PMI’s Board announced in July 2008 its strategy to pursue the activities of operating, selling and servicing a range of instant service equipment. ”Since Imaging Solutions is involved mainly in the manufacture of equipment for wholesale photo-processing labs and its customers are not primarily concerned with instant service equipment, its activities do not represent a core element of the Group’s strategy”, the company said in a press release. Furthermore, trading at Imaging Solutions, as a manufacturer of high-value equipment, was being materially affected by the global credit crisis, Photo-Me added.
During the last year, the Board has considered whether synergies existed between the Group’s manufacturing and R&D capabilities in its two principal facilities – KIS (in Grenoble, South East France) and Imaging Solutions (in Zurich, Switzerland) – and whether the Swiss manufacturer could be further integrated within the Group. The Board concluded that possible synergies were minimal. As a result, it has initiated discussions with interested parties with a view to a possible sale.