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February 08, 2006
Singapore, February 08, 2006 - SATO, a pioneer in the Automatic Identification and Data Collection (AIDC) industry and a leader in barcode printing, labelling, and EPC/RFID solutions, announced that it has successfully completed the acquisition, previously made public on December 22, 2005, of Checkpoint's former BCS businesses as well as the Hand-held Labeling Systems (HLS) in the United States. All closing conditions including regulatory and other third-party approvals necessary for the transaction to be completed were, as expected, met in time to satisfy the targeted closing date of January 29.
The recently acquired physical assets and now SATO staff will operate under five new companies based in North America, Spain, Germany, Australia and New Zealand respectively. "This deal offers SATO the immediate benefit of increasing our capacity in existing markets as well as expanding the company's network into markets not fully explored yet. The size of our business outside of Japan has jumped from US$114 million to potentially more than US$220 million. It represents a significant step forward in our drive to meeting our 2015 target for overseas business of 75 billion yen (about US$637 million). This acquisition fits with our long-term vision of growth and profitability, especially in the consumables market segment outside of Japan." said SATO President Masanori Otsuka.
"While it is still early days, we have already seen plenty of evidence of what the BCS businesses will bring to the fold: highly developed label converting facilities, full product offering of barcode and labelling solutions, longstanding sourcing and channel relationships and, unsurprisingly, knowledgeable, experienced and dedicated staff. There are always risks and uncertainties associated with any type of acquired businesses, but with all parties committed to making this a success, there is every reason to believe that the full benefits of the integration of the BCS businesses into the SATO Group will be realised."The 5 new SATO Group Member Companies (GMCs) are:
Notes
1. US dollar amounts have been translated, for convenience only,
at the rate of 117.75 yen = US$1, the approximate exchange rate
prevailing on January 30, 2006. Billion is used in the American
sense of one thousand million.
About SATO
SATO is
a pioneer in the Automatic Identification and Data Collection (AIDC)
industry and the inventor of the world's first electronic thermal
transfer barcode printer. It revolutionised the barcoding industry
by introducing the Data Collection System (DCS) & Labelling
concept - a total barcode and labelling solution providing high
quality barcode printers, scanners/hand-held terminals, label design
software and consumables. SATO is one of the first in the industry
to introduce a complete, multi-protocol EPC-compliant, UHF RFID
solution.
SATO is
publicly listed on the first section of Tokyo Stock Exchange in
Japan. It has worldwide offices in the United States, Belgium, France,
Germany, United Kingdom, Poland, Singapore, Malaysia, Thailand and
China. For the fiscal year ended March 31, 2005, it reported revenues
of US$575 million. More information about SATO Corporation can be
found at www.sato.co.jp/english
About SATO International
SATO's international global headquarters, SATO International Pte. Ltd is located in Singapore. Previously an international division, it was incorporated as a holding company in Singapore in 2001 to oversee the sales, marketing and customer services activities of all its Group Member Companies. More information about SATO International can be found at www.satoworldwide.com
About Checkpoint Systems
Checkpoint Systems, Inc. is a multinational manufacturer and marketer of integrated systems solutions for retail security, labeling, and merchandising. Checkpoint is a leading provider of EAS and RFID systems, source tagging, hand-held labeling systems, retail merchandising systems, and barcode labeling systems. Applications include automatic identification, retail security and pricing, and promotional labels. Operating directly in 30 countries, Checkpoint has a global network of subsidiaries and provides professional customer service and technical support around the world. Checkpoint Systems, Inc.'s website is located at www.checkpointsystems.com.
