UPFRONT

Printcafe Stockholders File Suit

PITTSBURGH—Printcafe Software shareholders have filed a class action lawsuit against the company alleging, among other things, that Printcafe made false and misleading statements in connection with its initial public offering and subsequent press releases through October 22, 2002. Marc Olin, chairman of the board and CEO, and Joseph Whang, CFO and COO, are also named as defendants in the complaint. The lawsuit has been filed in the United States District Court for the Western District of Pennsylvania.

Hi-Liter Graphics Sold

BURLINGTON, WI—Craig Faust, former president of The Printery in New Berlin, WI, has purchased Hi-Liter Graphics, according to The Business Journal of Milwaukee. Terms of the deal were not disclosed. Faust purchased the assets of the company, including all of its printing equipment and a 104,000-square-foot printing plant. The sale of the company's commercial printing operations comes just four months after Hi-Liter Graphics sold the Wisconsin Hi-Liter, a 33,500-circulation shopper, to Southern Lakes Newspapers, publisher of 14 weekly newspapers.

Creditors Seek Liquidation

FENTON, MO—Creditors of A.R. Fleming Printing have filed a petition calling for the involuntary liquidation of the company for $442,718 in unpaid debts, according to the St. Louis Business Journal. The petition in the U.S. Bankruptcy Court Eastern District of Missouri names Unisource Worldwide of Norcross, GA; Magnet LLC, a supplier of promotional magnets based in Washington, MO; and Missouri Mounting, a Montgomery City, MO-based maker of custom designed point-of-purchase displays, as creditors. Unisource, a distributor of commercial printing paper and packaging products, is the largest creditor in the petition with a claim of $289,512 against Fleming. Missouri Mounting's claim is for $102,188. Magnet is seeking $51,016.

Central Coast Begins Expansion

GROVER BEACH, CA—Construction is underway at Central Coast Printing's new $1.7 million headquarters located here. The 17,000-square-foot facility will more than double the company's existing leased space and allow it to consolidate its Grover Beach operations in a single location. The new plant will contain about $2 million worth of existing equipment plus an additional $500,000 worth of new machinery when it opens this fall.

Jostens Acquired by CSFB

MINNEAPOLIS—The Credit Suisse First Boston (CSFB) private equity division has agreed to pay about $48 a share for Jostens' common stock—worth close to $500 million—and to assume the group's debts of more than $600 million. Jostens was seen as an attractive buy because it generated high free cash flows and required little capital expenditure and working capital. Jostens, established 105 years ago, is reportedly the market leader in the U.S. yearbook market, printing half of the high school yearbooks and is a leading supplier of graduation products.

Colter & Peterson Opens Office

PARAMUS, NJ—Colter & Peterson has opened its new corporate office in the same location as the National Association for Printing Leadership (NAPL) building located here. The new offices will house the company's corporate staff, as well as the sales and marketing departments. The relocation allows the company to expand its parts storage areas and provides the necessary space for the recently increased technical support staff. As part of this move, Colter & Peterson will vacate its Pennsylvania warehouse. The equipment stored there will be moved to both the company's Paterson, NJ, facility and to new warehouse space the company has obtained in Iowa. Colter & Peterson will expand its Iowa-based Amatco division to offer an enhanced paper cutter rebuilding service.

Cadmus Wins Diversity Award

RICHMOND, VA—Cadmus Specialty Publications has won the All Star award from the Richmond Human Resources Management Association and Workforce One. The award is given to organizations that effectively deal with diversity in the workplace.

Modern Way Acquires In-plant

OOLTEWAH, TN—Modern Way Printing & Fulfillment has acquired College Press from Southern Adventist University. Company officials expect the acquisition of College Press, which has printed books and publications for the Adventist community since about 1917, to boost revenues from $4 million to about $7 million. The deal enables Modern Way to take on larger print jobs, company executives say.

Merrill Sees Increased Earnings

ST. PAUL, MN—Merrill Corp. has announced a 16 percent increase in net income for the fiscal first quarter ended April 30, 2003. Despite a 3 percent decrease in revenue for the quarter to $154 million, net income for the fiscal quarter was $3.6 million, an increase of $500,000 from the same period in the prior fiscal year.

Donnelley Increases Distribution

ATLANTA—RR Donnelley Logistics has opened a new package and print distribution center here. The 232,000-square-foot facility will handle distribution of business-to-consumer and business-to-business packages and merchandise returns along with printed materials ranging from direct mail, retail inserts, catalogs and magazines destined for the Southeastern region of the country.

Ohio Print Firm Gets Top Honors

CINCINNATI—Multi-Color Corp. recently received top honors as one of Ohio's best long-term investments in the annual "Plain Dealer (PD) 100" report. Multi-Color ranked number five among companies having the greatest rise in stock prices since 1999. Categorized as one of Ohio's fastest growing companies, Multi-Color had the 15th greatest increase in revenues and net sales in 2002. Multi-Color also rated high in its return on investor equity. Out of 100 progressive companies, Multi-Color ranked number 40 in overall achievement.