*NEWS*TONER CO.WANT TO SAVE $1.7MIL IN 06

  • 161213_banner_futorag_902x177px
  • Print
  • big-banner-ad_2-sean
  • toner-news-big-banner-nov-8
  • futor_902x177v7-tonernew
  • 536716a_green_sweep_web_banner_902x17712
  • facebook-tonernews-12-08-2016
  • 05 02 2016 429716a-cig-clearchoice-banner-902x177
  • 4toner4
  • mse-big-banner-new-03-17-2016-416716a-tonernews-web-banner-mse-212
  • cartridgewebsite-com-big-banner-02-09-07-2016
  • 2toner1-2
Share

*NEWS*TONER CO.WANT TO SAVE $1.7MIL IN 06

 user 2006-01-24 at 10:01:00 am Views: 53
  • #13876

    Adsero Working to Achieve an Estimated $1.7 Million in 2006 Savings
    MONTREAL,
    Jan. 2006  — Adsero Corp. (“Adsero”), a North American leader in the
    printer cartridge remanufacturing industry, is pleased to provide
    investors with a corporate update and highlight recent events.

    “Recently,
    we announced the completion of the purchase of 328,500 treasury shares
    of Turbon AG (“Turbon”), bringing our total ownership in Turbon to
    400,000 shares, equivalent to approximately 10% of the issued and
    outstanding stock of Turbon. The 10% transaction was financed through
    the sale by Adsero of a combination of debt securities to Turbon and
    equity securities to the largest individual shareholders, including
    senior management of both Adsero and Turbon. In the process, we also
    raised an additional $2.7 million, much of which was institutional and
    will be used to support our growth.
    “Through a supply agreement with
    Turbon, Adsero has access to a long-term supply of finished goods with
    high quality, lower cost and a capacity which is much greater than our
    current overall capacity. This agreement gives us immediate access to
    state of the art lower cost manufacturing facilities which would have
    otherwise taken Adsero several years to build. We now have the
    capability to improve margins and increase market competitiveness to
    support our ongoing growth initiatives.
    “These initiatives will
    allow Adsero to streamline its costs and today, we are pleased to
    announce that we are in the process of removing an estimated $1.7
    million in annual operating costs out of our business. The savings
    result directly from a reduction in the workforce, through the
    elimination of duplicate functions under the supply agreement with
    Turbon, as well as from the closure of two of our facilities, a sorting
    center in Montreal, Canada, and a distribution center in Memphis,
    Tennessee, during the first quarter of 2006. In addition, we are able
    to reduce spending in other areas such as streamlining our process
    related to the collection of empty toner cartridges. A portion of these
    savings will be realized in the first quarter of 2006, with the
    remainder during the balance of 2006.
    “We will continue to operate
    our manufacturing facility based in Montreal, Canada; however, as
    mentioned above, the manufacture of certain high volume items will be
    outsourced to Turbon facilities. We will continue to produce certain
    products which are more specialized or newer products in our plant.
    “In
    conclusion, we have built a stronger foundation both financially and
    operationally, and we anticipate that we will be in a position to
    leverage the economies of scale that the Turbon relationship brings. We
    look forward to announcing updates on our plans for 2006 in the
    future,” stated Yvon Leveille, President and CEO of Adsero Corp.
    About Turbon AG
    Turbon
    AG (www.turbon.de), through its subsidiaries, develops, produces and
    distributes compatible imaging supplies for Laser, Inkjet, Dot Matrix
    and Thermal Transfer printers. Turbon operates production plants in
    Europe, Asia and the USA had revenues of approximately Euros 123
    million for fiscal 2004.
    About ADSERO Corp.
    ADSERO Corp. ,
    through its wholly owned subsidiary Teckn-O-Laser Global Company, is a
    North American leader in the printer cartridge remanufacturing
    industry. The company manufactures and distributes remanufactured toner
    cartridges and inkjet cartridges. These products are sold to a variety
    of channels such as distributors and retail office supply stores, both
    domestically and internationally.
    Safe Harbor Statements
    Certain
    statements made herein that are not historical are forward-looking
    within the meaning of the Private Securities Litigation Reform Act of
    1995 and may contain forward-looking statements, with words such as
    “anticipate,” “believe,” “expect,” “future,” “may,” “will,” “should,”
    “plan,” “projected,” “intend,” and similar expressions to identify
    forward-looking statements. These statements are based on the Company’s
    beliefs and the assumptions it made using information currently
    available to it. Because these statements reflect the Company’s current
    views concerning future events, these statements involve risks,
    uncertainties and assumptions. The actual results could differ
    materially from the results discussed in the forward-looking
    statements. In any event, undue reliance should not be placed on any
    forward-looking statements, which apply only as of the date of this
    press release. Accordingly, reference should be made to the Company’s
    periodic filings with the Securities and Exchange Commission.