Business
Control change for partner
Control change for partner.
About this update from Xaar Plc
[{"type":"text","content":"\n Xaar PLC\n29 January 2008\n\n\nFOR IMMEDIATE RELEASE 29 January 2008\n\n\n Xaar plc\n\n PURCHASE OF A MAJORITY HOLDING IN XENNIA TECHNOLOGY LTD.\n BY ROYAL TEN CATE NV\n\nXaar plc ('Xaar'), the inkjet printing technology group headquartered in \nCambridge is pleased to announce that Xennia Technology Ltd. ('Xennia'), in \nwhich Xaar has a minority interest, has entered into an agreement with Royal \nTen Cate nv ('Ten Cate') under which Ten Cate will purchase a 75% stake in the \ncompany from the founder and other management. Xaar will retain its minority \ninvestment in Xennia and will partner with Ten Cate in its development of inkjet\nfor the specialist textile and materials markets.\n\nBased in the Netherlands, Ten Cate is a specialist textile and materials group \nlisted on the NYSE Euronext Amsterdam stock exchange (stock code:KTC). Inkjet \nis an emerging technology in the printing of textiles and in the application \nof specialist coatings and other related production processes for the textile \nmarket.\n\nXaar has enjoyed a collaborative relationship with Xennia since June 2004, \nstrengthened in September 2005 when Xaar acquired a minority interest in the \ncompany.\n\nCommenting on the agreement, Xaar's Chief Executive, Ian Dinwoodie, said 'I am \npleased that Xennia has strengthened its position for the future through what \nis an innovative and collaborative agreement with Ten Cate. We already work with\nTen Cate under an EU Framework project and we look forward to working more \nclosely with them in the future and to establishing inkjet as a key production \nprocess for the textile and specialist materials market.'\n\n Ends\n\n\nContacts\n\nXaar plc: 01223-423663\nIan Dinwoodie, Chief Executive www.xaar.co.uk\nNigel Berry, Group Finance Director & Deputy\nChief Executive\n\nBankside Consultants:\nSteve Liebmann or Simon Bloomfield 020-7367-8883 / 07802-888159\n\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange\n \n ","length":2317,"tagName":"div"}]