AstroNova Strengthens its Position in the Color Digital Package Printing Market with the Acquisition of MTEX NS
Adds
Highlights
- Transaction adds key market adjacencies to Product Identification segment
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MTEX NS becomes a wholly owned subsidiary of
AstroNova -
Company to host conference call for investors at
3:00 p.m. ET today
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“MTEX NS is a highly innovative manufacturing and technology development company whose multiple lines of industrial grade products significantly expand our Product Identification portfolio. MTEX NS brings multiple complementary market adjacencies while broadening our addressable customer base and geographic reach,” said
“The MTEX NS team possesses broad and deep inkjet and UV piezo technology experience, allowing the company to consistently develop and deliver highly differentiated, color digital printers that provide customers with industry-leading speed and quality,” Woods said. “This experience will add to and complement our own technical expertise.”
Headquartered in a vibrant technology hub outside of
MTEX NS’s industrial printing solutions address four areas of the digital printing market:
- Packaging: Professional wide-format and dual-sided printing on corrugated boxes and paper used in applications such as healthcare, logistics, and e-commerce
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Flexible Packaging : Flexible package printing on a range of substrates including thermoplastic polymers, multilayer materials, and paper for healthcare, food and beverage, and other applications - Color Labels: High-speed, professional color label printing and finishing that provide all-in-one solutions for in-house or commercial printing
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Textiles: Innovative printing solutions developed for transfer film, that can transfer images to a wide range of materials
MTEX NS will operate as a wholly owned subsidiary of
Woods added, “For more than a decade, MTEX NS has been at the forefront of the digital packaging printing market. The company’s state-of-the-art manufacturing center is a model of cost efficiency and one of the most advanced factories of its kind in
To see many of the latest
The transaction was funded with borrowings from an amended version of the Company’s existing senior bank debt facilities.
The Current Report on Form 8-K disclosing this transaction and the amended credit agreement was filed concurrently with the issuance of this news release.
Investor Conference Call
A real-time and an archived audio webcast of the call will be available through the “Investors” section of the
About MTEX NS
MTEX NS, founded in 2011 and headquartered in
MTEX NS has 81,000 square feet of facilities, including laser cutting, bending, welding, CNC centers, a painting unit, software and electronics development, allowing the highest standards of quality and certification in the entire manufacturing process.
The company’s seasoned R&D team, boasting over 10 years of MTEX experience, in addition to product development, partners with global knowledge hubs like universities and research centers. These collaborations focus on disruptive, high-value projects, ensuring MTEX NS remains an innovation leader.
Learn more at www.mtexns.com.
About
The Product Identification segment provides a wide array of digital, end-to-end product marking and identification solutions, including hardware, software, and supplies for OEMs, commercial printers, and brand owners. The Test and Measurement segment provides products designed for airborne printing solutions, avionics, and data acquisition. Our aerospace products include flight deck printing solutions, networking hardware, and specialized aerospace-grade supplies. Our data acquisition systems are used in research and development, flight testing, missile and rocket telemetry production monitoring, power, and maintenance applications.
Forward-Looking Statements
Information included in this news release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not statements of historical fact, but rather reflect our current expectations concerning future events and results. These statements may include the use of the words “believes,” “expects,” “intends,” “plans,” “anticipates,” “likely,” “continues,” “may,” “will,” and similar expressions to identify forward-looking statements. Such forward-looking statements, including those concerning the Company’s anticipated performance, involve risks, uncertainties and other factors, some of which are beyond our control, which may cause our actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. These risks, uncertainties and factors include, but are not limited to, (i) the risk that we may not be able to realize the expected benefits from our acquisition of MTEX NS, (ii) the risk that the growth objectives for MTEX NS may not be achieved, and (iii) those factors set forth in the Company’s Annual Report on Form 10-K for the fiscal year ended
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