SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF THE
SECURITIES EXCHANGE ACT OF 1934
May 17, 2000
CREO PRODUCTS INC.
(Exact name of Registrant as specified in its charter)
3700 Gilmore Way
Burnaby, B.C. Canada V5G 4M1
(Address of principal executive offices)
(Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.)
Form 20-F x Form 40-F
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(Indicate by check mark whether the registrant by furnishing the
information contained in this Form is also thereby furnishing the information
to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act
of 1934.)
Yes No x
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FOR IMMEDIATE RELEASE
CREO CONFIRMS NEW OEM RELATIONSHIP WITH HEIDELBERG
Vancouver, BC, CANADA (May 17, 2000) Creo Products Inc. (NASDAQ: CREO; TSE:
CRE) ("Creo") announced today that the official transition to an original
equipment manufacture (OEM) relationship with Heidelberger Druckmaschinen AG
("Heidelberg") will happen on May 18, 2000. The decision to enter into the OEM
agreement, and to end the Heidelberg/Creo joint venture, resulted when the two
companies were unable to agree on modifications to the joint-venture agreement
necessary as a result of the merger of Creo and Scitex prepress operations. The
Heidelberg/Creo joint venture was first formed in June 1997.
Heidelberg and Creo have reached mutually acceptable principal terms for the OEM
relationship, under which the Trendsetter(R) family of thermal platesetters and
the Prinergy(TM) workflow management system will continue to be sold through
both CreoScitex and Heidelberg distribution channels under the respective brands
of the two companies. Existing service contracts will continue to be honored by
both companies without disruption.
The manufacture of the Trendsetter line will continue in Vancouver and in Kiel
for the foreseeable future. Heidelberg has agreed to provide ongoing
manufacturing services for the next two years, at Creo's option.
Management representatives from both companies believe that the OEM agreement
will give the respective sales and support organizations greater independence
and flexibility.
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About Creo
Based in Vancouver, Canada, Creo Products Inc. is a publicly held high-
technology company focused on the application of imaging and information
technology. Through CreoScitex its principal operating division Creo is
leading the digital transformation of the graphic arts industry. Creo Products
Inc. trades under the symbols CREO on NASDAQ and CRE on the Toronto Stock
Exchange. www.creo.com
About Heidelberg
The world leader in printing solutions, the Heidelberg Group develops and
manufactures sheetfed and web offset presses, digital printing systems,
electronic prepress equipment and software, as well as finishing solutions.
www.heidelberg.com
This release contains forward-looking statements within the meaning of the "safe
harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995.
These statements are based on management's current expectations and beliefs and
are subject to a number of risks and uncertainties that could cause actual
results to differ materially from those described in the forward-looking
statements.
These risks and uncertainties include the following: (1) The expected
advantages for Creo of the transition to an OEM arrangement with Heidelberger
Druckmaschinen AG may be less than expected and may adversely affect Creo's
operating results and financial performance; (2) the expected cost-savings and
synergies from the combination of Creo's business with the Scitex Business
cannot be fully realized or take significantly longer to realize than expected;
(3) revenues from the Scitex Business are lower than expected or customer
attrition and business disruption following the acquisition are greater than
expected; (4) the integration of the Scitex Business into Creo's operations is
more difficult, time-consuming or expensive than anticipated, or the attrition
rate of key employees of the combined business is greater than expected; (5)
technological changes or changes in the competitive environment adversely affect
the products, market share, revenues or margins of the combined business; or (6)
changes in general economic, financial or business conditions adversely affect
the combined business or the markets in which it operates.
Creo, the Creo logo, CreoScitex, the CreoScitex logo, Trendsetter, and Prinergy
are registered trademarks or trademarks of Creo Products Inc.
