Art Vargas Joins Allen Press as Account Manager

LSC Communications, Inc. announced that the Company has entered into a stock and asset purchase agreement with an affiliate of Atlas Holdings LLC with the support of certain of LSC’s secured creditors. Under the terms of the Purchase Agreement, the Purchaser will acquire substantially all of the Company’s assets through a combination of cash and a credit bid of obligations under the Company’s secured term loan facility and senior secured notes at the direction of the Creditor Group. The Purchaser will also assume certain liabilities of the Company, including, subject to certain prerequisite conditions being satisfied, obligations related to the Company’s qualified pension plan.

Heidelberger Druckmaschinen AG (Heidelberg) made significant progress with the Group’s targeted digital transformation in financial year 2017/2018 (April 1, 2017 to March 31, 2018). By the beginning of June, several customers had already opted for the new subscription model that offers Heidelberg products and services as part of a usage-based all-in contract running over several years. The total of over 30 contracts being targeted for the new financial year 2018/2019 looks set to generate business worth some €150 million over the standard five-year term of these models. However, as the number of contracts concluded is just starting to pick up, this will only be reflected in the company’s figures to any significant extent from financial year 2019/2020 onward, when it will also help stabilize Group sales. In addition, the series production of digital presses for packaging and label printing (Primefire and Labelfire), which also started in financial year 2017/2018, will have an increasingly positive impact on sales. Click Read More below for additional information.

Konica Business Solutions U.S.A., Inc. announced leadership changes to support the company’s internal and customer-focused digital transformation strategy. The changes are designed to augment its Digital Experience-as-a-Service (DX-as-a-Service) and Internet of Things (IoT) strategy to add continuous value to its clients and dealer partners. Patrick Banno, currently the Head of the IoT Business Center in the U.S., will lead the North American business as President and CEO. He is replacing Rick Taylor, who will progress to serve in an independent advisory role to ensure a seamless continuation of the company’s strategies. Sam Errigo, currently serving as Executive Vice President, Sales and Business Development, has been promoted to Chief Operating Officer. Sam will lead the company’s strategy for operational excellence while enhancing digital agility to support a dynamically changing business environment and expansion into new markets.