Scitex-HP ad
Scitex is the latest in a long line of Israeli firms forced to make cutbacks recently, only this time the cuts are being made by a foreign parent company, Hewlett Packard (HP). HP will now fire 60 of the employees of its subsidiary and will fold the company into its Indigo Division.
Indigo has offices in Ness Ziona and Kiryat Gat.
October has seen a cascade of business failures for Israel Startup Nation characterized by multiple rounds of layoffs, So, Scitex is just the latest.
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Founded by Efraim “Efi” Arazi in the late 1960s, Scitex was a producer of textile manufacturing machinery, specializing in systems and equipment for the graphics design, printing and publishing markets. In January 2004Scitex Digital Printing, based in Dayton, Ohio, was sold to the Eastman Kodak Company. It was another Scitex company, Scitex Vision, that was acquired by Hewlett-Packard in November 2005.
Herzlia, Israel-based Scitex Corporation Ltd. worked in Visual Information Communication. The company designed, developed, manufactured, marketed and supported products, systems and devices, primarily for the industries that parallel its three business units: Graphic Arts Group (color electronic prepress and short-run, color digital printing), Scitex Digital Printing Division (variable data high-speed digital printing), and Scitex Digital Video Division (non-linear video editing and special effects generation).
In a statement, HP said, “At this time it is not possible to expand regarding the activity of HP Industrial. The company continues to innovate and create value for its clients, while focusing on encouraging the digitization of the entire industry in different ways and through advanced technologies.”
HP Scitex is an important division in Israel with its headquarters in Netanya, and we continue to invest in its R&D, manufacturing and growing the corrugated business. HP continues to innovate and create customer value and will remain focused on driving the continued digitization of industry with agility, creativity, and cutting-edge technologies.”
