News on 7 August 2003
 |
 |
 |
|
For Immediate Release Contact: Steve Mosek New Printer Company TallyGenicom Launched Chantilly, VA August 7, 2003 - Genicom LP and Tally AG announced today that the business printer and consumables companies have agreed to combine operations and create a new company, TallyGenicom. The newly integrated firm expects annualized revenue to exceed million this year, making TallyGenicom one of the largest companies in the world focused exclusively on providing printers, consumables, printer parts and service. Arthur D. Gallo, CEO of Genicom, will be Chief Executive Officer of the company, and Tally CEO Gebhard Morent will serve as Chief Operating Officer. "This venture builds off the financial strength of two successful organizations to create a global printer company of unprecedented potential - the only printer company in the world today that can offer business and industrial users a full range of impact and laser printers," said Gallo. "Our core strength will remain what it's always been - providing and servicing business-critical printers that our customers know they can count on. Looking forward, we will continue to build on that strength with the goal of becoming a world leader in innovative color printer solutions for business. That is our customers' fastest growing printer need and we can now offer them a wider assortment of color solutions than ever before." TallyGenicom will continue to serve existing customers under the same pricing and contract terms already in place, according to Morent. "From the point of view of our customers around the world, nothing really changes," added Morent. "Our commitment to great products and unbeatable customer service will be the same as ever. Joining forces as TallyGenicom simply makes us a stronger supplier going forward, allowing us to bring exciting new products and services to market faster than ever before." TallyGenicom printers are designed and manufactured to perform critical, business-specific printing tasks in industries such as healthcare, transportation, manufacturing, warehousing and retail. The printers are used in these industry applications because of their customized design, rugged construction, durability and proven reliability. Users of TallyGenicom printers include some of the largest corporations in the world, including Wal-Mart, American Airlines, SBC Communications, Daimler Chrysler, Blockbuster and Volkswagen. TallyGenicom Worldwide Headquarters will be in the United States in Chantilly, VA near Arsenal Capital Partners, the current majority owner of Genicom, provided equity capital for the transaction and CapitalSource Finance LLC provided the senior debt financing. Arsenal is a New York-based private equity firm that makes control investments in manufacturing and business service industries. More information about Arsenal is available at www.arsenalcapital.com. CapitalSource is a Chevy Chase, MD-based commercial finance company providing loans to middle market businesses. More information about CapitalSource is available at www.capitalsource.com. About the firms: Tally AG was founded in 1948 and has been a worldwide leader in the design, development, manufacturing, distribution and servicing of printers for high-volume industrial and business applications. Tally is a key innovator in line matrix and industrial ink jet technologies and has become an important player in the color laser market. Headquartered in Ulm, Germany, Tally's American operations have been based in Kent, WA. ###
|