Delphax Technologies placed in bankruptcy

Delphax Elan 500.
Delphax Elan 500.

With a reported $8 million in liabilities and $1.3 million in assets, Delphax Technologies Canada (Mississauga, Ontario) has been placed in Ontario-court-ordered bankruptcy. On Thursday, August 10, the manufacturer of its flagship Elan 500 inkjet press was put into bankruptcy by Air T Incorporated based in Maiden, North Carolina, as the only secured creditor for about $5 million. Air T subsequently completed a foreclosure on all personal property and rights and undertakings of Delphax Canada. The meeting of creditors will be Tuesday, August 29. Air T made a sizable investment in the company in late 2015. All manufacturing and research and development for the Elan had been done in Canada. The Delphax Elan 500 is a colour sheetfed inkjet press producing up to 500 duplex letter images per minute. Every stationary printhead on the Elan has 70,400 jets that can produce up to 700 million droplets of ink per second. The press can output full CMYK colour at 1,600-dpi print resolution.

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Tony Curcio is the editor of Graphic Arts Magazine.