UPFRONT
Bank Closes In-Plant Facility
MALDEN, MA—The Bank of America plans to close its in-plant printing operation here and transfer the work to other states, The Boston Globe reported. The move, which begins this month and is expected to take place by next spring, will cost 150 jobs. Printing work will be sent to printing facilities in Delaware, New Jersey and Texas.
InnerWorkings Sues Yahoo
CHICAGO—Printing broker InnerWorkings has filed suit against Yahoo Inc., claiming the online giant's Yahoo Finance understated earnings and revenue information about the company since at least last March, according to Chicago Business. InnerWorkings claims the misinformation has been detrimental to its stock price. The complaint says that Yahoo Finance reported InnerWorkings' 2010 revenue was $419 million; InnerWorkings contends it was actually $489 million.
BurdgeCooper Adds Ponte
LOS ANGELES—BurdgeCooper has completed a deal to acquire Phoenix-based Ponte Graphics, which has served Arizona's legal and professional market with printing and engraving services for more than 40 years. BurdgeCooper will maintain a Phoenix warehouse, while printing services will be provided from Los Angeles.
Fry Forges Partnership
MECHANICSBURG, PA—Fry Communications and Godengo, an online magazine platform provider, have forged a strategic partnership. As part of the agreement, the two companies will cross promote their services and work together on multichannel solutions to help publishers reach readers in print and online.
Pointsmith Installs Press
KATY, TX—Pointsmith, an at-store point-of-purchase marketing management company based here, is increasing its capacity with the installation of a new 41˝, six-color KBA Rapida 106 sheetfed offset press with full UV capabilities. The Rapida 106 is equipped with the KBA Logotronic management system, KBA Densitronic combined density and color measuring system for quality control, and the Drivetronic feeder.
American Press Is Closing
GORDONSVILLE, VA—American Press, a privately owned magazine and catalog printer, is shutting down its plant here, leaving 120 employees without a job. The family owned business, founded by Marshall Pettygrove and run by his son, will cease operations and close its doors by the end of this month. American Press has been printing and distributing products like tourism brochures and periodicals from its Orange County headquarters since 1972.
RR Donnelley Acquires Helium
CHICAGO—RR Donnelley has acquired Andover, MA-based Helium, a company in which it took an equity position in September 2009. Helium is a writing community and social publishing platform, serving publishers and other content managers with local and lifestyle editorial content. Its freelance marketplace enables publishers and others to access and commission content used in books, Websites, catalogs, newspapers, magazines and other communications.
Solisco Nets Sunday Press
SCOTT, QUEBEC—Solisco Printers has the distinction of being the first North American printer to install a 75˝-wide Goss Sunday 3000 web offset press equipped with DigiRail digital inking, Goss Ecoset dryer and dual folders. The gapless press, to be installed later this year, is capable of producing more than three million magazine-size pages per hour. The width of the 2x8 press will allow production of multiple product formats and page counts and help triple productivity without adding personnel.
Kennickell Goes Global
SAVANNAH, GA—The Kennickell Group, a 119-year-old print and fulfillment provider, has opened a fulfillment warehouse in Hong Kong. This facility is the product of a joint venture between Kennickell and one of China's largest printers, Asia One. Kennickell personnel were in Hong Kong to complete the training of staff in June, with operations beginning on June 27. This new facility will be used to store marketing collateral material for Kennickell's customers that do business in Asia.
Fire Strikes Franchise Shop
PEMBROKE PINES, FL—The fire that struck a Sir Speedy printing franchise here recently caused an estimated $250,000 in damage, The Palm Beach Post reported. No one was injured. The cause of the blaze is still being investigated, but Pembroke Pines Fire Department officials told the paper that it didn't appear to be suspicious. According to the newspaper, the fire emanated from the rear of the building and was extinguished before it could reach highly flammable chemicals at the facility. PI
