CJK Group, Inc., announced today that it has completed an agreement with Quad/Graphics, Inc. to acquire the assets associated with its Versailles, Kentucky, book manufacturing facility. The 1,000,000 sq. ft. facility specializes in the production of softcover and hardcover books as well as a variety of other publication types, featuring state-of-the art prepress technology, a fleet of inkjet and web offset presses, all paired with robust bindery and finishing capabilities, distribution, and mailing services. CJK Group will acquire the equipment and assume the customer contracts at the facility. The new entity will operate under the name Sheridan Kentucky and will align under the Sheridan division of the CJK Group. This is an exciting acquisition for CJK Group―one which significantly expands its capacities and capabilities. The facility serves many high profile publishing houses in the areas of educational textbooks, trade books, children’s books, and scientific/technical books.
Recent Actions: *Quad completed the sale of its Versailles, Ky., book manufacturing plant, to CJK Group, Inc., which serves book, magazine, catalog, and journal publishers. This initiative was the first step in the previously announced strategic decision to divest the Company’s book business to optimize its product portfolio. Quad expects to use the proceeds from the sale to reduce debt. *The Company obtained an amendment to its existing April 28, 2014, senior secured credit facility that widens the leverage ratio by an estimated 0.75x to 1.0x turn through the third quarter of 2021. As a part of this agreement, Quad maintains the ability to complete certain acquisitions during the relief period and has agreed to reduce the revolver capacity, which was previously expanded to support a subsequently terminated acquisition, from $800 million to $500 million. The agreement’s maturity remains January 2024, and Quad’s next nearest debt maturity is the 7% senior unsecured notes due May 2022. *Quad recently strengthened its leadership team at its integrated marketing agency, Periscope, with the addition of new President, Cari Bucci-Hulings. Bucci-Hulings is an industry expert who has driven highly successful product development and business growth platforms, and most recently served as President of MARC USA, one of the largest independent agencies in the country. *The Company also continues to scale Accelerated Insights, its proprietary virtual testing platform, to help clients in multiple industry verticals predict which combination of format, offer, message and imagery will be most effective in print. The unparalleled testing methodology drives improved response at a fraction of the time and cost of traditional testing. Quad recently brought aboard senior-level data analytics and business insights talent to expand the solution beyond direct mail and catalogs to packaging and other retail uses.
R.R. Donnelley & Sons Company introduced an integrated, comprehensive solution in response to COVID-19 for universities and colleges that ensures a safe, in-person return to school for students, faculty, and staff. To ease concerns and contribute to the health and safety of both students and staff, RRD has mobilized its expert resources to offer institutions of higher education a custom-built care package of solutions composed of: *Touchless communications – connecting digital interactions (e.g., payments, registrations, and ticketing) with labels and/or physical signage via Near-Field Communication (NFC) and/or QR-Code (QRC) technologies to accommodate demand for contactless engagement *Custom program support – from integrated email and direct mail campaigns to multichannel billing and payment systems *Signage and wayfinding – production and distribution of high-quality signage and customized graphics for all campus facilities and spaces *Wellness and safety materials – industry-standard safety materials (e.g., face shields, thermastrips, and customized experience kits) for students, visitors, and staff.
Sun Chemical and its parent company, DIC Corporation, have completed the purchase of 100 percent of the shares of Sensient Imaging Technologies and certain other assets related to the production of inks. The strategic investment in Sensient Imaging Technologies, a supplier of digital inks, will allow Sun Chemical and DIC to expand its inkjet ink capabilities and expertise using complementary technologies that will further strengthen the highest standards of services and solutions to its customers and distributor partners. The acquisition also underscores Sun Chemical’s ongoing commitment to sustainability by expanding its offering of inkjet inks for textile and dye sublimation printing – technologies known for their improved sustainability profile. Inkjet is a strategic segment for Sun Chemical and DIC, and the investment in Sensient Imaging Technologies demonstrates Sun Chemical and DIC’s commitment in the digital segment.
