Worzalla, an employee-owned printing company specializing in high-quality children’s books, cookbooks, and hard-cover best sellers, is working with the Portage County Library to support their summer reading programs with the goal of inspiring the community to reach their summer reading goals. Worzalla has donated 500 children's books for the Library to use as summer reading rewards and is also donating 500 bags that the Library will use for their Lit Loot program. “We love to get children and teens reading, learning, and participating at the library each summer, and then reward their hard work with prize books, but incentives like these are quite costly. We are thrilled that Worzalla has offered to help us cover some of these expenses so that we can expand our programming and reach even more community members,” said Nicole Ozanich, Youth Services Librarian at the Portage County Public Library.
HP Inc. announced its commitment to PRINTING United 2022 as a title sponsor of the event, along with its plans to build its own elaborate show hall encompassing 21,000 sq. ft. at the Expo — over three times the size of any previous HP booth space. PRINTING United Expo 2022 takes place October 19-21 in Las Vegas and will be the most comprehensive printing event in the world. The event spotlights companies bringing the latest industry solutions to market spanning the industry across all segments. HP joins over 500 exhibitors currently signed up to showcase its latest products on the expansive show floor.
The Company’s revenues for the first quarter ended May 31, 2022 were $107.7 million compared to $96.9 million for the same quarter last year, an increase of $10.8 million, or 11.1%. The increase includes revenue contribution of approximately $1.9 million from AmeriPrint, an acquisition completed on May 31, 2021. Gross profit margin was $34.0 million, or 31.6%, as compared to $29.2 million, or 30.1%, for the same quarter last year. Net earnings for the quarter were $11.6 million, or $0.45 per diluted share, as compared to $7.3 million, or $0.28 per diluted share, for the same quarter last year.
April 2022 shipments came in at $6.67 billion, down from March’s $7.03 billion. The general trend in all but two of the last seven years has been for April shipments to decline from March’s. That’s not really good news but suggests we’re at least getting back to normal. April 2022 shipments came in at $6.67 billion, down from March’s $7.03 billion. As we remarked last month, it looks like 2022 is closely mirroring 2021—which isn’t necessarily a bad thing. Year to date, we are only slightly off 2021—January to April shipments for 2022 are at $26.16 billion, a bit under 2021’s $26.45 billion.
The Sustainable Green Printing Partnership (SGP), the leading authority in sustainable printing certifications, announced today that Ultraflex Systems Inc. has become part of the SGP Community as a gold SGP Patron. Ultraflex’s action to become involved in SGP helps to ensure the long-term endurance of sustainable product offerings. “We believe sustainability is integral to our industry, present and future,” said Kylie Schleicher, director of product development & product manager, Ultraflex. “As a leader in the industry, we are responsible for taking the required measures to contribute to the sustainable development of digital print materials. Our company’s research and development are the foundation for superior products and performance. We are excited to grow within the community and market new solutions that limit the use of natural resources, reduce waste, and promote the reuse of materials.”
TC Transcontinental is proud to announce the release of its new 2025 Corporate Social Responsibility Plan, Building our Future. Recognized earlier this year as the 16th most sustainable corporation in the world in the renowned Corporate Knights’ Global 100 Sustainable Corporations ranking, TC Transcontinental strives to build a future that is green, inclusive, innovative, sustainable, united, and responsible. The new plan focuses on five major themes that will guide the Corporation’s actions over the next four years: greener growth, an inclusive and safe environment, innovative and sustainable products, community involvement, and responsible governance and business practices. “As a family business, we are building for the long term,” said Isabelle Marcoux, Chair of the Board. “Corporate Social Responsibility (CSR) has been engrained in TC Transcontinental's DNA since its beginning and is an integral part of our growth strategy, particularly in terms of developing sustainable products. It is underpinned by rigorous governance, as well as our values and culture of diversity and inclusion. As such, we are meeting our customers’ needs and our investors’ long-term value creation objectives while also contributing to the welfare of our communities.”
Syracuse Label & Surround Printing, Macaran Printed Products and W.N. Van Alstine, have announced that their respective boards of directors have approved a merger agreement. According to the companies, the new organization will provide enhanced development and manufacturing capabilities, incorporating state-of-the-art label technologies along with improved economies of scale. The new business will be led by industry veterans Nick Van Alstine (Macaran / Van Alstine) and Kathy Alaimo (Syracuse) operating as co-CEOs, with Tom Sargent as president. The merger brings together three strong, industry leading label and packaging companies who share common cultures, common cause and common goals. Both companies are 100% employee-owned each with rich corporate legacies.
The Great Lakes Graphics Association (GLGA) has announced that Julie Lopezlena has joined the association as their new Sales and Member Engagement Director for Illinois and Indiana. Ms. Lopezlena, a native of Minnesota, grew up in her family’s printing business. Before joining GLGA, she served as the director of sales for Navitor, Inc., overseeing the management of sales operations for multiple products and print technology. Her deep background also includes experience in international business development both with Taylor Corporation in Mexico City and with Euromonitor International in Chicago. In GLGA’s newly created Sales and Member Engagement Director position, Ms. Lopezlena is responsible for identifying and cultivating new strategic relationships toward the development of new members for the association. She also will assist current members in strategic use of GLGA’s services and benefits to maximize their return on investment.
Two Sides, the print and paper advocacy group, is excited to announce its newest member, CFH Docmail Ltd, the multi-site, multi-channel innovative communications company. Starting as a print company supplying lithographic printed forms, CFH Docmail Ltd have transformed into a multi-site, multi-channel innovative communications company. For more than 40 years, they have been helping customers achieve the results they need with innovative, impactful communications on every channel. CFH Docmail Ltd’s industry-leading multichannel communication solutions include hybrid mail, print & post, and online services. All delivered with a practical sensibility, focused on driving outcomes – and powerful results.
Revenues increased by $92.2 million, or 14.8%, from $623.3 million in the second quarter of 2021 to $715.5 million in the corresponding period of 2022. Operating earnings before depreciation and amortization decreased by $6.1 million, or 5.6%, from $108.9 million in the second quarter of 2021 to $102.8 million in the second quarter of 2022. Net earnings attributable to shareholders of the Corporation decreased by $7.3 million, from $35.6 million in the second quarter of 2021 to $28.3 million in the second quarter of 2022.
Electronics For Imaging, Inc. announced that it has acquired Inèdit Software S.L., a developer of raster image processors (RIPs) and related software for digital industrial textile printing. The acquisition extends EFI’s strategy to accelerate digital transformation in industrial print through investments that advance the company’s presence and capabilities in Packaging & Corrugated, Display Graphics, Textile, and Building Materials/Décor applications. Inèdit will be integrated into the Reggiani textile business. “Digital represents the biggest transformational opportunity we have ever seen in industrial printing,” said EFI CEO and Executive Chairman Jeff Jacobson. “We are committed to driving innovation and expanding our offerings through all economic cycles as we address our customers’ critical need to digitize and automate their workflows.”
In honor of World Environment Day, Xerox today announced a partnership with the Arbor Day Foundation to plant nearly 23,000 trees — one for each Xerox employee — contributing to the nonprofit’s global reforestation efforts while also educating employees on how they can make a meaningful difference for the environment. The partnership coincides with this year’s World Environment Day focus on the continuation of the UN Decade on Ecosystem Restoration, a global mission to revive billions of hectares, from forests to farmlands. “Partners like Xerox help us achieve the scale needed to drive meaningful impact through trees," said Dan Lambe, chief executive of the Arbor Day Foundation. “It’s going to take organizations of all types and sizes coming together to make a difference. We are grateful for their commitment.” The Arbor Day Foundation has worked to plant nearly 500 million trees over the past 50 years through efforts that improve forests and communities of greatest need worldwide.
