Scitex (Nasdaq: SCIX), a provider of digital printing solutions, today announced that one of its subsidiaries had won a multi-year contract with a potential value of $30 million.
Tel Aviv-based Scitex said that its wholly- owned subsidiary, Scitex Digital Printing, Inc., was selected to supply high-speed digital printing systems to the Caisse Nationale d'Assurance Maladie des Travailleurs Salaries (CNAMTS), the health branch of the French social security system.
This was CNAMTS’s second selection of Scitex Digital Printing since 1998. According to Scitex, the contract has the potential to generate $30 million in equipment and service revenue over a five-year period, with about two-thirds of the amount in equipment revenue.
Scitex says the new digital printing systems to be supplied to CNAMTS feature the latest Business Color technology from Scitex Digital Printing and are designed for full color, page-wide printing at industrial production speeds with a low cost of operation.
"The French social security system with its requirement to reach millions of subscribers is an ideal fit with our digital printing technology," said Scitex Digital Printing president and CEO Nachum "Homi" Shamir. "We are pleased and gratified that this highly respected organization has embraced our Business Color technology and has once again chosen Scitex Digital Printing for its printing solution."
Scitex Digital Printing, Inc. is based in Dayton, Ohio, and develops ultra-high-speed digital printing solutions for a variety of applications ranging from addressing to bill and statement printing. Scitex Digital Printing's products include the VersaMark high-resolution page printing systems and the Dijit range of narrow format printers.
Scitex shares trade both on the Nasdaq and the Tel Aviv Stock Exchange. The company’s Nasdaq share closed on Friday at $1.70, reflecting a market value of $75 million.
Published by Globes [online] - www.globes.co.il - on 5 May, 2003