Infused with new capital from an unconventional parent company and energized by an expanding client base, Minneapolis-based Periscope is fortifying its executive team in pursuit of double-digit growth. The integrated marketing agency today announced that Cari Bucci-Hulings will join as president, effective July 6, in addition to other recent high-profile hires. Bucci-Hulings most recently served as president of MARC USA, one of the largest independent agencies in the country. In the role, Bucci-Hulings will be responsible for accelerating Periscope’s mission to do things people love and growing the business into new offerings and markets. She will report to Eric Ashworth, vice president of Agency Solutions for Quad, the creative engineering company that acquired Periscope in 2019.
High-graphic, efficient digital inkjet corrugated printing on EFI™ Nozomi C18000 ultra-high-speed single-pass inkjet printers continues to reach new benchmarks for packaging providers, including the achievement of another important certification addressing key recyclability needs. Electronics For Imaging, Inc. has received an additional validation from the Western Michigan University (WMU) Recycling, Paper and Coating Pilot Plant – a leading certification organization for corrugated recycling – that further verifies the recycling and repulpability of boards printed with white EFI Nozomi UV LED inks. The WMU Pilot Plant provided an OCC (old corrugated containers) certification to EFI Nozomi white inks, extending the solid, research-driven evidence that Nozomi inkjet-printed corrugated boards can safely, efficiently and effectively enter recycling streams. This new certification follows the WMU Pilot Plant’s initial OCC certification provided for the EFI Nozomi C18000 printer’s CMYK four-color process ink set.
R.R. Donnelley & Sons Company introduced The_Loft@RRD, a new innovation platform that connects companies with people, technologies and strategies to accelerate their digital transformation and achieve innovation at scale. Investment in transformational technologies is growing at a 17.5% compound annual growth rate and is expected to reach $7.4 trillion between 2020 and 2023, according to IDC. Yet this investment does not always translate into strategic improvements. In 2018, Gartner found that while 66% of CIOs believed they were transforming their businesses, only 10% actually were doing so, based on their descriptions of the digital initiatives in place. To close this gap and help enterprises execute on their goals, The_Loft @RRD is an “Innovation-as-a-Service” platform physically located in RRD’s Chennai center.
TC Transcontinental is proud to be named once again as one of Canada’s 50 best corporate citizens, placed in 10th position in the renowned Corporate Knights’ 2020 Best 50 Ranking. According to Corporate Knights, TC Transcontinental ranks among the Top 10, overall thanks namely to its high clean revenue score, strong gender diversity at the board and executive levels, its solid safety record, as well as its strong energy and water productivity. “We are very proud to be in Corporate Knights’ prestigious Top Ten ranking for the second year in a row” said François Olivier, President and Chief Executive Officer of TC Transcontinental. “This announcement comes at a time where the pandemic that hits our world reminds us more than ever, of the importance for all stakeholders across the value chain to act together to carry out responsible business strategies. Our Corporation continues to be deeply committed in demonstrating how our business practices can have a positive economic, social and environmental impact on both people and planet for generations to come."
Worzalla has announced the completion of its modernization and expansion plan. In October 2019, Worzalla had declared it would be investing $12.5 million in new machinery and capital improvements to the company’s headquarters in Stevens Point, Wisconsin. “In Worzalla’s long history, we have always adapted and evolved to be leaders in our industry and deliver for our customers,” said Jim Fetherston, President and CEO at Worzalla. “We’re proud to celebrate this milestone and the completion of the modernization and expansion plan as we look ahead to the next 125 years.” Worzalla honored the occasion with a small virtual ribbon cutting ceremony featuring partners and customers from across the book printing industry.
Printing and packaging businesses seeking growth by offering pick-and-pack fulfillment have an important new, automated offering from Electronics For Imaging, Inc. Newly launched EFI™ MarketDirect Fulfillment software is designed for easy implementation. The new inventory management product is part of the MarketDirect suite of web-to-print, eCommerce and cross media solutions. Equipped with intuitive and flexible administration tools, the new fulfillment offering creates a seamless order-to-fulfillment workflow that businesses can use to expand service offerings, create efficiency in warehouse operations, and drive even greater customer loyalty. The new software offering delivers out-of-the-box functionality for existing MarketDirect StoreFront web-to-print/eCommerce users, with a structure designed to reduce the time and complexities needed to start and manage print fulfillment operations. MarketDirect Fulfillment also leverages the latest in web eCommerce technology to provide a brilliantly simple and powerful administrative dashboard to manage both clients and orders.