In March 2022, all printing employment was up +0.6% from March. This time, it was production employment that was up (+1.6%) and non-production employment that was down (-0.9%). One gets the sense that the industry’s attempts at recruiting production staff are generally succeeding: in April 2022, all printing employment was up +1.6% from March, with non-production employment down -0.9%. This is the reverse of what we saw in March. Publishing employment had been improving slightly over last summer, took a turn for the worse in the fall, and started to plateau at the end of the year. It was up a modest +0.6% in March, and now up another +0.4%.
Bristol University Press, and its imprint Policy Press, have gone live on a new, integrated scholarly portal on the KGL PubFactory platform. Bristol University Press Digital now hosts its full collection of books and journals with global and social impact in a single site, searchable across all content types. A leading social science publisher committed to making a difference, Bristol University Press champions evidence-informed, bold thinking, from anywhere in the world that aims to address the global social challenges. In 2021, the publisher celebrated 25 years since Policy Press was established and 5 years since the creation of Bristol University Press. Via bristoluniversitypressdigital.com, the new platform provides access to over 1,400 books, 6,000 articles from 18 peer-reviewed journals, and eBook collections from across the social sciences that address global social challenges and support the UN Sustainable Development Goals, with exclusive access to the new, non-profit, Open Access Global Social Challenges Journal. As a rapidly expanding Press approximately 300 books and several new journals will be added each year.
The Sustainable Green Printing Partnership (SGP), the leading authority in sustainable printing certifications, announced that the Primex Plastics Corporation facility in Reedsburg, WI is the first supplier facility to become SGP certified. SGP has been certifying print facilities since 2008, but recently expanded the program to include supplier facilities. “Primex Reedsburg has been a dedicated supplier of printable plastics since inception in 1986 and a long-time supporter of SGP’s sustainability mission,” said Blake Pace, General Manager, Primex. “Having had a front row seat to view continuous improvement on the part of companies that participate in SGP, when the opportunity arose to seek certification ourselves under the expanded supplier certification, we jumped at the chance.”
Sun Chemical will increase prices across its entire portfolio of packaging, commercial sheetfed and screen inks, coatings, consumables and adhesives in North America, effective immediately or as contracts allow. The inflationary environment in North America has continued to impact the ink industry. Global geopolitical events have caused sustained pressure on logistics availability and have increased the costs to unprecedented levels. The constrained accessibility to labor in the market has driven significant wage inflation while contributing to inefficiencies at manufacturing facilities.
Back in February, Dan Marx had the pleasure of speaking with three commercial printing providers to see how they were experiencing, and what the were doing to mitigate the effect of, the ongoing paper shortage. That piece, “Printing Companies Share Their Experiences with Paper Shortages and What They're Doing in Response”, was featured in Printing Impressions. As the paper crisis is much more a moving target than a moment in time, he reached back out to one of the printers, Christina Esparza, VP of operations for InfoIMAGE, a transactional printer (locations in Coppell, Texas, and Brisbane, California), to see how that company’s experience and approach has changed over the last three months.
Sun Chemical and the DIC Corporation will increase prices across select parts of its color materials portfolio, effective July 1, 2022 or as contracts allow. The price increase affects all market segments. Without signs of relief, the cost increase for key raw materials and packaging components as well as the inflationary pressure on manufacturing operations persist. Energy and logistics costs remain at historically high levels, and the uncertainties due to the Russia-Ukraine crisis and COVID-19 related lockdowns in China, are negatively affecting global value and supply chains. The ongoing escalations make it necessary for the company to increase prices for several product lines of its pigments, dyes and preparations portfolio. The price increases are in addition to those previously announced, including energy and transportation surcharges.
Konica Minolta Business Solutions U.S.A., Inc. announced it has extended its partnership with the Plockmatic Group to launch the powerful and versatile SD-435/450 booklet maker. This brings a cost efficient solution for heavy production finishing to low and mid-sized Centralized Reprographic Departments (CRD) and commercial print environments. Plockmatic Group’s inline platform introduces architecture that enables new features for the first time in the low-to-mid volume market segments across Konica Minolta’s AccurioPress mono and color production machines. The inline versions of the SD-435/450 will be exclusively sold by Konica Minolta throughout 2022. The new system architecture enables customers to produce high-quality booklets including 8.5” x 11” landscape and has all the key processes needed to produce corner and edge staple, folding, spine forming and full bleed trimming, all combined in one single, easy-to-use system.
The Celebrations are the culmination of the annual GEA competition, which recognizes companies throughout Illinois, Indiana and Wisconsin for superb craftsmanship in the design, creation and production of outstanding printed projects they produce for their customers. More than 200 people gathered in Milwaukee, Wisconsin, and Addison, Illinois, on May 25 for two simultaneous awards ceremonies to celebrate another spectacular year of print in the three-state region. Best of Show, the competition’s highest honor, was awarded to JR Dimensional of Milwaukee, Wisconsin, for their entry in the Booklets (4 or more colors) category entitled Cramer-Krasselt Taycan Book and Sleeve FF. One judge said, “Not often a printed piece can be described as electrifying.” First Runner-Up was awarded to Schumann Printers of Fall River, Wisconsin, for Blue Ocean Traders Spring and Summer 2022 in the Product Catalogs (4 or more colors) category. From the Calendars category, LCP, Waukegan, Illinois, won Second Runner-Up accolades for their Lake County Press 2022 Calendar.
Landa Digital Printing™ and Quad announced that Quad is adding the Landa S10P Nanographic Printing® Press to its In-Store Solutions production lineup. The Landa S10P, equipped with a powerful digital front end, introduces a new standard in printing speed, format, efficiency and data-driven digital applications; expanding the digital capabilities for B1-format printing and offering unlimited variable print options at very fast speeds and at the highest quality available. The S10P supports Quad’s unique “through the line” offering for marketers – from strategy and creative through production, execution, and analytics for marketing that is more efficient and effective. Today, with people living, working and learning from anywhere, marketing that is delivered at the right amplitude for customer response and engagement is essential. Key to Quad’s multidimensional marketing approach is removing friction in the marketing process, clearing the way for deeper and better customer engagement across channels. One very effective retail marketing strategy is to utilize two strong application segments – in-store and personalized customer engagement – both of which mandate supreme print quality that only the Landa press can provide.
Escalating costs continue to be seen across a number of raw material categories with no sign of improvement – binders, additives, pigments, solvents and other materials continue to rise in cost. Inflation is now worsening across multiple spend categories and an already problematic supply chain climate continues to experience significant disruption. Jesper Bødtkjer, Vice President and General Manager – Flint Group Packaging Europe reflects, “The emphasis we place on supply reliability has a significant financial implication on our business. Throughout these unparalleled times, we have sought to take a phased, incremental approach to pricing adjustments. However, the expected softening of raw material prices has not occurred, costs continue to rise aggressively and therefore we are forced to raise prices.”
Sun Chemical has launched SunConnect, the latest complementary solution to SunColorBox, designed for the flexo corrugated printing market. SunConnect is an accurate and digital color communication tool that will enable converters to communicate color match request and quality control data on press directly from a smartphone, tablet, or desktop. It is an entry level digital color management solution giving converters the opportunity to upgrade in future to Sun Chemical’s SunColorBox – a unique set of tools and services that enables consistent and accurate digital color communication throughout the entire packaging supply chain. These applications and services are aimed at supporting packaging printers and converters produce brand colors consistently, anywhere in the world, within a fully optimized digital process.
