UPFRONT
Kinko's Buys ImageX
DALLAS—Kinko's has acquired ImageX for approximately $16.5 million in cash. ImageX finished the fourth quarter with $12.3 million in cash and total assets of $25.2 million. Kinko's will use ImageX's technology to enhance its DocStore and Kinkos.com offerings. Kinko's does not now offer an online system by which customers can order business cards or stationery. But that will change once the acquisition is completed.
Watchtower Adds Web Presses
WESTMONT, IL—The Watchtower Society of the Jehovah's Witnesses is set to install seven MAN Roland Lithoman web presses in July, with two going to the U.S. and one each slated for Mexico, Brazil, England, South Africa and Japan. Each is a single-web, four-unit system in a 64-page configuration, capable of operating at speeds of up to 45,000 cylinder revolutions per hour. The new presses are slated to produce the society's two leading publications.
Cereus Celebrates Anniversary
PHOENIX—To celebrate its 30th anniversary, Cereus Graphics held an open house recently. In addition to providing an opportunity to show off the company's state-of-the-art, 37,000-square-foot plant, the event featured demonstrations of the company's new six-color Komori Lithrone S40 sheetfed press and seven-color HP Indigo 3000 digital press capable of variable data printing.
Crabar/Witt Buys Company
KANSAS CITY, MO—Amvest Financial Group, a national investment banking firm specializing in the printing industry, has announced the completion of the sale of its client, Edison Business Forms of Edison, NJ, to Crabar/Witt, Dayton, OH. Edison provides medium- to long-run unit sets and continuous sets, business form design, prepress, printing and collating of multi-part forms.
Flint Ink Launches Company
ANN ARBOR, MI—Flint Ink has created Jetrion, a new global company providing a full range of industrial ink-jet products, services and custom printing solutions. Reportedly, Jetrion will provide a unique combination of ink, hardware, software and services for continuous ink-jet (CIJ) and drop-on-demand (DOD) applications.
MAN Roland Cuts Jobs
OFFENBACH, GERMANY—The MAN Roland Druckmaschinen Group has launched a package of measures designed to save around EUR 130 million over the next few years. Fundamental objectives are to streamline the organization and thus accelerate reaction time to changing market conditions. The cost of the restructuring and a decline in sales mean that the company's pre-tax earnings of EUR 10 million are significantly lower than the previous year's figure of EUR 89 million. A total of 373 positions are currently being eliminated in the sheetfed press sector as part of the planned facilities consolidation measures. In addition, further personnel adjustments are planned for both the sheetfed and web press sectors, and for the sales companies.
Coastal Graphics Expands Plant
VERO BEACH, FL—Coastal Graphics has aggressive expansion plans this year to market its 25th year in business. The expansion will include the installation of what it claims is the area's first six-color Heidelberg MOS-H press. The finishing operations will be retooled and the equipment upgraded in order to provide a full-service bindery. The new bindery will include a 45˝ Seypa 115 PMC paper cutter, a 20˝ MBO folder and a six-pocket Muller Martini Minuteman saddle stitcher.
Quad Earns Printer of the Year
PEWAUKEE, WI—For the fourth consecutive year, Quad/Graphics has earned distinction as Time Inc.'s Weekly Magazine Printer of the Year. Quad/Graphics' plant in The Rock, GA, earned the honor for exceptional weekly production of Sports Illustrated, People, Time and Entertainment Weekly during 2002.
NY Governor Gets Award
NEW YORK—New York Governor George E. Pataki will be the recipient of the 51st annual Franklin Award for Distinguished Service. The award, presented by the Association of Graphic Communications (AGC), recognizes the outstanding achievements of world leaders and dedicated Americans. Pataki will receive the award on May 15 as part of the 2003 annual Franklin Event.
Printer Signs Strategic Alliance
TORONTO—Embassy Graphics has formalized a strategic alliance with Hong Kong-based Midas Printing's book division. The alliance is aimed at providing unique benefits to North American customers requiring overseas book printing. As part of the agreement, Embassy Graphics has become the exclusive sales and service agent for Midas Printing throughout the United States and Canada. In addition, Embassy Graphics will perform all of the digital prepress services in North America, transmitting approved computer-to-plate files and digital press proofs to Midas printing plants in Asia.
NAPL and SSPP Form Alliance
PARAMUS, NJ—The National Association for Printing Leadership (NAPL) and The Society for Service Professionals in Printing (SSPP) have formed a new alliance. SSPP, the only membership organization dedicated to meeting the needs of the customer service professional in the printing industry, will provide customer service information and training to NAPL's members.
Donnelley Acquires MLI
CHICAGO—R.R. Donnelley announced that it has acquired Momentum Logistics Inc. (MLI), a Florida-based provider of package distribution services in the Southeastern United States, for approximately $17 million. MLI's revenues were approximately $60 million in 2002. MLI operates sortation facilities and a dedicated fleet of vehicles to provide business-to-business and business-to-consumer package distribution services. In the business-to-consumer segment, MLI leverages the United States Postal Service (USPS) for last mile delivery to the home.
