FUJIFILM TO TRANSFER ALL SHARES OF ITS MANUFACTURER OF ELECTRONIC PRE-PRESS EQUIPMENT – FUJIFILM ELECTRONIC ENGINEERING LTD
October 2006 FUJIFILM Corporation (hereinafter “Fujifilm”) has announced today that it resolved a decision at its Board of Directors meeting to proceed with the transfer of shares in its manufacturer of electronic pre-press equipment, FUJIFILM Electronic Imaging Ltd. (hereinafter “Fujifilm-Electronic”). All shares are scheduled for transfer on October 31, 2006, to the current management team of Fujifilm-Electronic.
Established in 1997 as a wholly-owned subsidiary of Fujifilm, Fujifilm-Electronic manufactures and supplies electronic pre-press equipment and software. The business model of combining its equipment and software with Fujifilm’s graphic consumable products has brought about big growth for FUJIFILM Graphic Arts business which has now become one of the core businesses for Fujifilm.
As part of a strategic re-consideration for the further growth of Fujifilm business, Fujifilm-Electronic and Fujifilm concluded a comprehensive review of Fujifilm-Electronic’s long-term role within Fujifilm’s Graphic Arts business. In accordance with this review and also a proactive proposal from Fujifilm-Electronic’s current directors, the decision was taken under an agreement between Fujifilm and Fujifilm-Electronic, that with a management buyout from Fujifilm’s Graphic Arts group, the company can realize long-term success through the utilization of its unique products and technology. Both Fujifilm-Electronic and Fujifilm have amicably agreed that it is the best way for both parties to maximize the value of its future and provide security for the companies CTP equipment business
From 31st October, 2006 Fujifilm-Electronic will be established as a new company with the new corporate name “FFEI Ltd.”. Andy Cook, Managing Director of the new company said, “By becoming an independent company, FFEI Ltd will play the role of a unique and strategic partner in support of FUJIFILM’s CTP plate sales growth, but we will also have the opportunity to expand our equipment and software products into new markets and business areas. Our existing customers will also benefit from this change through the improved focus on customer support and on-going product development both areas the business will continue working on in close cooperation with FUJIFILM .”
Nobuaki Inoue, Corporate Vice President of Graphic Arts Business said, “FUJIFILM will maintain a continuous, close relationship with the new company in the field of software and equipment development, manufacture and sales in the graphic business. FUJIFILM’s long-term goal is to become the leading supplier in the CTP market and we see Violet CTP technology as an essential component to achieve this. FUJIFILM, as a total solution provider, will continue its commitment to the Graphic Arts business by accelerating its R&D of CTP systems and expanding in the new business field of Digital Printing which is expected to penetrate the Graphic Arts market in the near future.”