Deluxe (NYSE: DLX), a Trusted Payments and Business Technology™ company, announced that Tracey Engelhardt, President of Checks, has taken on additional responsibilities as Chief of Operations. Engelhardt has been with Deluxe for nearly 30 years, overseeing the company’s strong position in checking programs for banks, businesses, and consumers. Her extensive knowledge of the industry, as well as deep understanding of the operations and manufacturing process within Deluxe, makes this addition to her portfolio a natural move for the company. Engelhardt, who has been a member of the Deluxe executive team for more than 10 years, is the first woman to run operations for Deluxe in its 107-year history. She will also continue as President of the Checks division.
Sun Chemical will increase prices across its entire portfolio of packaging, commercial sheetfed, and screen inks, coatings, consumables, and adhesives in Europe, Middle East, Africa, effective June 1st 2022 or as contracts allow. The unprecedented pace of inflationary cost movements continues to further impact the entire spectrum of raw material inputs and packaging components for the ink industry, while raw material availability remains an ongoing concern. The industry is additionally being hit by the current situation in Europe and China, adding up pressure onto supply/demand dynamics as well as on utilities and freight costs. Sun Chemical continues to find ways of mitigating these costs, but the magnitude and speed of cost increases requires the company to further increase prices.
R.R. Donnelley & Sons Company announced the launch of Helium by RRD, an editorial solutions service providing access to specialized copywriting, content strategy, and project management professionals. This service provides brands with a centralized access point to hundreds of subject matter experts in content generation. According to research from Semrush, nearly half (49%) of companies outsource content writing in an effort to meet an increasing demand for B2B and B2C content generation and editorial output. Designed to support organizations with the depth and capabilities they need, Helium manages a North American-based talent pool of specialized writers to offer the following copy-driven services: *Branding – brand guidelines, content strategy, brand messaging and consistency *Marketing –SEO content, digital and social copy, brochures, and blog posts *Advertising – ad copy, scripts, banner ads, direct mail, and social media posts *Thought leadership – blog posts, white papers, and other educational materials...
Quad/Graphics, Inc. has been named one the world’s 25 largest agency companies, as determined by Ad Age, the global publisher of news, analysis, and data on marketing and media. This is the third consecutive year that Quad has been included in the list. Contending in a highly competitive field, Quad ranked No. 16 on the list of top 25 agency companies and No. 22 among the world’s top 25 consolidated agency networks. Periscope, a fully integrated creative agency, and Rise Interactive, a top performance marketing agency, are wholly owned by Quad and are part of the company’s comprehensive agency services.
During Flexo and Labels 2022, Sun Chemical will showcase its complete portfolio of solutions for narrow web, tag and label markets, highlighting the sustainability benefits of its latest product and service innovations. Using the theme “Power of Labels,” visitors of stand 6 will learn about Sun Chemical’s ongoing investments in the region and discover how the company’s commitment to sustainability is fundamental to its innovation and product development.
The Great Lakes Graphics Association (GLGA) will hold its annual Graphics Excellence Awards (GEA) Celebrations on Wednesday, May 25, 2022. The Celebrations are the culmination of the annual GEA competition, which recognizes companies throughout Illinois, Indiana and Wisconsin for superb craftsmanship in the design, creation and production of outstanding printed projects they produce for their customers. Dual sites will have simultaneous Celebrations that evening: the Medinah Shrine Center in Addison, IL, and the Wisconsin Club in Milwaukee, WI. The Celebrations start at 5 p.m. with an extended networking reception. All of the award-winning projects will be on display for attendees to examine and to choose their favorite in the voting for the People’s Choice award. A formal dinner will be served at 6:30 p.m. followed by the presentation of the award plaques and the announcement of the top winners.
CJK Group, is pleased to announce the adoption of its GROW Learning Management System (LMS). The GROW LMS standardizes training across the entirety of the global company. For our customers, this set of online best practices will ensure a higher level of consistency and customer satisfaction. When you’re a global company with dispersed teams and diverse holdings, standardizing corporate best practices is incredibly difficult. CJK Group sought to update and reimagine its corporate learning environment, starting with a comprehensive leadership training program on skills development, company policies, and employment regulations. KnowledgeWorks Global Learning (KGL) was appointed to develop the LMS and design an engaging, six-module digital course for upskilling the company’s supervisors. In late 2021, CJK Group launched its secure, customized learning management platform to bring the whole company together with an organized, replicable training process called GROW. GROW offers a blended program featuring six mandatory online modules in a self-service format accessible to everyone in the business.
Worzalla, an employee-owned printing company specializing in high-quality children’s books and cookbooks, was a sponsor of this year’s Words & Friends for Literacy event hosted and organized by the Portage County Literacy Council. After taking a pause in 2020 and a remote event in 2021 due to the pandemic, this year’s event was a success in helping raise more than $20,000. The funds Worzalla raised and all donations from other participants will support the Portage County Literacy Council’s community-based literacy programs. The Words & Friends for Literacy fundraising event invited members of the community to form teams of four or more people and host a House Party for Literacy. Teams completed challenges and raised funds during Apr. 27, 28 and/or 29. Worzalla’s team, The Jefferson Street Girls, comprised of associates Sparky Musolf, Deb Clark, Brenda Betro, Sarah Zuehlke, Sheila Jasenovsky (Team Capitan), Kim Mains, Cathy Davis, Jennifer Heisler and Shasta Grosbier, took first place in collecting a total of $2,331.00 in pledges from friends, family and fellow Worzalla associates.
Because several areas in Michigan failed to achieve compliance with the National Ambient Air Quality Standard for ozone, the Michigan Department of Environment, Great Lakes, and Energy (EGLE) is moving forward with a series of new regulations designed to reduce the precursors of ozone, which are volatile organic compounds (VOC) and nitrogen oxides (NOx). The Michigan counties designated as nonattainment include those in the West and the Detroit area and include Berrien, Livingston, Macomb, Monroe, Oakland, St. Clair, Washtenaw, and Wayne. In addition, portions of Allegan and Muskegon counties are also designated as nonattainment. The inability to demonstrate compliance with the ozone standard has triggered requirements in the Clean Air Act requiring EGLE to develop and implement a new set of air pollution control regulations designed to reduce emissions of VOCs and NOx. EGLE will have to adopt federal Environmental Protection Agency guidelines on a variety of industries including printing since VOCs are emitted.
With the backdrop of snow-capped mountains in the distance, customers of Hudson Printing in Salt Lake City entered the commercial printer's 120,000-sq.-ft. facility on May 5 for its first-ever open house. The event was intended to give attendees a tour of the facility, as well as a peek at the company's new Landa S10P nanographic printing press with perfector, which has been up and running since November 2021. Although seeing the Landa S10P running in person was a major draw during the event, Hudson Printing also announced that the 113-year-old company would in fact be installing a second Landa S10P later this year. Paul Hudson, CEO of Hudson Printing, explained that the company does a large amount of personalization printing, an area in which the Landa press has proven to be a success.
The SGP Partnership, the leading authority in sustainable certification for the printing industry, announced today Syracuse Label & Surround Printing of North Syracuse, NY has achieved its sustainability certification. A recognized leader in sustainability, the company offers digital and flexographic printing solutions with a product portfolio that includes pressure-sensitive labels, shrink sleeves, flexible packaging, cartons, hang tags, roll fed-wrap labels and other custom-made printed products. As a certified SGP facility, Syracuse Label & Surround Printing is committed to sustainability targets by reducing waste, conserving energy, sourcing sustainable materials, creating a safe workplace and lowering carbon footprint. Each year, SGP certified facilities, like Syracuse Label & Surround Printing, must propose a continuous improvement project as part of its certification. In addition, every two years, facilities must undergo an independent third-party audit.
