Scitex reviews SDP options

Scitex is reviewing options for Scitex Digital Printing, including the sale of the high-speed ink-jet division that provides the bulk of its profits and revenues.

The firm has appointed Goldman Sachs as advisors on its options.

The move follows renewed speculation in the Israeli business press that it was discussing a possible sale. Rumours first surfaced in the summer (PrintWeek, 17 July).

This round of rumours, in Israeli journal themarker.com, suggested Xerox and Oc as potential suitors and said a deal would value SDP at 155m ($260m).

In another Israeli publication, Globes, Scitex president and chief executive Nachum Shamir declined to comment on the rumours.

The report quoted Shamir as saying: We think that SDP has latent value within Scitex that has not yet been fully expressed Were in no hurry to do anything before we check it out.

Scitexs share price closed up 14% yesterday at 2.89 ($4.86), a 52-week high, after it reported strong third-quarter results.