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Xaar was formed in Cambridge, UK to acquire, develop and commercially exploit a new digital inkjet printing technology arising out of work done by Cambridge Consultants Ltd . Xaar’s business concentrated on licensing four granted patents and know-how to printer manufacturers, primarily for use in office applications.
Xaar completed a successful listing on the London Stock Exchange. The flotation raised a total of £15 million after expenses. Of this, £10 million represented new capital for the Company to accelerate development of the Group.
Xaar acquired MIT, an existing licensee. MIT was integrated into Xaar and became Xaar’s dedicated manufacturing facility at Järfälla, Sweden. Xaar’s product portfolio has expanded considerably since this acquisition.
Xaar introduced its first full production printhead incorporating its unique, patented greyscale technology. The Xaar 318 is manufactured in Japan by Xaar licensee Toshiba TEC and offers photographic-quality printing with no compromise in speed.
Further greyscale developments led to the launch of the Xaar 760, delivering a choice of binary or greyscale drop sizes to provide the ultimate in flexibility, reliability and speed.
Xaar invested £6 million in a new manufacturing plant in Huntingdon, UK.
Xaar launched the revolutionary Xaar 1001 printhead with TF Technology™ delivering a significant step forward in inkjet reliability. Xaar is confirmed as a market-leader in the innovation of digital inkjet printing.
The Xaar Proton was launched,to deliver outstanding print quality, superior throughput and exceptional value for a range of applications, including wide-format graphics and coding & marking.
Five label presses were launched by Xaar’s OEMs, demonstrating the Xaar 1001’s high quality, single-pass printing capability.
£14 million was raised, after expenses, through placing an open offer to fund the £22 million capacity expansion at the Huntingdon facility to meet growing demand for the Xaar 1001 in the ceramics market.
Xaar completes a second consecutive year above 25% sales growth through the adoption of the Xaar 1001 by the ceramics and label printing sectors.
Xaar announced the launch of the Xaar 1001 GS12, allowing ceramic tile manufacturers to achieve deep colour intensity for bolder tile colours and effects. Alternatively the Xaar 1001 GS12 gives the same ink coverage as the established Xaar 1001 GS6, but at double the print speed.
Ceramics conversion accelerates, driven by adoption of the technology in China. Further capital investment is undertaken to increase capacity by a further 75% (completes mid-2014) versus the status at the end of 2012.