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August 16, 1988


By CBR Staff Writer

GEC Plc’s AB Dick in Chicago duly made its $100m to $200m acquisition in the US (CI No 989) on Monday, the target being IGX Corp of Waltham, Massachusetts, the company formed by the management buy-out three years ago of the Itek Graphix unit of Itek Corp, which was acquired by Litton Industries Inc. IGX makes pre-print products such as cameras, colour separation scanning systems, platemaking machinery, digital photocomposition equipment and document creation systems, and is intended to complement Dick’s print and photo reproduction machines. GEC is paying $150m for the company, which has 1,600 employees and plants in Rochester, New York; Nashua, New Hampshire and Cheltenham, Gloucestershire. It did $8m net on sales of $230m in the year to last month, and should lead to combined sales of $750m for Dick in the year to March 1989.

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