Net sales in the first quarter were $1.31 billion, up $138.8 million or 11.8% from the first quarter of 2021. While first quarter net sales decreased nearly $3 million due to changes in foreign exchange, the majority of the increase relates to higher client demand for most of the Company’s products and services, and price increases to partially offset inflationary cost increases. The Company experienced significant growth in Supply Chain Management, Commercial Print and Labels products. Organic net sales increased 12.0%. Loss from operations was $25.5 million in the first quarter of 2022 compared to income from operations of $25.1 million in the first quarter of 2021. The first quarter of 2022 included $64 million of expenses related to the merger, and net restructuring, impairment and other charges of $18.9 million which increased $13.1 million from the prior year period. Net loss from continuing operations of $58.4 in the first quarter of 2022 compared to $1.7 reported in the first quarter of 2021. The 2022 net loss from continuing operations reflects the increased loss from operations, higher income taxes and loss on debt extinguishment, slightly offset by lower interest expense.
The Great Lakes Graphics Association (GLGA) is proud to announce the recipients of its second annual Women in Print Leadership Award. The Women in Print Leadership Awards supports GLGA’s ongoing quest to recognize the contributions of women in the Midwest print, graphic arts, finishing and print packaging community as well as those women who support the print industry in a vendor or supplier capacity. Any woman working directly in print or in a vendor role supporting print who was in good standing with her company in Illinois, Indiana or Wisconsin was eligible to be nominated. The nominations were reviewed by a panel of female print professionals outside of the Midwest, who selected one recipient per state.
SPC received three awards for our very own “SPC Innovative Format Guide”: Best of Category award in the Digital Books category; Best of Division for the Print/Graphic Arts Self-Promotion category; and Award of Excellence in the Product Catalogs with 4 or more colors category. This printed guide and digital library is distributed to clients and hosted on the SPC website for our clients to reference anytime as they brainstorm ideas and formats for future direct mail campaigns. This library includes eight categories with 150 pre-approved formats to browse and use for a variety of vertical markets. Using laminated divider cards followed by two-sided digitally produced individual format cards, the guide is built to easily expand to include future innovations. The grommet holes and screw post keep it together and organized while the clear plexiglass box keeps it safe and in sight on any marketer’s desk
*Revenue for the first quarter was $114.7 million higher than the previous year. Excluding the First American acquisition, which closed on June 1, 2021, revenue increased $31.4 million, or 7.1% year-over-year. *The Payments segment delivered revenue growth of 109.1% over the previous year to $166.2 million. Excluding First American, Payments grew 4.3%. *Net income of $9.7 million included $12.7 million of acquisition amortization from the First American acquisition, as well as an increase in interest expense of $15.8 million driven by the transaction. *Cash flow from operations for the first quarter was $34.3 million and capital expenditures were $20.8 million. Free cash flow was $13.5 million, a decrease of $4.4 million compared to the first quarter of 2021, partially driven by increased cash interest payments.
The SGP Partnership, announced Simpson Print of Bloomingdale, ON, Canada has achieved its sustainability certification. From wide format to UV offset, digital and more, Simpson Print has a range of printing capabilities from packaging to retail displays, signage and fixtures. “Simpson Print has long since recognized the significance of sustainability within the marketplace,” said Carla Johanns, Simpson Print president. “SGP certification offered the most credible and robust resources to align our staff and customers, as we plan for a cleaner and more efficient future. Our primary objective is to be leaders in reducing our carbon footprint and taking the courageous steps required for the brands and retailers that demand sustainable action from their supply chain and vendors.”
*Increased Net Sales 5% in the first quarter of 2022, or 9% sales growth excluding divestitures, driven by increased pricing in response to inflationary cost pressures; print segment share gains from new clients; and Net Sales growth in Targeted Print and Agency Solutions. *Reported Net Loss of $1 million and Adjusted EBITDA of $49 million in the first quarter of 2022, compared to Net Earnings of $10 million and Adjusted EBITDA of $70 million in the first quarter of 2021. *Implemented additional price increase, effective May 15, 2022, to help offset inflationary cost pressures.
Specialty Print Communications, (SPC), a direct mail & digital solutions provider, announced that it has completed its SOC 2 Type II audit, performed by KirkpatrickPrice. This attestation provides evidence that SPC has a strong commitment to security and to delivering high-quality services to its clients by demonstrating that they have the necessary internal controls and processes in place. A SOC 2 audit provides an independent, third-party validation that a service organization’s information security practices meet industry standards stipulated by the AICPA. During the audit, a service organization’s non-financial reporting controls as they relate to security, availability, processing integrity, confidentiality, and privacy of a system are tested. The SOC 2 report delivered by KirkpatrickPrice verifies the suitability of the design and operating effectiveness of SPC’s controls to meet the standards for these criteria.
Siegwerk Druckfarben AG & Co. KGaA, one of the leading international suppliers of printing inks for packaging applications and labels, has signed a contract to purchase the Italian ink manufacturer La Sorgente Spa. The family-owned company is located in Poppi (Arezzo), Italy, and manufactures high-quality water-based flexographic inks for paper & board applications as well as solvent-based inks for flexible packaging. Founded in 1929, the company is one of the most important ink suppliers for flexographic printing in Italy today. With this acquisition, Siegwerk further expands its product portfolio for packaging printers while concretely strengthening its local footprint in the Italian market. “La Sorgente Spa is a well-established ink expert for paper & board as well as flexible packaging applications with a strong reputation in Italy. Its ink solutions fit perfectly into our product portfolio,” says Dirk Weißenfeldt, Vice President Flexible Packaging EMEA at Siegwerk. The purchase will enable Siegwerk to significantly expand its presence while building up its infrastructure and workforce to further grow in Italy.
The rebrand reflects Nahan’s growing suite of services that include marketing strategy, creative, data, and analytics — coupled with world-class print production and postal strategies — providing a fully integrated solution for its clients. The news follows on the heels of Nahan’s earlier announcement that it had expanded its direct mail capacity and geographic footprint through the acquisition of a Pennsylvania-based facility. “Our business has evolved dramatically in recent years, including an expansion of the services we offer, enhancements to our printing platform, and considerable additions to our leadership and management teams,” said CEO Mike Ertel. “We’re excited to unveil updated branding that more accurately reflects the company we’ve become, which is a one-stop-shop for our clients’ direct marketing needs.”
Deluxe announced that it has signed Porsche North America to a multi-year contract in its Promotional Solutions business. With the agreement, Deluxe has also signed on as title sponsor for the new Porsche Carrera Cup signature racing series in North America. Deluxe will be the premium preferred supplier to Porsche brands in North America, providing all printed products, apparel, signage kitting and other services at events across the country and to the Porsche family of brands. The Porsche racing performance team will use the exclusive Deluxe promotional solutions online technology to order custom materials and products for their team members and racing fans across the country.
