Cenveo

Cenveo Plans Cost Savings ENGLEWOOD, CO—Cenveo announced a comprehensive plan to reduce operating expenses and streamline management functions, a plan that includes the elimination of about 125 jobs—mostly managerial positions. Through these moves, the company expects to save $9 million in 2005 and generate annual savings of $20 million. After having his May 6 formal proposal to take over Cenveo rejected, veteran print executive Robert Burton of Burton Capital Management informed the troubled printer that he will seek a special meeting of shareholders with the intention of removing the existing board members and replacing them with a slate that will "affirmatively act in the best

GREENWICH, CT—Robert Burton has never shied away from a business challenge, or an opportunity. In his bid to take over Cenveo, he will get both. Burton informed Printing Impressions magazine on April 7 that he had filed a Schedule 13D with the Securities and Exchange Commission (SEC) to report that his Burton Capital Management (BCM) owned approximately 10 percent (9.6) of Cenveo's outstanding shares. Less than a week later, BCM filed an amended 13D to reflect it had increased ownership to 10.6 percent. Burton also seeks to become the next chairman and CEO of Cenveo, with BCM having the right to choose two board members.

Burton: A White Knight Or a Corporate Raider? If television network executives were planning to cast a reality show for the graphic arts industry, Bob Burton would surely be on my short list. He's quickly becoming our industry's version of the likes of T. Boone Pickens and Carl Icahn who, during the 1980s, dominated the news with their attempts to rest control of underperforming companies and oust existing management they considered inept. On the heels of the failed proxy fight to take over Creo Inc. that Burton launched last year, the former chief executive of World Color and Moore Corp. is now exerting his financial

The top companies in the commercial printing industry must have chosen their moniker for a good reason. To those not familiar with the giants of the graphic arts world, the names RR Donnelley, Quebecor World, Vertis and Banta could just as easily be leaders in any field. The fact is, they don't exactly scream "printing." Today, printers do so much more than just put ink on paper, that having "print" in a company's name doesn't tell the whole story. In fact, it could pigeon-hole a company from getting work not traditionally thought of as done by "printers." The most recent big-name printing company

GREENWICH, CT--Robert Burton has informed Printing Impressions magazine that he has filed a Schedule 13D with the Securities and Exchange Commission (SEC) to report that his Burton Capital Management (BCM) now owns approximately 10 percent (9.6) of Cenveo's outstanding shares. Burton also seeks to become the next chairman and CEO of Cenveo, with BCM having the right to choose two board members. Should the company not negotiate terms with Burton, he could wage a proxy battle. The move comes roughly two months after Burton yielded to Eastman Kodak in his bid to take control of Creo. In a letter addressed to Cenveo shareholders dated April 7,

Banta to Sell Healthcare Group MENASHA, WI—Banta Corp. has reached an agreement to sell the assets of single-use healthcare products subsidiary Banta Healthcare Group to an affiliate of Fidelity Capital Investors for $67 million in cash. The deal is expected to close by the end of the first quarter. Fidelity is a private equity investment division of Boston-based Fidelity Strategic Investments. In a separate deal related to the divestiture, Banta sold its warehouse in Rialto, CA, to a California real estate investment company for $7 million. Phoenix Color Closes Division CHICAGO—Phoenix Color has authorized the closure of its Book Technology Park division and the sale of its

ENGLEWOOD, CO—Paul Reilly, chairman, president and CEO of Cenveo Inc., has resigned from the company, but will remain as president and CEO until a successor is chosen. His post as chairman has been filled by Susan Rheney on an interim basis. Rheney was a principal at the Sterling Group, the investment firm that formed Mail-Well. She served on the board from the company's formation until 1997, and rejoined the board in 2003. No reason was given for the pending departure of Reilly, who joined the former Mail-Well Inc. 10 years ago. He did not return phone calls seeking comment. "It has been

DETROIT—To increase the efficiency of its premedia operation, Brophy is implementing the Kodak Polychrome Graphics Matchprint Virtual Proofing System. The SWOP-certified monitor proofing solution uses customized CRT displays and proprietary color management technology. (www.brophy.com/www.kpgraphics.com) ENGLEWOOD, CO—Cenveo is launching eCENergy, a Web portal providing access to a suite of online solutions designed to automate and streamline transactions with customers. Users can securely log in to a custom branded site, then choose from a menu of applications that currently includes an online print ordering and fulfillment system (eCatalog), soft and remote proofing, and digital asset management. (www.cenveo.com) NORWALK, CT—A steady stream of

california RIVERSIDE—Daily newspaper The Press-Enterprise has installed a Goss Magnapak packaging system with 42 stations and dual delivery capability. The system also utilizes an integrated MultiDisc winder/unwinder storage system from Ferag and Packman stackers from Quipp. Omnizone supervisory and downstream software bundle controls were supplied with the Magnapak system. colorado GRAND JUNCTION—Colorado Printing has been using EFI PrinterSite Internal integrated with EFI Hagen OA to realize increased efficiency and reduced operating costs. PrinterSite Internal provides field sales personnel and customer service reps with secure, direct access to submit quote requests and obtain job status data. florida Panama City—Freedom Communications' Florida division has ordered

Predictions for 2005 And Other Ramblings The September 11th tragedy and the growing insurgency following the U.S. invasion of Iraq have reinforced, in no uncertain terms, how difficult it is to predict the future. And while we as a collective industry cannot control world events or the state of our overall economy, I do have a few predictions about what will be in store for us in the new year. Obviously, don't expect pricing pressure to wane in 2005. There still will be further industry consolidation, with those weak, underperforming shops driving down prices for everyone as they grapple to keep work—albeit unprofitable—coming