Fargo Electronics, Inc. And Sony Chemicals Corporation Announce Creation of New Global Technology And Business Alliance, Amicable Settlement Of All Pe
MINNEAPOLIS, (BUSINESS WIRE), Aug. 13, 2002–Fargo Electronics, Inc. (Nasdaq:FRGO), Sony Chemicals Corporation Japan (SCC), and Sony Chemicals Corporation of America (SCCA) today announced the creation of a global technology and business alliance, as well as the amicable settlement of all pending litigation between the companies.
“The new alliance between Sony Chemicals and Fargo will link technologies from both companies to help produce innovative, technologically advanced ID card printers/encoders,” said Satoshi Kondo, President of Sony Chemicals Corp. of America. “Sony will provide technical assistance, know-how, and expertise in such areas as manufacturing, smart card, and other electronic and chemical technologies. Fargo`s global network of Professional Series Distributors (PSD`s), Fargo Solution Providers (FSP`s) and Fargo Import Suppliers will benefit from the ties between our two companies.” “We are very pleased that Fargo and Sony have been able to achieve this alliance and end our litigation,” said Gary R. Holland, President and CEO of Fargo. “Sony Chemicals has agreed that they will sell ribbons for Fargo printer/encoders only to Fargo. By forging these new ties, we will be able to apply the very best expertise and technical knowledge to the important task of advancing personal information and transaction security through the use of personalized plastic ID cards. Our distribution system will be enhanced by Fargo`s addition of Sony technology, and end users will benefit from new innovative technologies we develop as a result of this alliance.” Sony Chemicals has, as one of its core business technologies, dye-sublimation ribbon development and manufacturing for use in ID card printers. Sony Chemicals also has advanced RF chip and smart card technology for use in a variety of security-related applications. Sony has, within its many corporate entities, advanced electronics technology along with strong, innovative knowledge of printing mechanisms design. Fargo is the world’s leading manufacturer of desktop card printing and encoding systems used to produce plastic identification cards. As a result of the alliance, the companies have amicably resolved the litigation that was filed by Fargo on April 24, 2002 in Federal District Court of Minnesota. The specific terms of the settlement are required to be kept confidential. ## About Fargo Fargo Electronics, Inc. (Nasdaq:FRGO) is the world’s leader in innovative technologies for desktop plastic card personalization systems. Based in Eden Prairie, Minnesota, Fargo is the only manufacturer to offer three distinct technologies in printing systems–High Definition Printing™ (reverse image), traditional Direct-to-Card printing (dye-sublimation), and CardJet Printing Technology™ (inkjet)–to personalize plastic identification cards, complete with digital images and text, lamination, and electronically encoded information. Personalized identification cards provide physical, information, and transaction security for a wide variety of applications including Corporations, National IDs, Drivers’ Licenses, Universities, Schools, Government Installations, Transportation, Casinos, Healthcare Facilities, E-commerce, Retail Stores, Correctional Institutions, Associations, Sports Events and Recreation Sites. More than 60,000 Fargo systems have been sold in the U.S. and over 80 other countries. For more information, visit Fargo’s Web site at