UPFRONT
Lee Sheds Commercial Assets
DAVENPORT, IA—Lee Enterprises is divesting its standalone publishing and commercial printing operations in the Pacific Northwest and a twice-weekly newspaper in Oregon via asset sales to different buyers. The deals involve three buyers and were expected to be completed by early this month. The aggregate price of the Pacific Northwest properties (which include several Websites) is approximately $51 million.
Three Printers Join Forces
MARLBOROUGH, MA—Three independent printing firms—Pendleton Printers, Reservoir Printing and Apex Press—are being merged into a new company called Synergy Graphic Solutions. The company is owned by Doug Pendleton, president of his namesake company. Pendleton Printers and Apex Press will move their operations to Reservoir’s facility here, with virtually all employees being retained. The new company will specialize in color and black-and-white digital, offset and wide-format printing.
DAY Swings Duco Deal
DAYTON, OH—DAY International has signed a deal to acquire Duco International, a printing blanket manufacturer with facilities in Slough and Swindon, England. Completion of the deal is pending approval from the competitive trade authorities in Great Britain and Germany, as well as final approval of DAY’s financing.
Transcontinental Nets Publisher
MONTREAL—Transcontinental Inc. has acquired French-language educational resources publisher Cheneliere Education. Cheneliere is involved in the creation, development, adaptation, translation, publishing, promotion and distribution of educational resources. There are more than 5,500 titles in Cheneliere Education’s catalog. The company employs about 190 people and posts nearly C$50 million in annual revenues.
Advanced Builds New Plant
HARRISBURG, PA—Commercial printer Advanced Communications is building a 215,000-square-foot facility that will create at least 86 new jobs here over the next three years. The new plant will have space available for other tenants to lease, according to Pennsylvania Governor Ed Rendell’s office. The total cost of the project is $28 million, $3 million of which will equip the facility with new presses and related equipment to be determined.
Former Company Owners Sued
CANTON, OH—The now-closed Seiple Lithograph and its two former top executives are being sued by former company employees who claim Seiple funds were misused, according to a report in the Akron Beacon Journal. The class-action lawsuits allege Mark and Robert Schumacher used company funds and the corporate jet for their personal use as the firm reduced employee wages and benefits, the paper reported. Seiple closed its doors August 3 after efforts to sell the company failed, ex-President Mark Schumacher told the Journal.
Phoenix Color Expanding
HAGERSTOWN, MD—Book manufacturer and component producer Phoenix Color is embarking on a $5 million expansion project that will create 52 new jobs, according to The Associated Press. The new, standalone facility will be used for paper converting. It was slated to be completed last month.
Journal Nabs USA Today Pact
MILWAUKEE—The Journal Sentinel has signed a five-year agreement to print the national edition of USA Today for distribution in the northern and western suburbs of Chicago and the eastern half of Wisconsin. Terms of the deal were not disclosed. The deal sees Journal Sentinel print at least 75,000 copies per day Monday through Friday.
Vacchiano Takes X-Rite Helm
GRANDVILLE, MI—Thomas Vacchiano Jr. has been named president and CEO of X-Rite. He replaced CEO Michael Ferrara, who is retiring. Vacchiano was the president and CEO of Amazys Holding AG for more than five years prior to its acquisition by X-Rite this past July. Ferrara will consult for the company through the balance of the year.
Leever Pursues MacDermid
DENVER—Specialty chemical manufacturer MacDermid has received an offer from Daniel Leever, its chairman and CEO, to acquire all of the company’s outstanding stock at $32.50 per share. Leever’s acquisition group includes Court Square Capital Partners and Joseph Silvestri, a MacDermid director and partner with Court Square. MacDermid’s board of directors has formed a special committee of its outside directors to consider the proposal.
Sandy Alexander Goes Green
CLIFTON, NJ—Sandy Alexander has converted its St. Petersburg, FL, facility, MGA, to 100 percent wind-generated electricity. The move represents the company’s ongoing initiative to reduce dependence on fossil fuels, which started with the 2005 conversion to wind power at its Clifton, NJ, headquarters.
EFI Swings Jetrion Deal
FOSTER CITY, CA—Print management solutions provider EFI has agreed to acquire Jetrion LLC, a subsidiary of Flint Group for roughly $40 million in cash. Jetrion specializes in ink-jet printers, inks and custom printing systems for the label and packaging industries. The transaction is slated to close during the fourth quarter of 2006.
NAQP, NAPL Join Forces
PARAMUS, NJ—NAQP, formerly known as PrintImage International, has agreed to merge with the National Association for Printing Leadership (NAPL). Two-thirds of NAPL’s voting members must approve the merger. If approved, NAPL will be organized into three divisions for NAPL, NAQP and R&E Council.