Modern Litho-Kansas City welcomes a new Heidelberg XL106 8-Color press. This new press is filled with new technology – LED ink, UV coating, and even autonomous printing. Excitement is high as we realize the tremendous advantages this new technology brings to our Kansas City location and our company. We have been busy this winter, after the acquisition of Watkins Lithographic we have been transplanting ourselves from the production facility on Taney St. to our new facility at 133 W 10th Ave in North Kansas City. With spring in the air, we see the flowers blooming and trees budding. We are surrounded by new life outside and excited about the new beginnings inside as well. veiw video at: https://modernlitho.com/2022/04/modern-litho-best-press-on-the-planet/
Worzalla, an employee-owned book printer specializing in printing high-quality children’s books, cookbooks, and hard-cover best sellers, announced that its newest printing press is now fully operational. As part of its Phase III of expansion, Worzalla purchased a Goss Sunday 2000 32-page Double Web Press that provides a broad range of print formats and page configurations. Testing of the new press, which measures nearly 200 feet in length, was a months-long process that is now complete. “The final piece of our Phase III expansion is now finished, and it’s thrilling to see books rolling off the line of this massive new press,” said Jim Fetherston, President and CEO of Worzalla. “Our associates who have been working with the Sunday 2000 press have appreciated the technological advances and increased productivity.” Along with Phase III expansion, Worzalla continues to grow their workforce which will operate the new press and for the day-to-day operations of creating the millions of books ordered by Worzalla’s customers each year.
*Revenues were $99.7 million for the quarter, an increase of $9.8 million or 10.9% for the comparative quarter and $400.0 million for the fiscal year, an increase of $42.0 million, or 11.7% for the comparative fiscal year. *Earnings per diluted share for the current quarter were $0.26 compared to $0.20 for the comparative quarter last year. Earnings per diluted share were $1.11 for the fiscal year as compared to $0.93 for the last fiscal year. *Our gross profit margin for the quarter decreased on a comparative quarter basis from 29.6% to 27.5%. Gross profit margin was 28.7% for the fiscal year compared to 29.0% for the prior fiscal year.
Snow Peak Capital, LLC, a Boulder, Colorado-based private equity firm, announced that it has made a majority investment in Sandy Alexander, Inc. (“Sandy Alexander” or “the Company”), a leading multi-channel marketing communications company, in partnership with Sandy Alexander’s management team and other previous owners. Founded in 1963, Sandy Alexander offers a variety of direct marketing services, including printing and finishing services as well as visual effect experiences. The firm serves the retail, casual dining, technology, automotive and healthcare industries. Sandy Alexander has multiple software offerings that cater to a broad range of customers. Sandy Alexander is headquartered in New Jersey with additional facilities in Florida and in Southern California.
Sun Chemical has launched ElvaJet Onyx SB – a new sublimation ink for textile printing. ElvaJet Onyx SB addresses market needs by delivering a high-performance ink that offers ease of use for wide-format textile printers. ElvaJet Onyx SB is designed to meet the market need for extended print runs between cleaning cycles, while the ink’s simple conversion process allows for immediate printing and easy start-up before or between print jobs. The advanced formula leads to enhanced print performance ensuring maximum system up-time with little intervention needed. The ink range maintains Sun Chemical’s trusted performance on a full range of transfer papers with superior edge definition and color transfer, while offering the deepest shade of black. ElvaJet Onyx SB is available in 1kg bottles and 2kg pouches to give printers maximum flexibility in conversion options.
Following the Superior Court's decision, rendered on April 20, 2022, dismissing its motion to nullify the City of Mirabel’s by-law on the distribution of printed advertising materials, and pending its appeal of this decision, TC Transcontinental (TSX: TCL.A TCL.B) is discontinuing its Publisac service in Mirabel. As already indicated by TC Transcontinental, the opt-in distribution model adopted by the City of Mirabel is not viable for the door-to-door distribution of Publisac. TC Transcontinental is therefore moving the distribution of its clients’ printed advertising material in Mirabel to Canada Post. "We find it very unfortunate to have to discontinue the distribution of the Publisac in Mirabel after more than 30 years of operations in the City, and we regret the disappearance of 16 jobs", said Patrick Brayley, Senior Vice-President, Distribution at TC Transcontinental. "It is important however to continue to allow the population to have access to the discounts offered by flyers, particularly in the context of high inflation, as well as to their local information, and for local businesses to be able to efficiently reach their audiences and compete against the giants of e-commerce."
In these times of unprecedented energy costs it has become clear that the heatset printing sector is now under severe cost pressures from many different areas. The product development team at Flint Group’s Commercial Publication Web Division (CPW) have been assessing how we can develop our products to perform with a lower demand for oven assisted drying. Our development whilst in early stages and yet to be fully proven will also serve to reduce the total cost of print. The Lo Energy series also helps to reduce the CO2 emissions of the heatset printing process making it a secure option for the future of print. Following several tests across our customer base we are pleased to announce that we are now in a position to expand the development of this product. The Prem Eco 7000 Lo Energy Series of inks targets publications produced on improved newsprint and has shown significant reductions in drier utilisation up to 100% dependent on coverage.
The last two years have proved to be an extremely challenging period of time for the print industry. Raw Material shortages and multiple price increases, combined with staff shortages caused by the ongoing Covid-19 pandemic, created arduous circumstances for all businesses involved in our industry. From printers themselves, to freight companies and suppliers of key raw materials, all were adversely affected. After over two years experiencing the challenges that the global pandemic presented, the more optimistic amongst us had hoped that 2022 would present some stabilization in the print supply chain, however, as we move in to the second quarter of the year, this stabilization is yet to materialize, and is unlikely in the near future whilst the tragic events in Ukraine continue to develop. Not only are the trials of the Covid-19 pandemic still with us, but rising inflation, increasing fuels costs, huge demand for packaging of all types and a global energy crisis have further increased the burdens faced by suppliers to the print industry. These increases, in some cases, have been so astronomic that it is not possible for any supplier to absorb, and ultimately, the increased costs have been passed down the supply chain.
Nahan announced it has acquired the mail division assets of Intellus Marketing. The purchase allows Nahan to strategically expand its geographic footprint and complement its existing Minnesota facility with enhanced printing, mailing, distribution, and logistics capabilities that enable faster speed to market. “Direct mail is the fastest-growing segment of our business,” said CEO Mike Ertel. “The addition of an East Coast facility strengthens our already best-in-class platform with improved cycle time, which is integral to our end-to-end direct marketing solution.” The dual facilities will also increase Nahan’s overall print and mailing capacity to support the growing needs of its expanding customer base. The former Intellus facility, located in Montgomeryville, Pa., is equipped with a high-speed direct mail production platform which enables high volume execution of direct mail campaigns.
TC Transcontinental, owner of the Publisac, reacts to the City of Montreal’s announcement of its intention to implement an opt-in system for the distribution of flyers beginning in May 2023, that would lead to the end of the distribution of the Publisac on its territory. As already indicated by TC Transcontinental, an opt-in model is unsustainable because of its complexity and the prohibitive costs it would generate. "In the current inflationary context, and at a time when the population is facing an unprecedented rise in prices, the social and economic relevance of the Publisac is greater than ever," said Patrick Brayley, Senior Vice-President of the Distribution Group of TC Transcontinental. Indeed, the Publisac, in addition to giving consumers access to discounts, distributes local newspapers at an advantageous cost, helps merchants to attract customers and compete against the giants of e-commerce, and supports thousands of direct and indirect jobs. We intend to assert our rights and those of our customers if necessary."
