ExScite

CreoScitex Appoints New President for the Americas

Press Release

SOURCE: Creo Products Inc.; CreoScitex

CreoScitex Appoints New President for the Americas

VANCOUVER, Nov. 10 /CNW/ – CreoScitex, a division of Creo Products Inc. (NASDAQ: CREO – news; TSE: CRE – news), is pleased to announce the appointment of Kevin Joyce to the position of President, CreoScitex Americas (CSA). In this position, Kevin will report directly to Mark Dance, President, CreoScitex.

Since entering the graphics arts industry in 1994, first with Creo Products, and more recently with CreoScitex, Kevin has provided the leadership and market knowledge that has driven the company’s growth in North America. In his most recent position as Vice President of Sales and Marketing, CSA, Kevin played a key role in managing the integration of the sales and marketing teams subsequent to the April 1st merger of the digital prepress and print-on-demand initiatives of Creo Products Inc. and Scitex Corporation Ltd.

In making the announcement, Mark Dance stated, “Kevin’s understanding of the American market for both products and service will drive the expansion of CreoScitex. We look forward to his continued leadership in meeting our strategic goals.”

In this role, Kevin will be responsible for the success of all employees and business in the Americas. He will lead the management team at CSA in maximizing the market opportunities available, while building a strong and efficient channel for supporting and sustaining the company’s growth.

Shlomo Shamir, Ph.D., CEO of CreoScitex America, will continue in his present capacity, through a transition over the next few months, working closely with the CSA leadership team. During his over three years as CEO in the Americas, Dr. Shamir realized a significant turn around in the Scitex Americas organization. This provided the basis for CreoScitex’s current leadership position. His integrity has made CreoScitex a trusted partner in the graphic arts industry. Dr. Shamir is considering other opportunities within the company. During the transition his expertise will lend support to Kevin’s continued efforts to evolve CSA from an independent distribution unit to an integrated organization for the Americas.

About CreoScitex

CreoScitex is a world leader in solutions for the graphic arts industry. Core product lines include image capture systems; inkjet proofers; thermal imaging devices for films, plates, and proofs; professional color and copydot scanning systems; and workflow management software. CreoScitex is also an Original Equipment Manufacture supplier of on-press imaging technology and components for digital presses. CreoScitex is a division of Creo Products Inc., which trades on NASDAQ (CREO) and the TSE (CRE).

(C)2000 Creo Products Inc. CreoScitex is a division of Creo Products Inc. The CreoScitex product names mentioned in this document are trademarks or service marks of Creo Products Inc. and may be registered in certain jurisdictions. Other company and brand, product and service names are for identification purposes only and may be trademarks or registered trademarks of their respective holders. Data is subject to change without notice.

Scitex Vision, delayed its planned listing on Frankfurt’s exchange

Scitex delayed its planned listing on Frankfurt’s Neuer Markt due to poor market conditions and political tensions in the Middle East.

Scitex Vision, the wide format digital graphics inkjet division of Scitex delayed its planned listing on Frankfurt’s Neuer Markt due to poor market conditions and political tensions in the Middle East.

Over 5 year, since early 1996 Scitex shares remained unchaged, hovering just above the $10/share, in spite all the attepts to increase share holder value and revive investors interest

Scitex Likely to Dribble Creo Shares onto Market

Scitex could sell its Creo shares as early as October under the terms of their merger. Scitex CEO Yoav Chelouche recently said that he believes in Creo and has no intention of realizing its shares at this stage.

Thursday , Sep 28, 2000 Sun-Thu at 18:00 (GMT+3)

Scitex Likely to Dribble Creo Shares onto MarketBy Avishai Ovadya

Given time, the market does not lie. While it is sometimes hard for us to understand phenomena like deep discounts and astronomical multiples, in the end, the market “knows” its job. The best example is Nasdaq-listed Scitex.

It is no secret that Scitex is traded at a deep discount relative to its holdings. Nor is it a secret that analysts unhesitatingly recommend Scitex. So why does Scitex refuse to climb out of the mire? It may be because Scitex is always talking about added value, but finds it hard to actually do it. Even Clal Industries general manager and Scitex chairman Rimon Ben Shaoul believes that Scitex is busier talking the talk than walking the walk (maybe he is referring to himself?).

Ben Shaoul told “Globes” in an interview that the market is waiting for Scitex’s management to perform, which will be expressed in the share price. Ben Shaoul is mainly referring to the issue of its wide format division and VIO, the joint Internet venture with British Telecom. However, added value can also be based on the sale of Creo shares, which is traded on Wall Street at a company value of $1.6 billion, and in which Scitex owns 27%. Creo has recently surged to $33.5, doubling in last ten weeks

In fact, Scitex could sell its Creo shares as early as October under the terms of their merger. Scitex general manager Yoav Chelouche recently said that he believes in Creo and has no intention of realizing its shares at this stage. He added however that a realization at a low value is one of the possibilities to finance Scitex’s operations (these statements are taken from an analysis on Creo by Salomon Smith Barney). In any case, a large realization of Creo could raise dormant Scitex’s value, currently traded at $500 million, while its holding in Creo are estimated at $450 million.

