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
January 27, 1999
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
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 are press releases of
the registrant dated December 29, 1998 and December 30, 1998.
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<PAGE>
NUR Macroprinters Announces Settlement Agreement Resolving Most Outstanding
Lawsuits
Magshimim, Israel, December 29, 1998-- NUR Macroprinters Ltd. (NASDAQ -NMS
Symbol: NURTF), manufacturer of the market-leading NUR Blueboard digital inkjet
printing system, today announced that it has achieved a settlement agreement
with Scitex Corporation Ltd., Matan Digital Printing Ltd., Sprintek Ltd., Mr.
Rami Dochovna and Idanit Technologies Ltd. among others. The settlement
agreement resolves several outstanding legal disputes pertaining to intellectual
property rights, royalty payments between NUR and Matan, and three different
lawsuits currently being heard in different courts in Israel.
The settlement agreement resolves all disputes between NUR and Matan, including
the disputes on patent ownership, royalty payments to Matan and its founder,
Rami Dochovna, alleged past debts of NUR to Matan, and different rights relating
to the technologies of both parties. Other issues resolved under the settlement
agreement are all disputes and legal proceedings between Idanit and Meital,
recently acquired by NUR.
Under the settlement agreement, NUR will pay a total of $880,000 to Rami
Dochovna, Sprintek and Matan. NUR has fully provided for this amount, which is
payable in equal installments over a 3 year period. Under the terms of the
agreement, the patents in dispute will become the undisputed property of NUR; no
future royalty payments for the sale of NUR's printers will be paid to Matan or
Rami Dochovna; all past debts are considered paid in full; and the mutual
lawsuits filed in the Tel Aviv District Court and the Israeli Patent Registrar
will be withdrawn. The settlement agreement also resolves all legal disputes
between Idanit and Meital.
Commenting on the agreement, Erez Shachar, President and CEO of NUR
Macroprinters Ltd., said, "This is a historic agreement for NUR, as it finally
ends the series of legal battles the Company has been involved in since the
changes in control and management last year. This settlement agreement follows
another agreement signed with the receiver of Moshe Nuri, the previous chairman
of the Company, several months ago."
"We are very pleased with the settlement agreement achieved. The agreement will
allow us to focus management time and attention on the business issues facing
the company, and relieve the Company of the great burden of legal proceedings
and uncertainties regarding intellectual property rights and technology
ownership." Prior to the agreement, the Company had reserved a fixed percentage
of sales of its NUR Blueboard printers for royalty payments. Going forward, the
Company does not need to reserve for future royalty payments.'
NUR Macroprinters Ltd. is a world leader in the development, manufacturing,
marketing and servicing of wide-format inkjet 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. NUR
printers are installed in over 160 installations 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
forwardlooking statements within the meaning of the Private Securities
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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, changes in
the level of activity in the automotive industry, 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.
Page 4 of 6
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Nur Macroprinters Appoints New Vice President Finance And Chief Financial
Officer
Magshimim, Israel, December 30, 1998. - NUR Macroprinters Ltd. (NASDAQ NM:
NURTF), manufacturer of the market-leading NUR Blueboard digital inkjet
printing system, today announced that it has appointed Hilel Kremer to be
the Company's new Vice President Finance and Chief Financial Officer.
Kremer most recently held the position of Vice President Finance and Chief
Financial Officer at Scitex Asia Pacific, a subsidiary of Scitex (NASDAQ:
SCIXF). Prior to that he held key positions in the finance organization of
Scitex in Europe. Prior to his career in Scitex, Mr. Kremer held different
positions in the budgeting department of the Israeli Finance ministry. Kremer
holds a bachelors degree in economics from the Hebrew University in Jerusalem,
and an MBA from INSEAD, Fontainebleau, France. Kremer will replace Eitan Padan,
who has served in this position since October 1997.
Commenting on the appointment, Erez Shachar, President and CEO of NUR
Macroprinters Ltd., said, "We are very pleased to have Hilel Kremer on board. He
has the experience, motivation and energy needed to fulfill this very demanding
position. As NUR continues its growth we will be faced with new financial
challenges and will need ever improving financial infrastructures and management
capabilities. I would like to thank Eitan Padan for his service to the Company
during a very challenging period, and wish him success in his future ventures."
NUR Macroprinters Ltd. is a world leader in the development, manufacturing,
marketing and servicing of wide-format inkjet 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. NUR
printers are installed in over 160 installations 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, changes in
the level of activity in the automotive industry, 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.
Page 5 of 6
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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: January 27, 1999 By: /s/ Erez Shachar
---------------------------
Name: Erez Shachar
Title: Chief Executive Officer
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