Air T, Inc. (NASDAQ: AIRT) said it has completed its investment in Delphax Technologies, Inc. and its subsidiary, Delphax Technologies Canada Limited.
Nick Swenson, Air T´s Chief Executive Officer, commented, “Delphax has developed a disruptive inkjet production printing platform, investing over USD17 million into the elanâ¢ 500 over the past 5 years. Three elan 500 units have been installed at customer sites and they are performing in line with expectations.
“Air T´s debt and equity investment will allow Delphax to build inventories and initiate an effective sales and marketing strategy to accelerate the rollout of the elan 500. In addition, Air T is working with Delphax to develop a competitive leasing program.”