Entrepreneur Sitting On $800M of Back Orders For New Printer

[Anonymous]

Israeli Entrepreneur Sitting On $800M of Back Orders For New Printer

Landa to raise $150-200 mln for new printer venture -paper
Israeli entrepreneur Benny Landa plans to raise $150-200 million to fund a new venture that will produce state-of-the-art industrial printers built on nanotechnology, the financial newspaper Calcalist reported on Monday.

Landa will travel to London next week where he will choose the underwriting banks, Calcalist said, after he already received $800 million worth of back orders for the printers, which were unveiled in May.

Landa prefers to keep the company in private hands and will raise capital from foreign institutional and private investors, the paper said.

Officials at Landa Corp would not comment on the report.

Another of Landa’s printing companies, Indigo, was sold to Hewlett-Packard in 2001 for about $1.5 billion.

Based on a process called "nanography", the new industrial-sized printers use tiny drops of ink to produce quick-drying and high quality images at high speeds, the company says.

Each unit has a price tag of 2 million euros ($2.58 million), Calcalist reported. The project is still in its development stage, and once completed, will include a large production line for the printers, the report said.

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October 16, 2012 at 7:38 AM