SAN ANTONIO, TX—Vertis Communications, of Baltimore, is consolidating some operations, which is prompting the closure of its San Antonio advertising insert printing facility, the San Antonio Business Journal reported. The move impacts approximately 90 employees. The company is said to be providing long-time employees with extended financial support and is encouraging affected employees to seek employment elsewhere within the Vertis organization.
BALTIMORE—A former American Color Graphics facility within the Vertis Communications chain has closed its doors permanently and another will shut down operations completely by next June, according to several news sources.
WEST BEND, WI—Serigraph Inc. will lay off roughly 50 employees, with some being offered early retirements, according to the Business Journal of Milwaukee. Sean Torinus, CEO of Serigraph, told the paper that sales to automotive and appliance customers—impacted greatly by the recession—have suffered and the company needed to get costs in line with reduced sales.
Transcontinental kept its momentum in the fourth quarter and ended fiscal 2008 with adjusted earnings per share of $1.73, compared to $1.50 in 2007, up an appreciable 15%. Adjusted net income, which excludes asset impairment, restructuring costs and unusual adjustments to income taxes, is a good indicator of the Corporation’s operating performance.
MONTREAL—Quebecor Inc. was unsuccessful in its bid with the Quebec Superior Court to stop its former printing subsidiary, Quebecor World, from purchasing a press to produce advertising inserts, according to Canadian Press (CP). A U.S. bankruptcy court also gave the green light for the purchase of two other presses, for a total investment of US$50 million.
METSA, FINLAND—M-real Corp., a subsidiary of Metsäliitto Group, has signed an agreement to sell its graphic papers business to Sappi Ltd. for an enterprise value of 750 million euros. The deal consists of 500 million euros in cash and assumed debt, 200 million euros in a vendor loan note from Sappi to M-real and 50 million euros of newly issued shares in Sappi.
HEIDELBERG, GERMANY—10/02/2008—Heidelberger Druckmaschinen AG (Heidelberg) will, based on first calculations, achieve sales between 800 and 820 million Euro in the second quarter of the current financial year 2008/2009 (July 1 to September 30). Thus, sales volume is less than expected for the quarter following drupa trade fair and decreased by 10 percent compared with the same quarter in the previous financial year. Based on orders generated at drupa, Heidelberg had expected a stronger increase in sales in comparison to the first quarter of the current financial year, but recognises significant reluctance to invest in all regions because of the actual economic situation.
WASHINGTON, DC—The U.S. Postal Service registered a net loss of $1.1 billion for the third quarter, its financials reflecting reduced mail volume and increasing transportation costs. Operating revenue dropped $437 million to $17.9 billion for the quarter compared to the same period last year. Volume fell to 48.5 billion pieces, a 5.5 percent decline.
HEIDELBERG, GERMANY—08/05/2008—In the first quarter of financial year 2008/2009, Heidelberger Druckmaschinen AG (Heidelberg) recorded a significant improvement in incoming orders over the previous year thanks to the industry trade show drupa. In the period under review, the Heidelberg Group increased its incoming orders by around 23 percent over the same quarter the previous year to 1.151 billion Euro (previous year: 934 million Euro). As already announced on July 10, 2008, sales and earnings were significantly down on the equivalent figures for the previous year due to difficult market conditions and customers’ reluctance to invest in the run-up to drupa. Sales by the Heidelberg Group
HAMILTON, BERMUDA—Online printer VistaPrint Ltd released its financial results for the third quarter of its 2008 fiscal year. The company posted quarterly revenue of $105.8 million, an increase of 53 percent when compared to sales of $69.3 million in the same quarter of fiscal year 2007.
