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December 4th, 2002 - Formax Technologies Inc. (FTI), a Formax affiliate, recently announced the acquisition of the Tab Products FHE Division in Turlock, CA. |
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 a direct equity stake in one of its major customers. This equity stake will ensure continued and future business as well as provide new management and resources. Gary Beck, Operations Manager of FTI states, "The acquisition of the Tab FHE Division by FTI will allow us to move forward business as usual in the short term, while giving us more financial stability and renewed focus on product quality and engineering." |
FTI plans on continuing operations of the plant in Turlock and to aggressively pursue other business opportunities. |
All vendor inquiries should be direct to Carlos Sanchez in Purchasing and all sales inquiries to Gary Beck, Operations Manager. |
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