Imagistics International Inc. Acquires Doering & Brown Corp. of London, Ontario, Canada
03 Septembre 2004 - 3:00PM
PR Newswire (US)
Imagistics International Inc. Acquires Doering & Brown Corp. of
London, Ontario, Canada Expands sales, distribution and service
capability in Canadian market TRUMBULL, Conn., and LONDON, Ontario,
Sept. 3 /PRNewswire-FirstCall/ -- Imagistics International Inc.
(NYSE:IGI), an international direct sales and service imaging
solutions company, today announced that it has acquired Doering
& Brown Corp., one of the oldest and largest independent copier
and multifunctional products dealerships in Canada. Doering &
Brown, founded in 1965, operates six branches in Western Ontario
and employs 70 people servicing an installed base in excess of
8,000 units province-wide. Doering & Brown recorded
approximately $7 million (CDN) in revenue for its fiscal year
ending in July 2004. In making the announcement, Imagistics
President and Chief Operating Officer, Joseph Skrzypczak,
commented, "The Doering & Brown acquisition supports
Imagistics' strategy to expand its international presence by adding
additional service and distribution capabilities in the important
Canadian market." Mr. Skrzypczak added, "Doering & Brown is a
well recognized company with a reputation for delivering superior
customer service. This acquisition will also enhance our ability to
provide direct service to our broad portfolio of global and
U.S.-based national and major account customers." The newly
acquired Doering & Brown operation will report to George Clark,
Imagistics Vice President and General Manager, Business Products
Centers. "We are excited to join Imagistics and to have the
opportunity to bring Imagistics' superior line of products and
solutions to our customers," said Mark Welfred, owner of Doering
& Brown. "Our sale to Imagistics is a strategy that puts our
well-established Canadian company in a position to experience much
more growth." About Imagistics International Inc. Imagistics
International Inc. (NYSE:IGI) is a large direct sales, service and
marketing organization offering document imaging solutions,
including high performance, leading edge copier/MFPs and facsimile
machines to Fortune 1000 companies and other organizations. Its
direct sales and service network is located throughout the United
States, Canada and the United Kingdom. Imagistics International is
a member of the S&P SmallCap 600 Index and the Russell 2000
Index(R) and is headquartered in Trumbull, Connecticut. For
additional information about Imagistics International, please visit
http://www.imagistics.com/ and http://www.igiinvestor.com/. The
statements contained in this news release that are not purely
historical are forward-looking statements, within the meaning of
the Private Securities Litigation Reform Act of 1995, that are
based on management's beliefs, certain assumptions and current
expectations. These statements may be identified by their use of
forward-looking terminology such as the words "expects,"
"projects," "anticipates," "intends" and other similar words. Such
forward-looking statements involve risks and uncertainties that
could cause actual results to differ materially from those
projected. These risks and uncertainties include, but are not
limited to, general economic, business and market conditions,
competitive pricing pressures, timely development and acceptance of
new products, our reliance on third party suppliers, potential
disruptions in implementing information technology systems,
including the recent ERP implementation, potential disruptions
affecting the international shipment of goods, our ability to
create brand recognition under our new name and currency and
interest rate fluctuations. For a more complete discussion of
certain of the risks and uncertainties that could cause actual
results to differ from those contained in the forward-looking
statements, see "Risk Factors" in the Imagistics 2003 Form 10-K and
other SEC filings. The forward- looking statements contained in
this news release are made as of the date hereof, and we do not
undertake any obligation to update any forward-looking statements,
whether as a result of future events, new information or otherwise.
DATASOURCE: Imagistics International Inc. CONTACT: Timothy E.
Coyne, Chief Financial Officer of Imagistics International Inc.,
+1-203-365-2364, ; or Todd Miller of Cubitt Jacobs & Prosek
Communications, +1-203-378-1152, ext. 149, , for Imagistics
International Inc. Web site: http://www.imagistics.com/
http://www.igiinvestor.com/
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