding company for some of BOWE SYSTEC's international activities especially in the U.S. BOWE SYSTEC AG is one of the world's largest suppliers for paper-management systems for high-volume mail processing. In 2003 BOWE SYSTEC group sales totalled a record (Eur) 346 million of which more than 50% was generated in North America. BOWE SYSTEC group world-wide employment totalled 2.662 at June 30, 2004. BOWE SYSTEC's shares are publicly traded in Germany.
Stralfors is an IT-focused Business-to-Business company with a print heritage providing total solutions within the field of information transfer. Stralfors develops, produces and delivers systems, services and products for the efficient communication of information crucial to operating a business. The Group has net sales of SEK 3 billion and operates in 12 countries with a total of 1740 employees. Stralfors "B" shares have been quoted on the Stockholm Stock Exchange since 1984.
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BOWE SYSTEC AG The Board