MacDermid, Inc. Sells its MacDermid ColorSpan, Inc. Subsidiary to Hewlett Packard
MacDermid, Incorporated announced today that it has signed a definitive agreement to sell its MacDermid ColorSpan, Inc subsidiary to Hewlett Packard. Based in Minnetonka, Minnesota, ColorSpan is a manufacturer of wide-format digital inkjet printers and a leader in UV-curable technology. ColorSpan's products are sold globally to the display graphics market, and is a key supplier to sign shop franchises, quick printers, and other small to mid-size sign-making and screen-printing businesses.
"While we have enjoyed significant growth under MacDermid's leadership, the combination of Hewlett Packard and ColorSpan will provide our customers and channel partners with an expanded mix of quality, value, and choice that is unmatched in the digital graphics printing industry," said ColorSpan President Robert Wenzel, who will lead the new product line at Hewlett Packard. "Additionally, ColorSpan customers will continue to enjoy the same high levels of attention they are used to receiving."
MacDermid was advised by Credit Suisse on this transaction. The sale is subject to customary closing conditions. Financial terms of the transaction were not disclosed. The Company expects the transaction to close sometime in Q4. Upon completion of the sale, ColorSpan will be integrated into the Graphic Arts organization within the Imaging and Printing Group at Hewlett Packard.
All media inquiries are to be directed to Emma McCulloch at 650-857-4183 or emcculloch@hp.com.
About MacDermid
MacDermid Inc. is a leading global provider of high value-added specialty chemicals and technical services. MacDermid serves the metal and plastics finishing, electronics, oil production and drilling, and graphic arts markets. Established in 1922, MacDermid employs over 2,500 in operating facilities in over 20 countries.
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