DES PLAINES, IL—Schawk Inc., a provider of brand development and deployment services, has entered into an agreement to acquire substantially all of the assets of Lipson Associates and Laga Inc., which does business as Brandimage-Desgrippes & Laga or Brandimage.
Brandimage is a leading independent branding and design network specializing in providing services that seek to engage and enhance the brand experience, including brand positioning and strategy, product development and structural design, package design and environmental design.
DES PLAINES, IL—Schawk Inc., a provider of brand development and deployment services, announced that the company has been notified by the Securities and Exchange Commission (SEC) that it had completed its investigation of certain accounting matters related to printer's restatement of its financial results for 2005 and 2006, and the first three quarters of 2007.
The Securities and Exchange Commission (SEC) has completed its investigation of Schawk Inc. President and Chief Executive Officer David A. Schawk commented, "We were pleased to learn that the staff of the SEC does not intend to recommend any enforcement action against Schawk. We fully cooperated with the SEC during the course of the investigation and are gratified that this matter has been concluded."
The agreement with American Yuncheng Gravure Cylinder is expected to allow Schawk to expand its current gravure cylinder engraving capabilities. The company’s net sales in the first quarter of 2011 were $107.2 million, a 4 percent decline vs. $111.7 million in the same period of 2010
Schawk’s net income for the full year of 2010 was $32.4 million, compared to $19.5 million for the comparable prior-year period. Its consolidated net sales in 2010 were $460.6 million vs. $452.4 million in the same period of 2009, an increase of approximately $8.2 million, or 1.8 percent.
Commercial printer company and personnel news from Printing Impressions’ December 2010 edition.
In his new role as president, group managing director, Komasinski has profit and loss responsibility for the business unit and is charged with managing all facets of the business including strategy, new business development, the formation of new services and managing the existing retail marketing client base.
Net income in the second quarter of 2010 was $15.8 million, vs. $4.8 millionin the second quarter of 2009. Net income for the first six months of 2010 was $18.3 million, compared to $2.5 million.
Schawk has moved its Cincinnati executional business operations into a uniquely designed space shared by its strategic design company, Anthem Worldwide.
