Cenveo, Inc. announced that it has reached an agreement with its major stakeholders to clear the path for approval of the Company's first amended plan of reorganization, which will enable the Company to emerge from Chapter 11 this summer. The Plan of Reorganization has the support of over 70% of the Senior Secured Noteholders, the holders of certain funds and accounts under management that collectively own or control a percentage of the Company's senior secured first-in, last-out notes, who also hold a percentage of the first lien notes, second lien notes, and senior unsecured notes, as well as the support of the Unsecured Creditors Committee whose members consist of trade creditors, the Pension Benefit Guaranty Corporation, certain unions, and the indenture trustee for the unsecured noteholders. A hearing before the United States Bankruptcy Court for the Southern District of New York is scheduled for June 7, 2018 for the Company to seek approval of its first amended disclosure statement and to establish the voting procedures for the Plan of Reorganization. The terms of the Plan of Reorganization will enable the Company to exit Chapter 11 with a highly deleveraged balance sheet, which will allow the Company to focus on its operations and grow its businesses. Click Read More below for additional information.
Electronics For Imaging, Inc. (Nasdaq:EFII) announced that Aahs Signs (www.aahssigns.com) in greater Los Angeles has purchased an EFI™ VUTEk® LX3 Pro superwide-format printer with an EFI Fiery® proServer Premium digital front end (DFE). The company plans to leverage the versatility, throughput and speed of the hybrid flatbed/roll-to-roll printing device to expand its already thriving online novelty gift-production business and to meet growing demand for specialty large-format printing in the décor market.
“About three years ago we started creating and selling products online, through Amazon and eBay. The business is doing well, but with our previous capacity, we couldn’t keep up with demand. With the new VUTEk, I’ll be able to fulfill the growing demand for our products and grow that business,” said Gurmeet Sawhney, president and CEO of Aahs Signs.
A look at its Amazon store reveals an extensive catalog of life-size cutouts of celebrities, desk plates, plaques and an assortment of other novelties. It is a business that has few competitors and the capabilities of the VUTEk are key to Aahs’s future success.
“That side of the business is growing much faster than the traditional signs and point-of-purchase graphics, and it’s where the future lies for us,” according to Gurmeet. “We’re adding new products all the time. The VUTEk LX3 Pro positions us to take advantage of this opportunity because we can go from concept to production in days.”
Throughput, versatility, speed: Aahs’s new VUTEk is the whole package The speed, versatility and throughput of the new VUTEk printer gives Aahs the production muscle it needs to exploit this opportunity. With its roll-to-roll and flatbed versatility, LED curing technology, and 126-inch width, the superwideformat printer is a powerhouse production device. It prints on a host of substrates up to 2 inches thick, reaches speeds of 3,400 feet per hour, and prints in eight colors plus white.
“I looked at other devices. But after doing a thorough analysis of throughput, quality and speed, we decided on the VUTEk. It was the only printer that I felt could deliver. It was the whole package,” said Sawhney.
more at: http://ir.efi.com/static-files/95075f0c-869d-44e9-9144-56283deb1d77