HAMDEN, Conn., April 30, 2012 (GLOBE NEWSWIRE) -- TransAct Technologies Incorporated (Nasdaq:TACT), a global leader in providing market-specific printing solutions for transaction-based and other industries, announced today that it is launching a new line of Printrex branded printers for the oil and gas industry.
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"On the heels of the successful launch of our new Ithaca terminals and printer, we are introducing today two new Printrex branded printers that will greatly enhance printing for the oil and gas industry," said Bart C. Shuldman, Chairman and Chief Executive Officer of TransAct Technologies. "We believe our current customers and potential new customers will be extremely impressed with the color, speed and continuous log printing ability of the Printrex 980, as well as providing color printing along with the reliability to withstand the rigors of trucking and offshore platforms and capability to print without ink cartridges or ribbons of the Printrex 920. With today's announcements, TransAct once again proves that it is at the forefront of innovating printing solutions, and continues to expand its presence in the multi-billion dollar oil and gas industry."
The newest Printrex products include the following:
Printrex 920 – The Printrex 920 is the first color printer tough enough to ride shotgun. Designed for the oil and gas well logging market, the Printrex 920 is built with rugged reliability and to perform in the adverse environment of a logging truck or offshore platform. Printrex 920 uses ZINK® Zero Ink® – an amazing new way to print in full color without ink cartridges or ribbons – and can also print in black and white on standard thermal paper. The printer is available in both desktop and rack-mount configurations, and provides an easy path to upgrade existing logging systems to full color. TransAct is launching the new Printrex 920 today at the Offshore Technology Conference (OTC 2012) in Houston, Texas.
Printrex 980 – The Printrex 980 is the fastest well log color printer for the office for the oil and gas industry, at a plot speed of 8 inches per second, with unparalleled reliability and the ability to plot continuous logs. Print quality enhancement features include Depth Line Accuracy which ensures the accuracy of scale, Stitching Stream Technology to ensure no gaps in plotting even when the printer temporarily lacks data and Automatic Image Shifter to extend print head life. In addition, the printer has no limitation on plot length, allowing for continuous printing throughout a log. Along with four separate ink tanks which permit an easy exchange of each individual color and a low total cost of ownership, the Printrex 980 will be the first choice for discerning oil and gas companies. The Printrex 980 is also being launched today at OTC 2012.
For more information on both products, please visit http://www.printrex.com/html/color_plotters.html.
About TransAct Technologies Incorporated
TransAct Technologies Incorporated (Nasdaq:TACT) is a leader in developing and manufacturing market-specific solutions, including printers, terminals, software and other products for transaction-based and other industries. These industries include casino, gaming, lottery, banking, kiosk, point-of-sale, food safety, hospitality, oil and gas, and medical and mobile. Each individual market has distinct, critical requirements for printing and the transaction is not complete until the receipt and/or ticket is produced. TransAct printers and products are designed from the ground up based on market specific requirements and are sold under the Ithaca®, Epic and Printrex® product brands. TransAct distributes its printers through OEMs, value-added resellers, selected distributors, and direct to end-users. TransAct has over two million printers installed around the world. TransAct is committed to world-class printer service, spare parts and accessories required by a growing worldwide installed base of printers. Beyond printers, TransAct is a leader in providing printing supplies to the full transaction printer market. Through its TransAct Services Group, TransAct provides a complete range of supplies and consumables items used in the printing and scanning activities of customers in the hospitality, banking, retail, gaming, government and oil and gas exploration markets. Through its webstore, http://www.transactsupplies.com, and a direct selling team, TransAct addresses the on-line demand for these products. TransAct is headquartered in Hamden, CT. For more information, please visit http://www.transact-tech.com or call 203.859.6800.
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Forward-Looking Statements:
Certain statements in this press release include forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology, such as "may", "will", "expect", "intend", "estimate", "anticipate", "believe" or "continue" or the negative thereof or other similar words. All forward-looking statements involve risks and uncertainties, including, but are not limited to, the Company's ability to successfully integrate the Printrex business with its existing operations; customer acceptance and market share gains, both domestically and internationally, in the face of substantial competition from competitors that have broader lines of products and greater financial resources; introduction of new products into the marketplace by competitors; successful product development; dependence on significant customers; dependence on significant vendors; dependence on contractor manufacturers for the assembly of a large portion of our products in China; the ability to protect intellectual property; the ability to recruit and retain quality employees as the Company grows; dependence on third parties for sales outside the United States, including Australia, New Zealand, Europe, Latin America and Asia; economic and political conditions in the United States, Australia, New Zealand, Europe, Latin America and Asia; marketplace acceptance of new products; risks associated with foreign operations; availability of third-party components at reasonable prices; price wars or other significant pricing pressures affecting the Company's products in the United States or abroad; and risks associated with potential future acquisitions. Actual results may differ materially from those discussed in, or implied by, the forward-looking statements. The forward-looking statements speak only as of the date of this release and the Company assumes no duty to update them to reflect new, changing or unanticipated events or circumstances.
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