One way or the other, Creo-Israel (a subsidiary established following the merger to absorb Scitex’s pre-printing operations), revealed innovating printing technology at the ongoing Graph Expo exhibition. The technology, called SP, enables digital printing without the need for lithographic plates in printing with offset printers. According to the company, the process’ advantage lies in the shortening of printing preparations to only a few minutes, after which it is immediately possible to go on to the next print job.

CreoScitex COO Erez Meltzer says, “The new process is likely to revolutionize the printing industry, making it faster, cheaper and more efficient. It won’t happen overnight. The process development is likely to take two years. In any case, penetrating the field will probably generate generous revenues for CreoScitex, which will also benefit from revenues from perishable products for the new technology’s machinery.”

Published by Israel’s Business Arena on 27 September2000

Dwight Johnson of SDP- retires

Dwight T. Johnson, president, Scitex Digital Printing, Inc. and Executive Vice President,Scitex Corporation LTD is retiring. He was president since 1993 and had previously acted as general manager of Eastman Kodak’s, Dayton Operations before its transformation into the Scitex organization. He joined Kodak in 1963 and held numerous positions during his tenure, including president of Kodak Japan Industries Limited. (see full article Scitex Digital Printing Appoints Homi Shamir New President at the Exscite NEWS section on the left)

Amir Pnueli- Computer Science Department, Courant Institute of mathematical Sciences New York University

Prof. Amir Pnueli amir@cs.nyu.edu is Computer Science Department, Courant Institute of mathematical Sciences New York University. Amir’s academic work is mainly known for the introduction of temporal logic into Computer Science.
He has published numerous scientific papers and books, and is a recipient of several international awards (for more see: http://www.cs.nyu.edu/cs/faculty/pnueli/shrtbio.html).
In 1971, he co-founded the software company Mini-Systems, which until 1982 was the sole software provider for Scitex, Israel, manufacturers of computer aided design systems in the color press and graphic printing areas. following the acquisition by Scitex. In 1984, he moved on to found, together with Ido and Hagi Lahover, the company AdCad. The company AdCad later evolved into i-Logix, a firm constructing Computer Aided Software Engineering tools for the specification and design of real time reactive embedded systems.

Ofer Schneid – Founder and CTO of Indocs

Ofer Schneid is the Founder and Chief Technology Officer of Indocs (www.indocs.com) Indocs’ R&D center is located in Herzelia, Israel.. The company products provide platform for editing documents in a web browser. In 1994 he founded Media Solutions Ltd., a multimedia software house products and served as President and CEO until 1997. He also served for three years as Director of R&D Projects at Kodak, and for four years as Senior Engineer and Project Leader at Scitex Corporation in Boston. His past experience includes work with the Israel-based Shoken Group, a publishing operation.

Yossi Faybish moves to Orbotech

After 19 years at Scitex, Yossi Faybish yfa@orbotech.com has move on. He has joined Orbotech in Brussels as Image Line Manager. Yossi worked at R&D in Israel and later held various technical and management positions, in customer support and marketing at STE in Brussels. Orbotech (www.orbotech.com) provides technology solutions used by electronics manufacturers to facilitate production of printed circuit boards (PCBs), flat panel displays (FPDs) and electronics assemblies.

John Ingraham, Program Manager at Avid

John Ingraham john_ingraham@avid.com has been appointed to the position of Senior Program Manager at Avid Technologies (www.avid.com) Internet group – AvidProNet (www.avidpronet.com). Avid, a company specialized in video editing software is located in Tewksbury, MA, just north of Boston. The AvidPro group develops virtual production environments and image asset management systems for film and video editing.
John was a senior color scientist at Iris Graphics.

DOR VENTURES RAISES $30M IN INITIAL FUNDING

Dor Ventures, a new venture capital fund managed by former Scitex president, Arie Rosenfeld and Ilan Nuegarten, has completed raising $30 million in its initial financing

DOR VENTURES RAISES $30M IN INITIAL FUNDING 8/29/2000 TEL AVIV – Dor Ventures, a new venture capital fund managed by former Scitex president, Arie Rosenfeld and Ilan Nuegarten, has completed raising $30 million in its initial financing, according to Israeli press sources. The fund will specialize in electronic publishing, on-line printing applications, imaging technologies and digital printing. Investors in the new fund included Scitex, Agfa, Heidelberg, Screen and EFI. The fund has already invested in Iknowledge, a German company, and Printlife.com, an Israeli company, which operates in Japan and is based in Rehovot and Massachusetts.(http://www.printlife.com/home.html)

Lior Maayan, COO of LabOnWeb

LbOnWeb

Lior D. Ma’ayan Lior@compugen.co.il is the VP and Chief Operating Officer of LabOnWeb.com, Compugen’s Internet research tool.
The Talpiot alum Lior Ma’ayan joined Compugen after 13 years in the imaging technology field. He held various positions in research, business development, sales and lastly as the Managing Director of a division all with Scitex in Israel and Europe. Prior to that, he served as a Research Officer in the Israeli Air Force, developing image processing algorithms.
Compugen’s LabOnWeb is the Web’s first life science research engine. LabOnWeb enriches and enhances lab experiments, enabling more efficient, productive life science research.
Compugen NasdaqNM:CGEN) http://www.cgen.com/ is a pioneer in the fields of computational genomics and proteomics. The company just raised $50M in a public offering in early August.