*NEWS*INK GROUP SIGNS FOR *AIM*

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*NEWS*INK GROUP SIGNS FOR *AIM*

 user 2005-12-12 at 9:47:00 am Views: 56
  • #13831

    Ink group signs for AIM
    DEC 2005
    Cartucho, developer of ink-cartridge refill ‘kiosks’, is seeking £10 million ahead of an AIM float early next month.
    Broker
    Collins Stewart is handling the placing for Cartucho, which is expected
    to value the company at between £25 and £30 million. Headed by chief
    executive Mike Willcocks, the company has developed a ‘kiosk’ through
    which users can refill cartridges used in ink-jet printers.
    Cartucho
    is targeting a market that is forecast to be worth £28 billion
    worldwide by 2008. By providing a way to refill used cartridges, the
    company hopes to mount a significant challenge to replacement
    cartridges, currently used, which can cost more than the printers they
    support and also present environmental challenges because they can take
    hundreds of years to decompose.
    One important player has already
    come on board, in the shape of OfficeMax, the third largest office
    supplies group in the USA, which has agreed to integrate Cartucho’s
    kiosks in its flagship stores. The flotation funds will be used to
    finance this launch.
    Willcocks enthuses ‘this is our first major
    deal. We are also in advanced negotiations with several other
    high-profile retailers in the US and Europe’.