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Ilse Jurriën : November 26th 2006 - 19:32 CET

Konica Minolta Thailand sells assets to Cpac


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Konica-MinoltaKonica Minolta Thailand sells assets to Cpac : Cpac, Inc. today reported it has completed the purchase of certain assets from Konica Minolta Photochem Thailand (Pcth) to manufacture photographic chemistry, effective October 17, 2006. Under the terms of the agreement, Cpac will operate Konica Minolta’s photochemical production and distribution facility in Sriracha, Thailand until December 31, 2006. After that date, the operation will be transferred to the Cpac Asia Imaging Products Limited (Cpac Asia) facility near Bangkok, Thailand. To accommodate the new volume, Cpac Asia will add approximately 20,000 square feet of space to its existing facility, more than doubling its warehouse capacity.
Konica Minolta Thailand sells assets to CpacKonica Minolta Photo Imaging
Steven Baune, President, Cpac Imaging Worldwide, remarked, “In January 2006, Konica Minolta Photo Imaging (Kmpi) announced it would exit the photo imaging business on a worldwide basis by March 2007. Because of our longstanding manufacturing relationship with Konica, we entered into discussions with Kmpi management to assist with their transition out of this business. During this period, Konica has made every effort to ensure that its customers would continue to receive quality products and services. The agreement permits Cpac to manufacture and sell Konica Minolta-branded finished goods until March 31, 2007, ensuring that existing customers will experience no disruption in supply. After this period, Cpac will convert the brand from Konica Minolta to ‘Sentry’.”

Cpac Imaging accesses new Asia markets
Stan Gulbin, President, Cpac Asia, added, “This agreement comes with multiple benefits for Cpac Imaging. We will gain access to several new markets in Asia, the Middle East, and Africa, and anticipate doubling production volume in Thailand when the move is completed in January 2007. In addition, Cpac Asia was successful in securing tax incentives from the Thai government to help offset capital investments, enabling us to consolidate the Pcth volume with minimal impact to cash flow.”

About Cpac
Established in 1969, Cpac, Inc. manages holdings in two industries. The Fuller Brands segment manufactures commercial, industrial, and household cleaning products, as well as custom brushes and personal care lines. The Cpac Imaging segment develops and markets innovative Imaging chemicals, equipment, and supplies at seven operations worldwide.





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