Cenveo Inc. plans to close its local printing facility effective April 25, according to the Associated Press. The plant is said to employ about 200 people and was part of Cadmus Communications acquisition Cenveo completed in December, 2006.
An employee at a Cenveo envelope plant here was found dead February 10, apparently crushed from a machine accident, according to the Chicago Sun-Times.
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.
NEW CANAAN, CT—Just when you thought it wasn’t safe to come out in the printing investment world, along comes a pair of industry veterans with a bankroll and a plan.
STAMFORD, CT—Due to weakness in the company's share price, the board of directors for Cenveo Inc. has authorized a $15 million share repurchase program. The 12-month plan includes open-market and privately negotiated transactions. The amount of shares repurchased, if any, are contingent on a number of factors, including price and market conditions.
NEW CANAAN, CT—October 10, 2008—Roy Grossman and Charles (Chip) Stine announced today that they have formed MSP, LLC as a vehicle for making investments in printing-related companies with revenues in excess of $5 million. Target segments include digital printing companies with sophisticated VDP capabilities; specialty direct mail, packaging & label companies; and large format printers. MSP, LLC has engaged Paul V. Reilly of Compass Capital Partners of CO, LLC, to assist in evaluating investment opportunities and to raise additional investment funds.
Winners Take Podium at Georgia SkillsUSA Competition ATLANTA—The Printing and Imaging Association of Georgia (PIAG) announced the winners of the Georgia SkillsUSA graphic communications competition, sponsored by Heidelberg and held at its Print Media Demonstration Center in Kennesaw, GA. Through a grant from the PIAG Educational Foundation, the first place contestant was awarded $4,500 in scholarships and had the opportunity to travel to Kansas City to compete in the National SkillsUSA competition. Winning awards were: first place, Alyssa Ailion, a senior at Walton High School in Marietta, GA, who also went on to place second in the National SkillsUSA competition; second place, Victoria Gunnin,
Skilled Labor Controversy Dear Editor, I read with great interest your two-part article by Cheryl Adams, “Skilled Labor: Help Wanted” [March] and “Cure for Workforce Woes” [April]. My interest peaked when I read that parents are part of the reason that young adults do not go into the printing industry. Boy, is that the truth. Only the reason is that these kids have seen their parents laid off, downsized, globalized and right-sized out of the industry. So why would a young adult go into an industry that has abandoned their parents that helped build this industry? You bet, “It isn’t your daddy’s print shop
Shareholders OK Vertis Plan BALTIMORE—Vertis shareholders approved the company’s prepackaged plan of organization. Once the plan becomes effective, Vertis can proceed with its merger with American Color Graphics (ACG). The restructuring will allow Vertis to reduce debt and interest cost, refocus investments and complete both the reorganization and merger in a couple of months, according to Mike DuBose, chairman and CEO of Vertis. Direct Group Makes Investment SWEDESBORO, NJ—Direct marketing specialist Direct Group has purchased 32 Océ VarioStream 8750 systems to upgrade capacity; increase uptime, speed and operational efficiencies; and take advantage of some of the industry’s latest digital technology, including flexible color
THE YEAR was 1958. A 14-year-old named Bobby Fischer wins the U.S. Chess Championship. Willie O’Ree is the first African-American to play in the National Hockey League. The U.S. Air Force loses a hydrogen bomb off the coast of Savannah, GA, and it’s never found. Poet Ezra Pound is ordered to be released from an insane asylum, and “that book by Nabokov” (“Lolita”) is published in the United States. And, in Philadelphia, a 34-year-old man named Irvin Borowsky published the first issue of Printing Impressions. The industry, this magazine—indeed, our nation and world—have undergone dramatic transformations over the last 50 years. Our publication, just
