LEXMARK @ 15 :A HISTORY OF PRINTING

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LEXMARK @ 15 :A HISTORY OF PRINTING

 user 2006-03-29 at 11:59:00 am Views: 66
  • #15205

    LEXMARK AT 15: PRINTING A HISTORY
    They’ve come a long way from typewriters
    Jan.
    24: Lexmark announces it will eliminate or transfer 1,350 jobs
    worldwide, including as many as 200 in Lexington, as part of a
    restructuring to reduce costs.

    1990
    Aug.
    1: IBM announces it will sell at least 80 percent of its Information
    Products operation, including its Lexington plant, to buyout firm
    Clayton & Dubilier. Marvin Mann, far right, an IBM vice president
    who oversaw the Lexington plant in the mid-1980s, is selected as CEO.

    1991
    March
    27: Clayton & Dubilier completes the $1.5 billion purchase of IBM’s
    Information Products subsidiary. The company is named Lexmark
    International. (“Lex” was inspired by “lexicon,” meaning vocabulary or
    words. “Mark” referred to “marks on paper,” IBM’s internal nickname for
    its typewriter and printer operations.) Lexmark gains IBM’s Lexington
    plant, which produced typewriters, printers, keyboards and office
    supplies, as well as plants in OrlŽans, France, and Boulder, Colo.
    Lexmark retains the right to use the IBM brand through 1996.

    1994
    Oct. 24: Lexmark unveils the Optra series, left, the first printers marketed solely under the Lexmark brand.
    1993
    Nov. 4: President Bill Clinton, left, speaks about the North American Free Trade Agreement at Lexmark.

    1992
    March
    27: On the company’s first anniversary, left, Mann leads a ceremony
    with 1,500 employees to unveil a street sign on company property.
    1995
    1996
    Feb.
    20: Lexmark announces it will move its headquarters from Greenwich,
    Conn., to Lexington. The move involves fewer than a dozen employees. In
    the same quarter, Lexmark breaks ground for an ink-cartridge plant in
    Ciudad Ju‡rez, Mexico. About the same time, Lexmark stops producing
    keyboards, below. Keyboards, sold primarily to IBM, accounted for
    $40-$50 million in sales each quarter.
    Sept. 25: Mann announces
    Lexmark will invest $80 million in an expansion to add more than 1,000
    jobs at its plant in Lexington, increasing its local work force to more
    than 5,500, to boost production of inkjet printer cartridges.
    Oct.
    3: Lexmark announces it will open a $42 million plant in Rosyth,
    Scotland, to produce ink cartridges. (Lexmark announces in January 2006
    it will close the plant.)
    Nov. 15: Lexmark goes public, selling 17.1
    million shares priced at $20 each. Shares trade under the symbol LXK on
    the New York Stock Exchange, which is opened with a call to post by
    Keeneland bugler George “Bucky” Sallee.
    1998
    1997
    May 1: Paul Curlander is promoted to chief executive officer, replacing Mann, who remains chairman.
    May
    19: Lexmark announces a partnership with Compaq to manufacture printers
    for the then-PC giant, which sells them under the Compaq brand. The
    arrangement ends after Hewlett-Packard acquires Compaq in 2002.
    Feb.
    17: Mann announces that future CEO Curlander, left, has been named to
    the newly created positions of president and chief operating officer.
    Curlander also joins the board of directors.
    1999
    April 29:
    Lexmark, which earlier in the month has joined the Fortune 500 at No.
    486, announces its stock will split in the next two months. The company
    also announces that Mann will retire as chairman, although he will
    remain on the board. Curlander replaces Mann as chairman.
    May 27:
    Lexmark announces it will build a new R&D facility in Lexington and
    add 700 jobs, mostly in engineering. The company does not add all 700
    by a specified time, preventing it from receiving more than $3 million
    in state incentives.
    Aug. 31: Lexmark announces it has broken ground
    on an inkjet products plant in Chihuahua, Mexico. The company also says
    it is expanding its inkjet plant in Ciudad Ju‡rez.
    Oct. 8: Lexmark
    and Eastman Kodak announce a long-term development and marketing
    relationship for digital photography inkjet printers. In September, the
    companies launch the Kodak Personal Picture Maker by Lexmark, above.

    2002
    Sept. 24: Dell says it will partner with Lexmark, who will make printers sold under Dell’s brand.
    Nov. 7: Lexmark gets out of the typewriter business.
    Dec.
    30: Lexmark sues Static Control Components, which makes and sells
    computer chips that enable remanufactured toner cartridges to work in
    Lexmark printers.

    2001
    Oct. 22: Lexmark announces it will eliminate 1,600 jobs worldwide, including 625 in the United States, largely in Lexington.
    Oct.
    29: Lexmark unveils the C750 color laser printer, above. The model is
    the first to use Lexmark’s own internally developed color laser
    printing engine.

    2000
    May 1: Lexmark introduces the Z52 Color
    Jetprinter, right, the first inkjet to deliver 2,400-by-1,200 dpi (dots
    per inch) in both black and color on all paper types. The printer
    retails for less than $200.
    Oct. 23: Lexmark says 600 Lexington
    employees will be offered buyouts or be laid off as it shifts
    production of its Optra line of laser printers to plants in Mexico and
    China.
    Oct. 18: Lexmark announces it will add 100 jobs, mostly in engineering, in Lexington.
    Oct.
    26: The 6th U.S. Circuit Court of Appeals lifts an injunction barring
    Static Control Components from selling computer chips that allow the
    refilling of toner cartridges for Lexmark printers.
    2003
    April 29: Lexmark unveils the PrinTrio X1150, right, the company’s first all-in-one priced less than $100.
    2004
    2005
    Oct.
    4: Lexmark cuts its earnings forecast by more than half. The company’s
    stock falls more than 28 percent, dropping $17.44 to close at $43.50.

    2006
    BUYS A FEW CONGRESSMEN & SENATORS SO THEY CAN MONOPOLY OUR INDUSTRY….