FREMONT, Calif., Aug. 29, 2016 (GLOBE NEWSWIRE) --
Electronics For Imaging, Inc. (Nasdaq:EFII) today announced it will move to a brand-new facility in Londonderry, N.H., to house its US Inkjet business. The facility, which will be nearly a quarter-million square feet in size with room for additional expansion, is scheduled to be completed in early 2018. The facility will offer very close proximity to the Manchester-Boston Regional Airport, which is less than one mile away.
The new EFI™ Inkjet center will allow consolidation of operations into a single facility and include research & development, manufacturing, warehousing, training and service for EFI VUTEk® and EFI Wide Format printers, along with worldwide sales and marketing management for EFI’s broader portfolio of narrow, wide- and superwide-format industrial inkjet printers and presses. A new, state-of-the-art customer briefing and demo center in the facility will house EFI Inkjet production printers for signage and graphics, textile and label applications, along with related EFI Productivity Software and EFI Fiery® digital front end workflow products.
“EFI’s annual Inkjet revenues are closing in on $500 million, and it is happening because our customers are capitalizing on new market opportunities using our expanding portfolio of industrial inkjet printers,” said Scott Schinlever, EFI Inkjet’s senior vice president and general manager. “With the growth we are witnessing in LED inkjet and other key production applications, we have outgrown our existing facilities.
“While we are extremely grateful to have been part of the very welcoming business community in Meredith,” Schinlever added, “relocating to the Manchester area comes with some key advantages to help us continue growing, including proximity to the tremendous pool of talent in the greater Boston metropolitan region.”
Making room for growth in an expanding digital inkjet printing market
The design of the facility is being modeled on the open concept the company has successfully implemented in its Silicon Valley, Calif., global headquarters. The facility will be more than 25% larger and much more efficient in layout than the multiple buildings used to house EFI’s current Inkjet operations in Meredith. Plus, the site in Londonderry includes space for additional expansion if needed. EFI is entering into a long-term ground lease with the City of Manchester, N.H., for the Londonderry site, as well as a lease for the building from BTMU Capital Leasing & Finance LLC, a subsidiary of MUFG, one of the world’s leading financial groups.
Londonderry, a suburb of Manchester, offers easy access to Boston Logan Airport in addition to the Manchester-Boston Regional Airport. Plus, the town is close to the many universities that help make the Greater Boston area a hub for technology research and expertise.
With $447.7 million in revenues in 2015, and growing an average of over 15% annually for the last 5 years, the EFI Inkjet business now accounts for more than half of EFI’s total sales. EFI’s complete printer portfolio, which includes industry-leading LED and UV inkjet narrow-, wide- and superwide-format technologies, along with aqueous textile and ceramic decoration products, gives customers profitable opportunities for “Imaging of Things,” delivering greater product customization and appeal in everything from signage and packaging to décor, apparel and industrial manufacturing. To see many of the extensive, imaginative applications possible with EFI print technology, visit www.imagingofthings.com or www.efi.com.
EFI™ is a global technology company, based in Silicon Valley, and is leading the worldwide transformation from analog to digital imaging. We are passionate about fueling customer success with products that increase competitiveness and boost productivity. To do that, we develop breakthrough technologies for the manufacturing of signage, packaging, textiles, ceramic tiles, and personalized documents, with a wide range of printers, inks, digital front ends, and a comprehensive business and production workflow suite that transforms and streamlines the entire production process. (www.efi.com)
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NOTE TO EDITORS: The EFI logo, VUTEk and Fiery are registered trademarks of Electronics For Imaging, Inc. in the US and/or certain other countries. EFI is a trademark of Electronics For Imaging, Inc. in the US and/or certain other countries. All other terms and product names may be trademarks or registered trademarks of their respective owners, and are hereby acknowledged.
Nothing herein should be construed as a warranty in addition to the express warranty statements provided with EFI products and services.
This news release contains forward-looking statements, that are statements other than statements of historical fact including words such as “anticipate”, “believe”, “estimate”, “expect”, “consider”, “plan” and similar, any statements related to strategies or objectives of management for future operations, products, development, performance, any statements of assumptions or underlying any of the foregoing and any statements in the future tense. Forward-looking statements are subject to certain risks and uncertainties that could cause our actual or future results to differ materially. For further information regarding risks and uncertainties associated with EFI’s businesses, please refer to the risk factors section in the Company’s SEC filings, including, but not limited to, its annual report on Form 10-K and its quarterly reports on Form 10-Q. EFI undertakes no obligation to update information contained herein, including forward-looking statements.
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Source:Electronics For Imaging, Inc.