Erez Shachar “A merger with Scitex “strategically makes sense, but conditions aren’t ripe, No negotiations are in progress, but feelers are out”
NUR Macroprinters Ltd.(NURM), a maker of giant-sized digital inkjet printers, is charging ahead by harking back to the days before broadcast advertising reigned supreme. The 433% jump in NUR’s share prices on the Nasdaq Stock Market over the past 10 months to $15.20 Wednesday reflects investor confidence in the company. On Wednesday, the company reported an 11th straight quarter of record revenues and earnings. Annual 1999 revenues rose 65% to $60.7 million, and net profit soared 395% to $7.17 million. NUR considers its major rivals to be privately held Vutek Inc. of New Hampshire and Israel’s Scitex Corp. (SCIX), where Shachar got his start in the printing business. A merger with Scitex “strategically makes sense, but conditions aren’t ripe,” said Erez Shachar CEO. “No negotiations are in progress, but feelers are out”, he said.- By Amy Teibel;972-2-537-6985;ateibel@ap.org
