TIGON LIMITED
Financial services group Tigon has acquired a further 49% of InkTec SA (Pty)
Ltd (formerly Virtual Software), increasing its shareholding in the printer ink
refill company to 83%. The shares were purchased for an undisclosed cash sum
from the original vendors who are leaving South Africa. Since late 1999 when
Tigon became involved in the company, InkTec has grown by 20% to 30% a month, a
growth rate which is expected to be maintained or exceeded this year.
InkTec is the market leader in the United States where 60% of the market is now
accounted for by refills.
The InkTec range of premium quality printer cartridges and refills offers
savings of as much as 70% to users of inkjet printers for product of OEM
quality. Print quality, which is a vital requirement for the consumer, is
maintained at the same level as OEM product, as evidenced by InkTec's repeat
orders. The InkTec range includes inkjet refill kits manufactured to match the
specific ink requirements of various printers, as well as compatible Epson and
Canon printer cartridges, remanufactured toner cartridges and speciality media
papers. The company will shortly be selling locally produced remanufactured
printer cartridges at extremely cost-effective prices.
The exponential growth of the InkTec business has resulted in the head office
and distribution centre being relocated from Durban to Gauteng.
Ends
ISSUED FOR : Tigon Limited
CONTACT : Tony Hodgkinson Tel : (033) 394 2854 or Sue Bennett
Tel : (011) 440 5640
FAX NO: : (033) 394 2218 or (011) 440 5642
E-MAIL :
ISSUED BY : TISH STEWART PR ASSOCIATES
CONTACT : Tish Stewart (011) 325 4195 / 083 443 6399
FAX NO : (011) 325-4199
E-MAIL : Tish@tspr.co.za
DATE : 7 February, 2001
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