Imation will provide sourcing, sales, marketing and logistics support for HP Brand optical storage media
Dubai, 14 January 2004 – Imation Corp. (NYSE: IMN), a worldwide leader in data storage and information management, announces an agreement with Hewlett-Packard Company on the sourcing, sales, marketing, logistics support and product distribution of HP brand CD-R, CD-RW, DVD+R and DVD+RW media. This agreement is valid for optical media products marketed in Europe, Middle East Region and Africa, but specifically excludes HP’s Tape Media and Magneto Optical (MO) business.
“We are proud to have reached this important agreement”, Brian Plummer, Executive Director Imation Europe said. “Imation has a high reputation for its sales, marketing and supply chain expertise, built through more than 50 years experience manufacturing and delivering reliable data storage media. Imation has more than 20 years of experience in optical media.”
``Imation has established a strong reputation for growing its optical business in all areas of the world”, said Marcus Heap, Business Development Manager Imation Europe. “This agreement marks another phase in the long-standing relationship between our two companies. We are excited to grow the HP optical brand within the markets and regions the agreement covers.”
The complete range of Imation Brand storage media will continue to be brought to market separately from HP Brand optical media.
Imation and HP have begun transitioning management of the optical media brands to Imation Europe. The first product Imation will bring market under HP brand is 8x DVD+R, which will be available early 2004 in the Middle East.
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About Imation:
Imation Corp. is a leading developer, manufacturer and supplier of magnetic and optical removable data storage media. With one of the broadest product lines in the industry spanning from a few megabytes to hundreds of gigabytes of capacity in each piece of media, Imation serves customers in more than 60 countries, in both business and consumer markets. From large data centres to distributed networks, Imation's tape cartridges are used in data processing, security, business continuity, backup and archiving applications. Customer needs for reliability, convenience and portability to store and manage business data, photos, video, images and music on professional and home desktops and increasingly in consumer electronics devices drive demand for Imation's optical and diskette products. With more than 300 technology scientists and over 300 patents in the U.S. alone, Imation continues to pioneer today's proven magnetic and optical media technologies.
As of December 2002, Imation employed approximately 2,800 people worldwide. Revenues from outside the U.S. contribute approximately 49 percent of total sales. Imation Corp. is located in Oakdale, Minnesota, USA, the European Headquarters is based in Schiphol, near Amsterdam, The Netherlands. Imation Middle East is based in Jebel Ali Free Zone, Dubai.
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Your local press contact:
Imation Europe:
Christian Zins,
Tel: +49 213 226311,
E-mail: czins@imation.com
Imation Middle East:
Yaser Shan,
Tel: +971 4 8818008,
E-mail: yshan@imation.ae
Market Buzz International:
Cyrus Roche,
Tel: +971 4 3914873,
E-mail: cyrus@themarketbuzz.net
Certain information contained in this press release, which does not relate to historical financial information, including the Business Outlook, may be deemed to constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks and uncertainties that could cause the Company's actual results in the future to differ materially from its historical results and those presently anticipated or projected.
© Press Release 2004
