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Xaar PLC (XAR)

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Tuesday 24 January, 2012

Xaar PLC

China Staff Changes

RNS Number : 0411W
Xaar PLC
24 January 2012
 



 

 

 

FOR IMMEDIATE RELEASE

24 January 2012

 

 

Xaar plc

 

China Staff Changes

 

Xaar plc ("Xaar" or "the Group" or "the Company"), the inkjet printing technology group headquartered in Cambridge, announces that its representative office staff in China ("the China staff"), comprising seven employees and two contractors, have resigned with immediate effect. 

 

At the end of December 2011, the China staff raised some concerns about the perceived unfair treatment of both themselves and some Chinese customers compared to other regions.  The Company undertook a detailed investigation into the concerns, which included allegations that Xaar's pricing and shipment policies had created an unfair market.  Xaar has taken the allegations extremely seriously and, having completed a thorough investigation, has found no evidence to substantiate the allegations. 

 

However, the China staff rejected the conclusions of the investigation, and have now resigned, despite intensive efforts on the part of the Company over the past two weeks to resolve the situation amicably.

 

Sales order processing and product distribution of Xaar's technology into China is handled by an independent trading company, and therefore supply channels are not expected to be affected.  At this stage the impact of the resignations is not expected to be material to Xaar's 2012 earnings. 

 

Short term actions to support Xaar's Chinese customers are being implemented immediately, and an update on the Company's longer term arrangements for China will be provided with its 2011 results announcement on 20 March 2012.

               

END

 

CONTACTS

 

Xaar plc:

01223-423663

Ian Dinwoodie, Chief Executive

www.xaar.com

Alex Bevis, Finance Director




Singer Capital Markets Limited:

020-3205-7500

Shaun Dobson




Bankside Consultants:


Simon Bloomfield

020-7367-8888 / 07771-758517

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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