Xaar PLC
29 January 2008
FOR IMMEDIATE RELEASE 29 January 2008
Xaar plc
PURCHASE OF A MAJORITY HOLDING IN XENNIA TECHNOLOGY LTD.
BY ROYAL TEN CATE NV
Xaar plc ('Xaar'), the inkjet printing technology group headquartered in
Cambridge is pleased to announce that Xennia Technology Ltd. ('Xennia'), in
which Xaar has a minority interest, has entered into an agreement with Royal
Ten Cate nv ('Ten Cate') under which Ten Cate will purchase a 75% stake in the
company from the founder and other management. Xaar will retain its minority
investment in Xennia and will partner with Ten Cate in its development of inkjet
for the specialist textile and materials markets.
Based in the Netherlands, Ten Cate is a specialist textile and materials group
listed on the NYSE Euronext Amsterdam stock exchange (stock code:KTC). Inkjet
is an emerging technology in the printing of textiles and in the application
of specialist coatings and other related production processes for the textile
market.
Xaar has enjoyed a collaborative relationship with Xennia since June 2004,
strengthened in September 2005 when Xaar acquired a minority interest in the
company.
Commenting on the agreement, Xaar's Chief Executive, Ian Dinwoodie, said 'I am
pleased that Xennia has strengthened its position for the future through what
is an innovative and collaborative agreement with Ten Cate. We already work with
Ten Cate under an EU Framework project and we look forward to working more
closely with them in the future and to establishing inkjet as a key production
process for the textile and specialist materials market.'
Ends
Contacts
Xaar plc: 01223-423663
Ian Dinwoodie, Chief Executive www.xaar.co.uk
Nigel Berry, Group Finance Director & Deputy
Chief Executive
Bankside Consultants:
Steve Liebmann or Simon Bloomfield 020-7367-8883 / 07802-888159
This information is provided by RNS
The company news service from the London Stock Exchange