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(PR NEWSWIRE) ITEC Announces Strategic Sales and Distribution Agreement in
ITEC Announces Strategic Sales and Distribution Agreement in Asia; First Year
Potential Valued at $5 Million
SAN DIEGO, June 29 /PRNewswire/ -- Imaging Technologies Corporation
(Nasdaq: ITEC), a pioneer in the development of digital imaging solutions,
today announced it has signed a strategic international sales and distribution
agreement with Grans, headquartered in Singapore. Grans will distribute ITEC
products throughout China, Malaysia, Thailand, Vietnam, Indonesia and
Singapore.
"The first year potential is $5 million in orders in a portion of the
world where we have not had a distributor in the past," said Brian Bonar, ITEC
CEO. "We are especially pleased because Grans has a solid record of
achievement in selling both software and hardware products."
Grans placed initial stocking orders for $250,000 for ITEC's color and
monochrome printers, ColorBlind(R) software, spares, and consumables. "The
present economic crisis in Asia is bottoming out and on a positive U-turn. We
can only see an even closer partnership with ITEC to come," says Grans'
President Siew Kok Wah. Grans will market and sell ITEC's full line of
digital imaging solutions through its network of VARs and Resellers in South
Asia and throughout the Western Pacific.
About Imaging Technologies Corporation
Imaging Technologies Corporation (Nasdaq: ITEC) is a worldwide pioneer in
the development, manufacturing, licensing and distribution of high-quality
digital imaging solutions. Founded in 1982 and headquartered in San Diego,
California, the company produces imaging products for diverse market segments.
Beginning with a core technology in the design and development of Adobe(R)
PostScript(R) controllers for non-impact printers and multifunction
peripherals, the company has expanded its product offerings to include
monochrome and color printers, printer controllers, external print servers,
and software to improve the accuracy of color reproduction. Information on
the company is available at the ITEC Web site at www.itec.net.
Forward-Looking Statements
Statements in this press release may constitute forward-looking statements
and are subject to numerous risks and uncertainties, including the failure to
complete successfully the development of new or enhanced products, the
Company's future capital needs, the lack of market demand for any new or
enhanced products the Company may develop, any actions by the Company's
partners that may be adverse to the Company, the success of competitive
products, other economic factors affecting the Company and its markets,
seasonal changes, and other risks detailed from time to time in the Company's
filings with the Securities and Exchange Commission. The actual results may
differ materially from those contained in this press release. The Company
disclaims any obligation to update any statements in this press release.
SOURCE Imaging Technologies Corporation
-0- 06/29/99
/CONTACT: Philip Englund, Sr. Vice President of ITEC, 619-613-1300,
fax 619-613-1311, Penglund@itec.net/
/Web site: itec.net |
