Swiss-based Wadjet AG, a leading international manufacturer of wide-format, digital printers, started operations at its North American subsidiary, Wadjet America, Inc in Laguna Niguel, California.
Mantel Digital AG spun-off its wide format, digital printer manufacturing business into Wadjet AG - a separate, standalone company earlier this year.
Mantel Digital CEO Jon-Andri Mantel explained, "We have been evaluating how to grow our highly innovative, wide-format printing businesses for several years now and believe that the combination of the business that we have built so far, with new investment and additional management expertise, into a new company is the best way to ensure the success of these products."
Mr. Mantel also announced the appointment of John Harwell as the CEO of both Wadjet AG and Wadjet America, Inc. Harwell said, "The spinoff will give both businesses the ability to focus on and pursue their respective growth strategies. It comes at a very good moment as we begin to roll out the next generation of DuralPrint and DataScreen products with much higher resolution."
Mantel employees directly associated with the DuralPrint and DataScreen manufacturing business will be transferred to the new company along with the sales of all consumables and services related to these printers. Wadjet AG will be co-located with Mantel Digital and share facilities, IT and other services.
The offices of Wadjet America, Inc. will be located at the same location as the former Mantel Digital, Inc. in Laguna Niguel, California. Mantel Digital will continue to be the exclusive distributor for Wadjet products in most of Europe while Wadjet AG will develop the other markets, including the United States, South America and Asia. Both Mantel Digital and Wadjet are closely held, private enterprises headquartered in Wädenswil, Switzerland.