Sheridan’s parent company, CJK Group, has approved several new equipment acquisitions for the Sheridan facilities, bringing even more state-of-the-art capabilities to five of its nine locations. The Sheridan Pennsylvania facility will install an HP T250 Series PageWide Inkjet Web Press equipped with an in-line Magnum Finishing Line, and will implement an upgrade of two HP T240 Series PageWide Inkjet Web Presses to the T250 format with the new T250 Core, Vision System, and DFE – all planned for this fall. In addition, a Muller Martini Infinitrim Three-Knife Trimmer will be integrated with an existing Vareo Perfect Binder, resulting in the most efficient means of binding and trimming ultrashort-run books down to a quantity of one. That installation is slated for this summer. The Sheridan Kentucky and Sheridan Michigan plants will each implement an HP DFE Base and Vision System Upgrade to their HP Series PageWide Inkjet Web Presses (HP T400 Series in Kentucky and HP T300 Series in Michigan). The Sheridan Wisconsin facility will add to its digital fleet with the installation of a new HP Indigo 12000 Sheetfed Toner Press this spring.
Brook + Whittle, a leading provider of pressure sensitive and shrink sleeve prime labels, today announced that it has signed a definitive agreement to acquire the Custom Labels Group within Cenveo Worldwide Limited (“Cenveo”). The acquisition significantly enhances Brook + Whittle’s position in e-commerce and digital label printing in North America. “Cenveo’s Custom Labels Group is a differentiated business with incredible experience in short run volumes, fast turnaround service, and great product quality, all delivered through some of the world’s most advanced digital systems,” stated Mark Pollard, CEO of Brook + Whittle. “This acquisition places Brook + Whittle at the forefront of digital transformation in the label industry. Regardless of whether our customers require one or one billion labels, the combined platform has the capability to deliver high quality, custom designed products with the industry’s fastest lead-times. Brook + Whittle welcomes the Custom Labels Group employees, and we are excited about our collaboration to provide unmatched capabilities and value to our respective customers.”
The Quantum Group, a trusted expert in direct marketing and business communications services, is continuing its investment in innovative new technologies to better serve its customer base with the purchase of a Canon ProStream 1800 inkjet web press. The addition of the ProStream adds to Quantum Group’s extensive line of digital and offset printing equipment. Cheryl Kahanec, CEO of Quantum Group, said, “Our client’s printing and mailing programs have become more complex. Today’s campaigns feature vivid imagery, dynamic content and higher degrees of variability printed on unique formats and substrates. The ProStream sets a new benchmark for inkjet quality, with a color gamut beyond offset standards. “As a forward-thinking company, we continuously evaluate the benefits of the latest technologies with a view to not only enhance our current services, but also to deliver something new and unique,” explained Kahanec. “We quickly realized that Canon’s solution offers just that and could take our digital printing services to the next level.”
John Galligan, president of B&B (Bradford & Bigelow), discusses his Newburyport, Massachusetts-based book printing company’s $35 million investment in an HP color inkjet web press, Muller Martini digital and conventional finishing equipment, a second Manroland web offset press, and expanded warehouse/distribution space. He also reveals the advice he is providing B&B customers concerning the paper crisis. see more at: https://www.piworld.com/xchange/production-inkjet-printing/bb-president-discusses-35m-book-printing-investment/
Canon Production Printing and Canon Inc. today announce the acquisition of UK-based packaging converting equipment manufacturer Edale, with the aim of strengthening Canon’s label and packaging business, and creating opportunities for future developments. Through this acquisition, Canon is intensifying its long-term strategy to provide turn-key solutions for the label and packaging sectors. The move will enable Canon Production Printing to further develop its LabelStream 4000 product line, as well as provide expertise and technology for future products. Based in Hampshire, UK, Edale engineers and manufactures world-class printing and converting solutions for the label and packaging industry, including digital and hybrid presses, carton and label production lines, flatbed die-cutters, and finishing and converting equipment. The company has a long history in the flexo label industry and a strong reputation for its web transport and converting solutions for digital label production.
Worzalla, an employee-owned book printer specializing in printing high-quality children’s books, cookbooks, and hard-cover best sellers is inviting the community to discuss solutions to the child care shortage in Central Wisconsin. Worzalla, along with childcare company KinderCare, are inviting community members and employers to a one-hour virtual event on Tuesday, April 5 at 9:00 a.m. to discuss possible solutions. As an employer of more than 350 employees at their Stevens Point facility, Worzalla recognizes the current childcare challenge many community members are facing and the impact it has on the workforce. “With quality childcare in high demand and low supply, finding childcare can be a major stressor for employees and it can also be a barrier to employment,” said Brianne Petruzalek, Vice President of Human Resources at Worzalla. “In talking with parents regarding childcare, you will hear two primary concerns–wait lists are long and childcare is costly.”
Johnson & Quin, Inc. celebrates its 145th year in the printing industry, beginning as a ledger book printer in Chicago in 1876 and evolving into a national supplier of direct mail production and mailing. The company also announces the promotion of Andrew Henkel to President. After 33 years of leadership as CEO and President, David Henkel is handing over this key role to his son. Andrew has been with the company for 15 years, initially concentrating on sales and most recently as Vice President. During that time, his leadership has helped Johnson & Quin remain competitive in the direct mail industry. He was heavily involved in steering the company from older print technology to state-of-the-art color inkjet print and personalization which has been key to the company’s growth. “Andrew’s new role as President is a logical signal of generational change, as well an important sign of continuity to our clients, prospects, vendors and employees,” states David Henkel. “Andrew has been key in managing many of our major clients and instrumental in major company decisions over the past several years. He is supported by an exceptional management team, who have all been involved in the operation and growth of the company over the years.”
Do you think it is possible that an individual’s single action could change the course of the entire planet? YES IT IS! The Sustainable Green Printing Partnership & SGP Foundation are seeing Sustainability Champion nominations of individuals from an SGP Facility, Patron, Resource Partner or Brand Leader. Applications must be submitted online by April 8. Listen to the new video explaining the Sustainability Champion’s program and highlighting the 2021 winners Blake Pace of SGP Patron Primex Plastics Corporation and Christopher Rose of SGP Facility Shutterfly.
Built on a deep understanding of the textile and sublimation industry and experience in digital printing, Sun Chemical’s new ElvaJet Topaz SC sublimation ink delivers easy ink and system management for printers in the sector. The new solution increases the ease of use and on printer experience by enlarging the ink operating window for accurate jetting performance. This enables wider cross system compatibility delivering outstanding reliability and reducing the reliance on waveform. At the same time, it provides increased image quality with optimized jetting performance across all drop sizes, allowing any design to be printed without compromise. With careful focus on the jetting behavior, Sun Chemical has designed ElvaJet Topaz SC to have superior drop control at the different available drop sizes on the full range of Kyocera printheads ensuring that it is easier to use day in, day out.
Huston Patterson and Sigma Graphics, leading suppliers of high-graphic printed materials, announced the companies have merged with Lewisburg Printing Company (“LPC”). LPC, a portfolio company of Radial Equity Partners, manufactures printed materials and packaging for a broad range of markets, including personal care, food & beverage, healthcare, and other consumer markets. Terms of the transaction were not disclosed. Founded in 1895 in Decatur, IL, Huston Patterson manufactures printed materials for the packaging and point-of-purchase markets. The company is a G7 Master Printer with a broad range of capabilities including large and small format lithographic and digital printing as well as value-added prepress and finishing services. The company provides unparalleled value and performance through the effective use of both technology and craftsmanship. Sigma Graphics, located in Ottawa, Illinois, is Huston Patterson’s specialty products division.
Several members of the World Print & Communication Forum (WPCF) warn that the current paper shortages will have severe repercussions in the supply of print products for all economic markets and endangers the rebound of the graphic industry after the pandemic. The World Print & Communication Forum is a federation of printing associations all over the world and a number of them point to current supply problems; these countries include Australia, Europe, India, Japan, Nepal, South Africa, South Korea, Sri Lanka and the United States of America. The graphic industry supports all economic activities with their products, be it for information, news, entertainment, education, advertising or packaging. Print plays a huge role in everyday life – so much so that it is frequently overlooked. Our sector supplies the packaging for goods at the supermarket, the books, newspapers and magazines we read as well as the boxes our digitally ordered food, clothing, gadgets and much more are packaged in.
