AstroNova and Newly Acquired MTEX Subsidiary Unveil Innovative Solutions at Drupa 2024 Printing Technology Show
AstroNova (Nasdaq: ALOT), a leader in data visualization technologies, has unveiled new sustainable printing technologies at Drupa 2024. This exhibition, held from May 28 to June 7 in Dusseldorf, Germany, features their recent acquisition, MTEX NS. Acquired on May 6, 2024, MTEX NS enhances AstroNova's offerings in packaging, labels, textiles, and industrial applications. Key products showcased include AQUAFLEX, TrojanLabel T2-PRO, ATOM 3, MULTI 800, and FLEXPACK. These innovations emphasize AstroNova's dedication to driving value and addressing industry needs. The company expects commercial shipments of the TrojanLabel T2-PRO starting in September 2024.
- AstroNova unveiled new sustainable printing technologies at Drupa 2024.
- Acquisition of MTEX NS on May 6, 2024, strengthens AstroNova's market position.
- Showcased innovative products: AQUAFLEX, TrojanLabel T2-PRO, ATOM 3, MULTI 800, and FLEXPACK.
- Positive reviews and order bookings for TrojanLabel T2-PRO during Beta trials.
- MTEX NS's MULTI 800 received several orders from European and American customers.
- No immediate revenue impact from the showcased products reported.
- Shipping of TrojanLabel T2-PRO scheduled only for September 2024, indicating a delay.
- Financial performance or cost implications of the MTEX NS acquisition not disclosed.
MTEX NS, which was acquired by AstroNova on May 6, 2024, specializes in providing advanced printing solutions tailored to various market segments, including packaging, labels, textiles and industrial applications. By integrating the expertise and product offerings of MTEX NS into its portfolio, AstroNova has significantly strengthened its position in the color digital printing market.
At Drupa 2024, the world’s leading trade fair for printing technologies, AstroNova and MTEX NS are showcasing a range of groundbreaking products and solutions at a combined booth. Among the highlights are the latest advancements in label and packaging printing, including the acclaimed AQUAFLEX, TrojanLabel T2-PRO, ATOM 3, MULTI 800 and FLEXPACK solutions.
“We are thrilled to unveil our latest solutions, which underscore our dedication to driving innovation and delivering value to our customers across diverse market segments,” said Greg Woods, President and Chief Executive Officer of AstroNova. “With our expanded portfolio, we are well-positioned to address the evolving needs of the printing industry and drive sustainable growth.”
Product Information
AQUAFLEX from MTEX NS is a versatile and high-performance printing solution for untreated and treated papers designed to meet the demands of large format packaging customers. AQUAFLEX is primarily targeted at the paper bag segment, and there also has been significant interest from cup manufacturers, pet food packaging, and decorative paper printing. The presence of AQUAFLEX as an industrial solution garnered significant attention at Drupa 2024.
The TrojanLabel T2-PRO system from AstroNova redefines digital label printing with its precision and speed, catering to the evolving needs of the label industry for customized and on-demand printing solutions. The T2-PRO has been in active Beta trials at several customer sites since the beginning of 2024 and has received highly positive reviews. The Company is booking orders for post-Beta commercial units at Drupa 2024 and plans to ship the TrojanLabel T2-PRO system starting in September 2024.
The ATOM 3 by MTEX NS demonstrates AstroNova’s commitment to innovation for in-house professional label printing, offering unparalleled reliability and versatility for brands and print shops.
The FLEXPACK series by MTEX NS represents the next generation of digital flexible packaging printing technology, delivering superior performance and productivity for flexible packaging printers.
The MULTI 800 by MTEX NS is a digital printing solution for full color short-run printing on paper bags and cardboard boxes, and is a smart entry-level system for professional packaging and paper bag production. MTEX NS reported several order bookings for MULTI 800 at DRUPA from customers across
AstroNova and MTEX NS are hosting companies at their large, combined booth in Hall 5 at Drupa 2024. You can view and download booth pictures and videos from https://astronovaproductid.com/blog/mtex-ns-acquisition/.
For more information about AstroNova and its portfolio of printing solutions, visit www.astronovainc.com.
About AstroNova
AstroNova (Nasdaq: ALOT), a global leader in data visualization technologies since 1969, designs, manufactures, distributes, and services a broad range of products that acquire, store, analyze, and present data in multiple formats.
The Product Identification segment provides a wide array of digital, end-to-end product marking and identification solutions, including hardware, software, and supplies for OEMs, commercial printers, and brand owners. The Test and Measurement segment provides products designed for airborne printing solutions, avionics, and data acquisition. Our aerospace products include flight deck printing solutions, networking hardware, and specialized aerospace-grade supplies. Our data acquisition systems are used in research and development, flight testing, missile and rocket telemetry production monitoring, power, and maintenance applications.
AstroNova is a member of the Russell Microcap® Index and the LD Micro Index (INDEXNYSEGIS: LDMICRO). Additional information is available by visiting https://astronovainc.com/.
Forward-Looking Statements
Information included in this news release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not statements of historical fact, but rather reflect our current expectations concerning future events and results. These statements may include the use of the words “believes,” “expects,” “intends,” “plans,” “anticipates,” “likely,” “continues,” “may,” “will,” and similar expressions to identify forward-looking statements. Such forward-looking statements, including those concerning the Company’s anticipated performance, involve risks, uncertainties and other factors, some of which are beyond our control, which may cause our actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. These risks, uncertainties and factors include, but are not limited to, (i) those related to the benefits of the acquisition of MTEX NS and the Company’s broadened product portfolio and (ii) those factors set forth in the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2024 and subsequent filings AstroNova makes with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The reader is cautioned not to unduly rely on such forward-looking statements when evaluating the information presented in this news release.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240604070395/en/
Scott Solomon
Senior Vice President
Sharon Merrill Advisors
(857) 383-2409
ALOT@investorrelations.com
Source: AstroNova
FAQ
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