Presstek Receives New Revolving Credit Facility, Completes Sale of its Lasertel Subsidiary
“The sale to SELEX places Lasertel into a large organization whose core business is closely aligned with Lasertel’s mission,” commented Jacobson. “At the same time, it allows Presstek to focus on our core business. While selling Lasertel has been a key objective during the past year, we needed to ensure that we received an appropriate value for Lasertel. We are pleased that we are able to accomplish that objective with this sale.”
“Today we have announced the completion of two critical milestones in driving Presstek forward. The closings of the Lasertel sale and the new credit facility represent major steps toward clearing the way for Presstek to fulfill its strategic goals,” added Jacobson. “These types of activities can take an enormous amount of time and effort to complete. We look forward to the opportunity to increase, even more, our focus on driving our strategy and delivering our message to the market.”
About SELEX Galileo Inc.
SELEX Galileo Inc. is headquartered in Arlington, VA, and has locations in Huntsville, AL; Stennis, MS; Fort Walton Beach, FL and Norcross, GA, among other locations. It is wholly owned by SELEX Galileo Limited.
Lasertel, Inc., headquartered in Tucson, AZ, uses state-of-the-art equipment and patented processes to deliver standard and custom laser diode solutions to meet the requirements of demanding applications for a variety of industries.
Presstek, Inc. is the leading manufacturer and marketer of high tech digital imaging solutions to the graphic arts and laser imaging markets. Presstek’s patented DI®, CTP and plate products provide a streamlined workflow in a chemistry-free environment, thereby reducing printing cycle time and lowering production costs. Presstek solutions are designed to make it easier for printers to cost effectively meet increasing customer demand for high-quality, shorter print runs and faster turnaround while providing improved profit margins. For more information visit www.presstek.com or call 603-595-7000 or email: email@example.com.