Commercial Printing Industry News Briefs from Printing Impressions’ September 2013 edition, including RR Donnelley, Cheney Pulp and Paper, Bang Printing, Safeguard, Edwards Brothers Malloy, Asbury Park Press, Think Patented and Eastman Kodak.
BRAINERD, MN—Bang Printing has completed its acquisition of Hess Print Solutions of Brimfield, OH. Effective with the completion, the former D.B. Hess plant in Woodstock, IL, is being consolidated into the Ohio facility, a move that will eliminate about 130 positions in Illinois.
Hess Print Solutions and its subsidiaries (HPS), a print provider of catalogs, books, publications and educational products, announced that HPS has entered into an agreement to sell substantially all of its assets to an affiliate of Bang Printing.
BRIMFIELD, OH—Hess Print Solutions and its subsidiaries (HPS), a print provider of catalogs, books, publications and educational products, announced that HPS has entered into an agreement to sell substantially all of its assets to an affiliate of Bang Printing for about $19.2 million, Bloomberg Businessweek reported.
TPO Hess Holdings filed for bankruptcy protection from creditors, citing a slump in the industry and the global economic downturn. The Kent, OH-based company, formerly known as Hess Print Solutions, listed assets of as much as $50,000 and debt of as much as $100 million in a court filing in Delaware.
After a turnaround effort, the company “continued to be adversely affected by overall macroeconomic challenges, industry wide overcapacity and increased pricing pressure” from competitors, according to court papers.
The company plans a sale to Bang Printing, Brainerd, MN, subject to an auction, for about $19.2 million, court papers show.
Hess Print Solutions and its subsidiaries (HPS) has entered into an agreement to sell substantially all of its assets to an affiliate of Bang Printing. This sale will allow HPS and Bang Printing to combine their existing capabilities and provide customers with a more diversified suite of products and services.
Commercial printing industry news briefs, including items on Precision Technology, Toppan, Bang Printing, Ussery, Ripon, IWCO Direct, HBP and RR Donnelley.
Chris Kurtzman, Bang’s President and CEO stated, “This new acquisition will add greater efficiencies, production synergies and huge economies of scale to our West Coast operations.” With the addition of Media Litho, the printer's West Coast operations will offer offset and digital printing with a complete array of binding options.
IF THIS magazine chose to hand out an award for the biggest newsmaker of the year, the 2008 honor would go to Quebecor World (QW), hands down. One might contend that the attention, while merited, is not the type of exposure a company would want: Financing issues, trying to sell an unprofitable venture and muddling through with bankruptcy in two countries. But Quebecor World is a printer for our economic times, the No. 2 in North America at a time when market leaders (Circuit City, AIG, Lehman Bros.) have come crashing down.
BRAINERD, MN—Book manufacturer Bang Printing has obtained Delta Printing Solutions of Valencia, CA. Terms of the deal were not disclosed. The combined company has 350 employees and will produce more than 15,000 titles annually.
