- This topic has 0 replies, 1 voice, and was last updated 9 years, 9 months ago by
.
-
Posts
-
ADSERO Announces Changes in Operating Subsidiary
MONTREAL,
June, 2006 — ADSERO Corp., a North American printer cartridge
remanufacturer, today announced major changes in its Tecknolaser
operating subsidiary.“As part of our continuing plan to streamline our
cost structure, strengthen our balance sheet, optimize around our
innovative channel strategy and become a leader in the global
remanufacturing industry, we have entered into an agreement whereby we
are selling selected assets of our Tecknolaser subsidiary to Turbon
International, Inc. This will allow Tecknolaser and Turbon to leverage
the competencies of each company as well as the go to market and
delivery methods, to be optimized within our respective cost
structures. In addition, as we seek to complete the major transaction
with Turbon, this helps to crystallize the benefits of the overall
synergies between the two organizations. Bringing production under one
roof is part of the overall strategy to complete our objective which we
had announced over a year ago,” stated Yvon Leveille, President and
CEO of ADSERO Corp.Tecknolaser will sell certain customer accounts and
the related inventory to Turbon. In addition certain production fixed
assets will be sold to Turbon as a result of the closure of
Tecknolaser’s production operations in Sainte Julie, Quebec. Turbon
will pay an amount on closing, which is dependent upon the actual
amount of inventory and fixed assets at the time of closing. The
transaction is targeted to close no later than July 31, 2006, but is
dependent upon certain consents being obtained, as well as the
logistics of the transfer of inventory and fixed assets.The resulting
Tecknolaser will be a more focused company with a mandate to continue
to pursue innovative strategies, such as its aggressive push into
non-traditional retail channels for organic growth, and a strong
platform for future acquisitions. The company will have access to
strong production capabilities through the outsourcing of all of its
production to qualified lower cost production facilities within the
Turbon Group’s global centers. The experience that ADSERO has had with
its Turbon relationship has confirmed the ability to improve margins,
maintain high quality levels and increase market competitiveness.About ADSERO Corp.
ADSERO
Corp. (http://www.adserocorp.com ), through its wholly owned subsidiary
Teckn-O-Laser Global Company, is a North American printer cartridge
remanufacturer. 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.About Turbon AG
Turbon
AG (http://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 and had revenues of approximately
Euros 117 million for fiscal 2005.
- You must be logged in to reply to this topic.