FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Report of Foreign Private Issuer
Pursuant to Rule 12a-16 or 15d-16 of
the Securities Exchange Act of 1934
October 1, 1998
Commission File No. 0-26498
NUR MACROPRINTERS LTD.
(Exact Name of Registrant as specified in its Charter)
Not Applicable
(Translation of Registrant's Name into English)
5 David Navon Street
Moshav Magshimim
Petah-Tikvah, 56910, Israel
(Address and 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).
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Attached hereto and incorporated by reference herein is a press
release of the registrant dated October 1, 1998.
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COMPANY CONTACT: INVESTOR CONTACT:
Erez Shachar, President & Chief Executive Officer Jody Burfening (ext. 304)
Eitan Padan, Chief Financial Officer Lippert/Heilshorn & Assoc.
NUR Macroprinters LTD. 212-838-3777
011-972-3-908-7676 [email protected]
E-mail: [email protected]
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NUR MACROPRINTERS ANNOUNCES THE TECHNOLOGY
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ACQUISITION OF MEITAL TECHNOLOGIES LTD.
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Magshimim, Israel - October 1, 1998 - NUR Macroprinters Ltd. (NASDAQ-NM
Symbol: NURTF) ("NUR"), a manufacturer and marketer of wide-format digital
inkjet printers and consumables, today announced it entered into an agreement
with Meital Technologies Ltd. ("Meital"), pursuant to which NUR acquired all
rights (including all related assets) to Meital's technology for approximately
$3 Million, consisting of an up-front payment of $750,000, the assumption of
certain liabilities, and future sales based royalties. Meital, based in Israel,
develops piezo Drop-on-Demand (DoD) inkjet technologies for application in
wide-format digital printers. As part of the acquisition, Koby Markowitz, the
founder and President of Meital, has joined NUR as Vice-President of
Technologies and Meital's research and development team has joined NUR's
research and development staff.
In a prior statement, NUR announced its intention to convert an
outstanding loan to Meital to 26% of the equity of Meital. This acquisition is
in lieu of the Company's prior intention to convert the outstanding loan to
Meital to equity.
Erez Shachar, President and CEO of NUR, said, "By acquiring Meital's
inkjet technology, NUR is broadening its technological base in order to provide
its customers with an optimal solution for both wide and superwide format
applications. Currently, NUR is a world leader in the superwide format printer
market, through its market leading Blueboard printer. The integration of
Meital's technology and expertise with NUR's development team will position NUR
as the only company mastering both Continuous Inkjet (CIJ) and piezo DoD
technologies for wide format printing applications."
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"We plan to integrate the Meital technology in our development of wide
format printers for the screen printing market. The screen printing market,
which lacks high quality, high throughput digital printing solutions presents
one of the most exciting growth opportunities for digital printing technologies.
With the integrated NUR-Meital printer, we believe that NUR will bring a leading
product to the replacement market for conventional screen printing
technologies."
Koby Markowitz, founder and president of Meital, said, "We are very
pleased to be joining NUR and look forward to working together. We believe that
the technological fit between Meital and NUR will allow us to quickly
commercialize our wide format product and that NUR's marketing capabilities and
world-wide presence will enable us to market our new digital printing products
aggressively."
The acquisition is expected to result in the recognition by NUR of a
one-time charge involving a write-off assigned to in-process research and
development in the range of $1,500,000 to $1,600,000. This charge will be taken
in the third quarter of 1998. In addition, the Company has future royalty
obligations, during the next three years, which will not exceed $1,300,000.
NUR Macroprinters Ltd. is a world leader in the development, manufacturing,
marketing and servicing of wide-format ink-jet printing systems and consumables.
The Company's printers are marketed principally to commercial printers, media
companies, and screen printers for a variety of large format applications, such
as billboards, posters, banners and point of purchase displays for advertising
as well as decorations and backdrops for show rooms, fleet graphics, trade
shows, museums and exhibits. NUR printers are installed in over 140 sites
throughout Europe, North and South America, Africa and Asia.
Certain statements made herein that use the words "estimate" "project" "intend'"
"expect'" "believe" and similar expressions are intended to identify
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements involve known
and unknown risks and uncertainties which could cause the actual results,
performance or achievements of the Company to be materially different from those
which may be expressed or implied by such statements, including, among others,
changes in general economic and business conditions and specifically, decline in
demand to the Company's products, inability to timely develop and introduce new
technologies, products and applications and loss of market share and pressure on
prices resulting from competition. For additional information regarding these
and other risks and uncertainties associated with the Company's business,
reference is made to the Company's reports filed from time to time with the
Securities and Exchange Commission.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
NUR MACROPRINTERS LTD.
Date: October 1, 1998 By: /s/ Erez Shachar
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Name: Erez Shachar
Title: Chief Executive Officer
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