PIA/GATF Summit Looks at Industry M&As

Davis illustrated lower equipment costs by citing Consolidated's recent agreement with Komori to buy $50 million worth of presses over five years at both favorable terms (implied discount) and quicker delivery.

A printer panel, comprising executives from companies that have been growing by acquisition, followed Davis. One panel participant, Steve Gillispie, CEO of Cadmus Communications, said that his acquisition strategies have been "organized around competencies and markets." Cadmus specializes in the production of scientific/technical journals.