ST. PAUL, MN—After a review of its cost structure in light of a weak U.S. economy, check printer Deluxe Corp. has decided to close manufacturing facilities in Greensboro, NC; North Wales, PA; and Thorofare, NJ. The company has also identified more opportunities to streamline portions of its business unit support and corporate shared services.
ST. PAUL, MN—After a review of its cost structure in light of a weak U.S. economy, check printer Deluxe Corp. has decided to close manufacturing facilities in Greensboro, NC; North Wales, PA; and Thorofare, NJ. The company has also identified more opportunities to streamline portions of its business unit support and corporate shared services. In all, about 570 people will be let go. The North Wales and Thorofare closures should be completed in the first quarter of 2009, while the Greensboro facility will be shuttered by the end of next year. The streamlining cuts will be made before the end of the third quarter
ST. PAUL, MN—Deluxe Corp. has come to terms on a deal to acquire Hostopia.com, a Web services provider for small- and medium-sized businesses, for about $121.7 million in cash. Deluxe feels the addition of Hostopia will help attract new customers and provide additional services. The deal is expected to close in the third quarter.
The 2012 Printing Impressions 400 list of the largest printing companies in the United States and Canada as ranked by annual sales.
WIDENING OF the wage disparity between the ranks of top executives and workers has been getting some play in this presidential election season. So how does the take-home pay of the top printers stack up? Printing Impressions’ 18th annual executive compensation report highlights the earnings of principal officers at the largest publicly held printing companies. There was a significant shake-up of the list this year. Several top executives—and companies—dropped from the ranks as a result of the major merger/acquisition activity in 2007. Other companies had personnel changes at the top, and a few repeat executives saw their compensation totals dramatically impacted by the lack
EVER WONDER about the heft of the paychecks top executives in the printing industry haul in? This is your chance to see what the top money earners are taking to the bank. Printing Impressions’ 17th annual executive compensation report highlights the industry’s top earners at the largest publicly held printing companies. Mark Angelson, CEO of Chicago-based RR Donnelley, again ranks first in annual salary for this list, earning more than $5 million. This is the fourth consecutive year that a RR Donnelley exec has topped our list. The rankings indicate previous fiscal year salaries, most recent fiscal year wages, and the percentage change in
ST. PAUL, MN—Check printing specialist Deluxe Corp. has purchased the assets of The Johnson Group, a Rockford, IL-based company that provides Web-to-print, offset and variable data digital printing services, for $16.5 million. The Johnson Group is expected to generate $22 million in revenues in 2006. Dennis Johnson, chairman and CEO of The Johnson Group, is retiring with the completion of the transaction. The printer, which employs 130, will continue to operate under its current name in Rockford. It also has operations in East Dubuque, IL, and New Albany, IN. “The Johnson Group’s custom, full-color and digital printing expertise and its emerging Web-to-print technology strategically fits our
ST. PAUL, MN—Check printing specialist Deluxe Corp. has purchased the assets of The Johnson Group, a Rockford, IL-based company that provides Web-to-print, offset and variable data digital printing services, for $16.5 million. The Johnson Group is expected to generate $22 million in revenues in 2006. Dennis Johnson, chairman and CEO of The Johnson Group, is retiring with the completion of the transaction. The printer, which employs 130, will continue to operate under its current name in Rockford. It also has operations in East Dubuque, IL, and New Albany, IN. Deluxe Corp. does not expect the acquisition to have a significant impact on diluted earnings per share
IN THE May 2003 edition of this magazine I predicted some mega deals would begin to occur. I also predicted that the number of printing companies would continue to shrink and that we would have less than 30,000 by 2006.
A reader, who will remain nameless, e-mailed me a few days ago and asked if there was going to be a follow-up column reporting on how well I did with my prophesies.
Hey! I am not a modern day Nostradamus. I’m just a mere mortal human being with, maybe, a tad more talent than the rest of you.
I am gonna stop for a minute and
Quad Workers Nailed in Scam HARTFORD, WI—Two former employees at Quad/Graphics’ magazine printing plant here were arrested and charged in connection with an international insider trading scheme that generated $6.7 million, the Milwaukee Journal Sentinel reported. Former temporary employee Nickolaus Shuster and recently terminated Quad worker Juan Renteria were charged with being sources of illegal insider information, the newspaper reported. Supplying investor tips from an investment feature that appears in BusinessWeek in advance of the street date allegedly netted more than $345,000 in profits. Aurand, Vista Buying Outlook NEENAH, WI—Led by former Banta CEO Calvin Aurand, Vista Group Holdings is acquiring Outlook Group for $13.50 per
