UNITED STATES
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
For the quarterly period ended June 30, 1999
Creo Products Inc.
3700 Gilmore Way
Burnaby, BC
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 [ ]
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]
If "Yes" is marked, indicate below the file number assigned to the registrant
in connection with Rule 12g3-2(b):
82-N/A
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Vancouver, BC, CANADA (10 February, 2000) Creo Products Inc. (NASDAQ: CREO,
TSE: CRE) announced that it has completed a US$25 million investment in
printCafe Inc., as originally announced in a Creo press release dated 25
January, 2000. printCafe is an Internet-based, business-to-business
communication and production solution tailored specifically for the printing
and graphic arts industries.
Through a wholly owned subsidiary, Creo acquired Preferred stock in the
capital of printCafe representing 17.24 per cent of printCafe's voting rights.
Creo may, at its option, increase its voting rights by giving notice to
printCafe and by paying an exercise/conversion premium. As part of the
investment, Creo will have a seat on the board of directors of printCafe Inc.,
which is held by Amos Michelson, CEO of Creo Products Inc.
"The closing of this deal cements our relationship with the first company in
the world to offer total Internet-based commerce and supply-chain solutions
for the printing and publishing industries," said Amos Michelson, CEO of Creo
Products Inc. "The printCafe solution is based on providing economic benefit
to users through the full digital integration of business and print-production
systems. The added ability to customize the customer-supplier interface
ensures that relationship management remains in the hands of the users, where
it belongs, rather than subject to intervention by a third party."
Over the course of the past two months, printCafe has consolidated resources
by merging with AHP systems (experts in global scheduling optimization), as
well as Programmed Solutions Inc., Hagen Systems, and Logic (providers of
advanced business systems for estimating, scheduling,
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job-tracking, and accounting). Alliances have also been struck with Punch
Networks (for Web-based file storage and collaboration services) and R.R.
Donnelley Logistics Services (for logistics solutions). Several major
end-users, including Time Warner Inc., Moore Corp Ltd., and the Sheridan
Group, have already signed on with printCafe.
"We're excited to have finalized our partnership with the world leader in
prepress workflow and mission-critical printing hardware," said William
Guttman, CEO of printCafe. "Creo's commitment to printCafe has been
instrumental in securing significant partnerships and customer relationships
throughout the industry."
Launched yesterday at the Seybold Boston Publishing 2000 Conference, printCafe
received rave reviews from printers and print buyers for its focus on
enhancing existing print relationships, improving communications, and adding
maximum value at all points in the production process. Its advanced
web-based and software solutions enable printers, tradeshops, and print buyers
to specify virtually any type of print project, obtain estimates, manage
transactions, monitor ERP information, plan all stages of the production
process, track the status of a project in real-time, manage invoicing and
process payments, and generate a broad range of performance reports.
printCafe services will be offered free to print buyers and on a subscription
basis to printers and suppliers through custom-branded sites and Internet
portals.
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Based in Vancouver, Canada, Creo Products Inc. is a world-leading supplier of
computer-to-plate (CTP) systems. The company offers a complete family of
digital prepress solutions, including thermal imaging devices, copydot
scanning systems, and workflow management software. Together with partner
Heidelberger Druckmaschinen AG, Creo has installed over 1400 systems worldwide
the largest CTP install base in the industry. Creo's innovation, technical
excellence, and employee commitment are focused exclusively on providing
digital prepress solutions to the graphic arts and printing industries. For
additional information, please visit the Creo web site at www.creo.com.
Prograph Systems Inc. developed the first publisher-to-printer job
specification system and co-developed all of the major buyer-to-printer
transaction standards (e.g. PROSE, JIFFI, SHIP.DAT, etc.). The first company
to use these standards commercially in live jobs, Prograph has since
engineered digital supply-chain management solutions for media giants Time and
People magazines, and for 17 of the top 20 printers in North America. The
company serves more than 175 U.S. and international publishing companies
representing more than 600 publication titles. Prograph's extensive suite of
Web-based services and applications are designed for a wide range of projects,
from complex magazines and books to medium-to-small projects such as
collateral materials and business cards.
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, including statements with respect to the anticipated cost savings,
synergies, and other benefits of the transaction. 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.
Creo and the Creo logo are registered trademarks of Creo Products Inc.
printCafe and the printCafe logo are trademarks of printCafe Inc.
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Contacts:
Elaine Coffey
Manager, Media Relations
Vancouver, Canada
Tel: +1 604 451 2700
Email: [email protected]
Katja Mader
Manager, Marketing Communications
Creo Europe
Brussels, Belgium
Tel: +32 2 711 1400
E-mail: [email protected]
Tracy Rawa
Investor Relations
Vancouver, Canada
Tel: +1 604 451 2700
E-mail: [email protected]
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