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Adast goes broke

Friday, 22 March 2002
By Print 21 Online Article

Best known for its partnership with Presstek in producing the direct imaging Adast 705C DI Series B3-size sheetfed press the company is continuing to operate while its management is in negotiations with various parties to obtain interim financing.

The Adast 705C DI, sold by Presstek and manufactured by Adast, is a series of four- and five-color four-up direct-imaging perfecting press models that can image up to five plates simultaneously. It is also sold as the Xerox offset printing press under the Presstek banner. There does not appear to be any operating in Australia and New Zealand.

According to Presstek president and chief executive Robert Hallman the Adast bankruptcy is not expected to materially impact Presstek’s 2002 operating plan. “We anticipated only minimal revenues from this B3-size sheetfed press product line in the current fiscal year.

“We believe that we have an adequate supply of Adast presses and spare parts to meet the projected needs of our customers in the near term. We are working with Adast to continue receiving our open orders, and are exploring alternative manufacturing sources, including the use of
existing manufacturing partners of our other products. We do not believe this bankruptcy will impact any other portion of our business.”

Presstek is the developer of a dry imaging plate technology that pioneered on-press imaging and to a lesser extent the whole CTP revolution. Its imaging system is currently being used on Heidelberg presses.

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