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FORMAX® News Release 12/02 |
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December, 2002 - Formax Technologies Inc. (FTI), a Formax affiliate, recently announced the acquisition of the Tab Products FHE Division in Turlock, CA.
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The FHE Division of Tab Products Company focuses on design, engineering and manufacturing of paper processing equipment for various companies throughout the United States including Formax of Dover, NH.
The Tab Products FHE Division currently designs and manufactures AutoSeal® one-piece mailing machines, folders, conveyors, bursters, decollators and other products which serve the mailing and forms processing
equipment market.
The acquisition of the FHE division by FTI will provide Formax with an equity stake in its main supplier of products. This move will allow Formax to better control both product development, quality procedures and manufacturing of its products.
Ryan Lindsay, General Manager of Formax states, "The acquisition of the Tab FHE Division by FTI will give us a direct equity position in our main vendor.
This move should allow us to continue our aggressive pursuit of product development and continued growth in the mailing equipment and forms handling marketplace."
FTI plans on continuing operations of the plant in Turlock and to aggressively pursue other business opportunities.
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