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PRESS RELEASE: Creo Named Top Technology Company: First in BC with $1 Billion Sales
VANCOUVER, BRITISH COLUMBIA--Creo Inc. (NASDAQ: CREO - News; TSX: CRE - News) is pleased to be named the largest high-technology company based in BC, by T-Net British Columbia. The fourth annual list ranked the 100 largest technology companies with BC headquarters by their 2001 revenues.
Creo is also British Columbia's first technology company to achieve revenue of one billion Canadian dollars. Creo reported revenue of $1,018,225,000 in 2001; an increase of $91 million or 9.8% over the previous year. Creo's revenue was more than twice that of the second largest company on the T-Net 100, MacDonald Dettwiler and Associates ($481.3 million), and nearly three times that of PMC-Sierra ($346.2 million), third on the list.
"BC is a fabulous place to grow a successful technology company," says Amos Michelson, Creo CEO. "Creo was founded in Burnaby nearly 20 years ago and today our products are recognized as the finest in the world. We believe that our BC origins, combined with the excellent local talent that we have been fortunate enough to recruit, gives us a truly unique advantage in our global market."
Creo has been recognized for many achievements:
Creo employs 4100 people worldwide-about 1100 in the British Columbia headquarters. Regional offices are located in Boston, Brussels, Tokyo, Hong Kong, Sydney, and Herzlia, Israel. Creo's 25,000 customers include commercial, publication, packaging, and newspaper printers, as well as creative and business professionals. Creo manufactures more than 300 products, including professional digital camera backs, color and copydot scanning systems; inkjet and halftone digital proofers; workflow management tools; variable information workflow systems; computer-to-film and computer-to-plate devices; and color servers for high-speed, print-on-demand digital printers. Creo also supplies on-press imaging technology and components for digital presses to the world's largest printing press manufacturers.
- Creo's progressive human resources policies, management practices, and consumer relations were graded 'A' by The Corporate Ethics Monitor. Of a select number of Canadian technology companies, Creo ranked the highest for ethical performance with 73 percent. The next highest score was 33 percent.
- The 50 Best Ethical Stocks for Canadians recommended Creo for socially responsible investors.
- Corporate Knights Inc. listed Creo as one of Canada's best corporate citizens and awarded the company a silver medal for its employee and environmental programs.
- Creo is rated as one of BC's best companies to work for (Wyatt Canada, BC Business magazine), as well as one of the best places to work in the country (Canada's Top 100 Employers).
- Creo is Canada's 11th largest high-tech company (Canadian Business) and one of the 50 fastest growing technology companies in the country (2002 Deloitte & Touche Canadian Technology Fast 50).
- Creo invested C$146.7 million in research and development last year, ranking 12th on the list of the largest investors in Canadian R&D (Research Infosource Inc.).
Creo is also applying its award-winning SQUAREspot® thermal imaging heads to the liquid crystal display (LCD) market. In addition, Creo recently demonstrated the application of precision opto-mechanical systems to all-optical switching for the telecommunications industry.
Last month Creo announced that it intends to acquire the US-based software developer ScenicSoft, Inc. for approximately $14.82 million.
Creo is a world leader in solutions for the graphic arts industry. Core product lines include image capture systems; inkjet proofers; thermal imaging devices for films, plates and proofs; professional color and copydot scanning systems; and workflow management software. Creo is also an Original Equipment Manufacture supplier of on-press imaging technology, components for digital presses, and color servers for high-speed, print-on-demand digital printers. Creo trades under the symbols CREO on NASDAQ and CRE on the Toronto Stock Exchange. www.creo.com
(C) 2002 Creo Inc. The Creo product names mentioned in this document are trademarks or service marks of Creo Inc. and may be registered in certain jurisdictions. Other company and brand, product and service names are for identification purposes only and may be trademarks or registered trademarks of their respective holders. Data is subject to change without notice.
(First posted on Wednesday, September 11, 2002 at 14:35 EDT)