I’m happy to report the labor issue at Sheridan seems to be turning a corner – though it may be a wide and long corner, and hiring is picking up across our locations. Could it be that the new workforce of today is just as taken to a juicy burger being cooked on the grill by our operations leaders?… I digress. Here are a few of the many ways that Sheridan is igniting the spark in local communities to keep printing an ongoing art: *We invite local graphic arts students to spend a day with us to gain firsthand experience of the graphic art and book manufacturing processes. *We participate in Woodford County Economic Development Authority’s Annual Industry Day in Kentucky by hosting onsite or virtual tours. *We participate in Make it in Manufacturing day in Wisconsin by hosting onsite tours for local high school students. *We work with local colleges to bring in interns from printing programs, graphic arts, and related studies. *We participate in youth apprenticeship with local high school students. *We speak at local vocational and high schools during career preview days. *We speak at local colleges about manufacturing job opportunities. *We participate in area and trade specific job fairs.
Canon Inc. expresses deep concern for the ongoing military attacks against Ukraine and the humanitarian crisis it has created, and hopes that the people affected may soon be able to live in peace once again. The Canon Group is making a donation of approximately one million euros (approximately JPY 130 million / USD $1.1 million) to the UNHCR refugee agency and other international humanitarian organizations. These funds will be used to provide support to the Ukrainian people whose lives have been so deeply affected. The Canon Group will strive to provide ongoing support through such measures as collecting donations from Group employees. Canon's corporate philosophy is kyosei. It conveys our dedication to seeing all people harmoniously living and working together in happiness into the future. Canon sincerely wishes for a peaceful resolution as soon as possible.
Thysse, best known for generating innovative brand solutions and serving its local community, announced an expanded internal leadership structure. The adjustment will bring the company closer to its vision of becoming the premier model of a Brand Experience Provider. The restructuring includes new internal roles for owner and company President, Jason Thysse, who will serve as Chief Executive Officer, and for Dean Bott, former General Manager, now serving as President. The new leadership structure allows Jason to focus on strategy that shifts Thysse into the future, transitioning the company to one that encourages leadership at every level. This move will empower Thysse employees to act with autonomy in supporting the company’s overall vision while fostering accountability and effective decision-making in their daily work. In his new role as President, Dean Bott will draw on his extensive experience with process education within the print industry, assuming responsibility for day-to-day company functions. Already a key leader in the company, Bott will now oversee leadership, finance, marketing, sales and operations – both creative and manufacturing.
R.R. Donnelley & Sons Company introduced an offering for cannabis and CBD companies designed to help them meet evolving product life cycle needs, including product differentiation at retail, regulatory adherence, and supply chain continuity. The cannabis and CBD industries have gone through immense regulatory change over the last few years that has transformed the retail landscape and created growth opportunities for both product lines. In fact, the Leafly Jobs Report found that nationwide cannabis sales increased 33% in 2021. As the cannabis dispensary industry continues to mature, customers demand both product variety that fits their lifestyle and easier access to product health and wellness information. RRD’s offering is designed to help cannabis and CBD businesses keep pace with market demand and create meaningful product engagement with consumers at dispensaries and select CBD retailers.
Transcontinental Inc. announces the acquisition by TC Media of Scolab Inc., a leader in the development of digital educational products. Scolab is known for Netmath, distributed in Canada in French and English, and Buzzmath, distributed in the United States. These products are used by thousands of students and teachers across North America. "Scolab is a visionary, innovative and dynamic company", said Patrick Lutzy, President of TC Media. “This strategic acquisition enhances TC Media Books’ already strong digital offering. The co-existence of digital with print is essential today in our industry, and we are proud of our leadership in this area. This new step forward expands and diversifies our offering of digital educational products for the elementary and secondary levels."
Sun Chemical is expanding its edible ink range with the launch of its FSR ink, which was developed to meet the specific needs of the food industry and verified for printing directly onto food including baked goods. Created to offer outstanding color and sharpness, while also complying with the highest levels of quality and safety regulations, Sun Chemical’s FSR ink range is based on synthetic colorants suitable for use for direct food printing using mid-viscosity range piezo printheads, such as the Ricoh GH2220 digital printhead. This completes a series of digital edible inks, complementing the existing low and high viscosity FSE and FSS lines, to enable food decoration with a full range of digital printhead technologies. The FSR range of inks has been developed using carefully selected synthetic food dyes that conform to FDA and EU legislation and is suitable for food printing when used in the right conditions for food production. The technology is also suitable for pharmaceutical and nutraceutical markets such as printing on pills and capsules. Sun Chemical is collaborating with printer manufacturers specifically targeting the food and pharmaceutical industries, highlighting the need to provide the market a fully capable and innovative food printing technology.
Highlights *Revenues of $690.6 million for the quarter ended January 30, 2022; operating earnings of $33.8 million; and net earnings attributable to shareholders of the Corporation of $18.4 million ($0.21 per share). *Completed, on February 1st, 2022, a private offering of $200 million of 2.667% senior unsecured notes due in February 2025. *Ranked 16th among the world's most sustainable corporations by Corporate Knights.
HP Inc. announced the delivery of the 100th HP Indigo 100K Digital Press marking a milestone as customers continue to thrive on the breakthrough press. Adding to their existing fleet of 5 HP Page Wide and Indigo products, award winning print service provider Solopress, continues in their digital transformation this month, with the installation of the HP Indigo 100K Digital press. Simon Cooper, MD of Solopress, comments, “We’re really pleased to see the market turn a corner and orders start to increase after a very tough period. During the last few years we’ve spent time as a business making changes which deliver more value to our customers. And in of support of that goal, we recently added the HP Indigo 100K to our fleet, which alongside the introduction of HP Siteflow, complements our existing automation capabilities.”
Sun Chemical has collaborated with HP to launch sustainable flexible packaging produced with HP’s Indigo digital press and Sun Chemical’s new solventless lamination solution SunLam. Due to its fast-curing, ultra-low monomer and solvent-free properties, SunLam can help brands improve their sustainability and expand the circular economy. As part of the partnership, Sun Chemical and HP developed stand-up pouches printed on HP’s Indigo 25K digital press using monomaterial polyethylene (PE) and polypropylene (PP) substrates, and laminated with Sun Chemical’s SunLam solution. The all-PP pouch was certified by Germany’s Institute Cyclos-HTP after being successfully tested for a recyclability rate of 96%.
A refrain is now heard throughout the printing industry; paper supplies are very tight, allocations limit the ability to take on new customers, discounts and rebates are a thing of the past, shipments are delayed until price increases take effect, and printing and packaging companies increase paper inventories at every opportunity. The supply and demand curves have crossed, and the mills are in charge. There are several reasons pricing leverage has shifted to the mills, including a labor strike at Finnish papermaker UPM, Covid-related supply chain disruptions, shortages of drivers, all in addition to the numerous closures of paper mills over the past several years. The Finns will eventually go back to work, shipping containers will get sorted out, truck drivers will be hired, and pricing will eventually settle down. However, one trend that is not likely to reverse is the conversion of papermaking machines from printing paper grades to packaging grades.
