Schawk buys out Laserscan Group
services to the food and beverage industry, Schawk, has announced
that it has entered into an agreement to acquire the balance of 35
per cent of the outstanding shares of Laserscan, a Malaysian
North America's leading provider of digital imaging prepress services to the food and beverage industry, Schawk, has announced that it has entered into an agreement to acquire the balance of 35 per cent of the outstanding shares of Laserscan, a Malaysian corporation.
Schawk acquired 65 per cent of Laserscan in August 1999. Completion of the transaction is pending approval of the Malaysian government.
Headquartered in Penang, Malaysia, Laserscan also has operations in Kuala Lumpur, Singapore and China. The Laserscan Group is recognised as the premiere Asian digital imaging prepress services company serving the consumer products packaging market. Its clients include numerous multinational corporations which focus on the food and beverage industry. It sells services and products to both local Asian domestic and international markets.
Since acquiring a controlling interest in 1999, Schawk has consistently increased the amount of international business being manufactured and serviced by Laserscan.
This acquisition confirms Schawk's commitment to its clients and to the Asian market. David A. Schawk, president and chief executive officer, commented: "We have invested a significant amount into our Laserscan operations and completion of this transaction assures that this investment will continue. Schawk believes that its Asian market position is solid and with this transaction, justifies further investment in the region."
Schawk, headquartered in suburban Chicago, is a leading supplier of electronic digitised high resolution colour graphic services, brand consulting and design and an array of digitally-based workflow solutions, all aimed at bringing enhanced value to its clients. Schawk provides these advanced services for the food, beverage, and consumer products packaging, point of sale and advertising markets.