Sun Chemical and its parent company, the DIC Corporation, will amend their existing transportation surcharge. In addition, and in order to reflect cost dynamics in the global energy market, an energy surcharge on the entire Color Materials portfolio will become effective from April 1, 2022. As the unprecedented pace of inflationary cost movements continues to impact the entire spectrum of raw material and packaging components for the color materials industry, without sign of stabilization in sight, the industry is also being hit by abrupt rises of energy costs, including electricity, gas and diesel, drastically impacting manufacturing costs and freights costs. “Our priority remains to keep supplying our customers, allowing them to keep their facilities operating,” said Stefan Sütterlin, President, Global Color Materials. “We continue to leverage our global network to secure our manufacturing and services efficiency. However, the magnitude of recent energy related inflation cannot be absorbed and requires us to implement surcharges. The situation will need to be adjusted as it goes, and we can assure our customers that surcharges will be phased out as the situation allows.”
Chatham Asset Management, LLC announced that they have completed a transaction in which affiliates of Chatham have acquired RRD for $10.85 per share in cash. The acquisition was previously announced on December 14, 2021, and RRD stockholders approved the transaction at the Special Meeting of Stockholders held on February 23, 2022. With the completion of the transaction, RRD expects its common stock will cease trading on the New York Stock Exchange before market open on February 28, 2022. In connection with the completion of the transaction, Thomas J. Quinlan has assumed the role of President and Chief Executive Officer of RRD.
Sun Chemical will implement energy surcharges across its entire portfolio of packaging, commercial sheetfed, and screen inks, coatings, consumables, and adhesives in Europe, Middle East, Africa, effective from March 1, 2022. As the unprecedented pace of inflationary cost movements continues to impact the entire spectrum of raw material and packaging components for the ink industry, without sign of stabilisation in sight, the industry is also being hit by abrupt rises of energy costs of all kinds, including electricity, gas, fuel, diesel, drastically impacting manufacturing costs and freights costs. The current situation in Europe has already been adding up further on costs, with more uncertainties moving forward.
R.R. Donnelley & Sons Company held its virtual special meeting of stockholders to consider two proposals relating to the previously announced Agreement and Plan of Merger, dated as of December 14, 2021, by and among Chatham Delta Parent, Inc., Chatham Delta Acquisition Sub, Inc. and RRD. Pursuant to the terms of the Merger Agreement, Acquisition Sub will merge with and into RRD, with RRD surviving the Merger as a direct or indirect wholly owned subsidiary of Parent. The first proposal, to adopt the Merger Agreement, was approved by affirmative vote of a majority of the outstanding shares of RRD common stock entitled to vote thereon.
Worzalla was ranked the largest employee-owned book printer in North America and the fifth-largest North American book printer in Printing Impressions’ latest industry rankings titled “2021 Printing Impressions 300.” Worzalla was also ranked the 63rd largest printer by annual sales on the general list that includes all printing companies in North America. This is the second consecutive year Worzalla has been ranked as a Top 5 Market Segment Leader in the book printing category. Worzalla also held its ranking as the 63rd largest printer from last year. “Our consistent growth and ranking in Printing Impressions’ annual report is a reflection of Worzalla’s ability to support its customers as book sales continue to increase across America,” said Jim Fetherston, President and CEO of Worzalla. “Much of our success is due to our dedicated associates, who do so much to deliver quality products for our customers despite the challenges our industry has faced over the last few years.” In 2021 Worzalla launched phase three of its modernization plan adding needed printing capacity to its facilities in Stevens Point, Wisconsin. The expansion included the addition of a new casemaker and press. Additionally, Worzalla continued to grow its workforce for the day-to-day operations of creating the millions of books ordered by Worzalla’s customers each year.
Recent Highlights *Increased Net Sales 1% (3% excluding divestitures) in 2021, driven by higher print volumes, including print segment share gains from new clients, growth in Agency Solutions Net Sales, and increased pricing in response to inflationary cost pressures. *Delivered $38 million of Net Earnings From Continuing Operations in 2021 and Adjusted Diluted Earnings Per Share From Continuing Operations of $0.60 per share in 2021 compared to $0.29 per share in 2020. *Generated $137 million of Net Cash From Operating Activities and Free Cash Flow of $87 million in 2021. *Divested non-core assets, generating $166 million of cash proceeds in 2021. *Reduced Net Debt by $410 million or 40% over the past two years, reaching Debt Leverage of 2.5x.
Full Year Key Messages *GAAP net sales, including the impact of foreign exchange and a disposition in early 2020, increased $197 million or 4.1%; Non-GAAP organic net sales increased 3.2% primarily from higher demand for many of the Company’s products and services *GAAP income from operations was up $55 million versus the prior year *Cash provided by operating activities in 2021 was $92.1 million as compared to $149.8 million in the prior year period; current year results include payments in excess of $100 million related to the planned merger, settlement of LSC bankruptcy related claims, repayment of half the payroll taxes deferred in 2020 and payments made to terminate certain interest rate swap agreements *Total debt outstanding of $1.47 billion at December 31, 2021 is down $37 million from the prior year end; Pension and OPEB plans are overfunded by $42 million at December 31, 2021 which is an improvement of $146 million from the $104 million underfunded amount at the prior year end *Gross leverage ratio of 3.6x and net leverage ratio of 2.9x both improved 0.1x from December 31, 2020 and represent lowest levels since 2016 spin
Tony Lord President of Flint Group Commercial Publication Web Division said, "The first responsibility of a supplier is to meet its obligations to its customers for provision of required volumes to maintain the integrity of the supply chain. To meet this requirement we have been successful in responding to the post pandemic’s unprecedented disruption in both global raw material and energy markets by ensuring both product and energy availability to meet our customers’ demands. This has, however, been at previously unparalleled price levels across our entire portfolio of raw materials and manufacturing locations". Lord further stated "Regrettably the hoped for stabilisation in both raw material availability and pricing has failed to materialise so far in 2022 with products remaining scarce and their pricing continuing to escalate accordingly. This, coupled with the exponential increase in energy tariffs, has created a situation where current selling price levels for our products are simply not sustainable. To respond to this sudden rise in costs we feel the sensible approach is to avoid a general price increase and apply a monthly surcharge whilst awaiting further market developments. To this end, effective for deliveries from March 1st 2022, surcharges to recover these recent cost increases will be applied across our entire publication ink portfolio so that we can maintain supply to our customers".
Chris Carpenter, President and owner of Sun Prairie, Wisconsin-based Royle Printing, describes why his catalog and magazine printing operation invested in an eight-unit Goss Sunday 2000 heatset web offset press with double former folder. He also discusses the current industry-wide paper shortage. https://www.piworld.com/xchange/offset-printing/royle-printing-installs-8-unit-heatset-web-offset-press/#ne=d7f0e6e16b0d037f71fc050491da5623&utm_source=today-on-piworld&utm_medium=newsletter&utm_campaign=2022-02-14
European printing companies have warned that industries such as food and consumer goods could suffer significant disruption to their supply chains because of a growing shortage of paper. Strikes by thousands of workers at mills owned by forestry group UPM-Kymmene in Finland have exacerbated paper shortages that started with an unexpectedly strong rebound in demand after lockdowns eased. “You’ve got paper prices spiking and everyone chasing too few tonnes,” said Iwan Le Moine, director of EMGE, a consultancy. “It’s an absolute mess.” Finat, which represents more than 1,000 European label producers, has warned of supply disruptions because of shortages in specialised paper types.
SCREEN Americas announces the installation of the Truepress Jet520HD AD at MSP, of Bloomsburg, Pennsylvania. The installation of the high-definition inkjet web press with an advanced drying unit, the Truepress Jet520HD AD will join the Truepress Jet520NX in the company’s 100,000-square-foot facility. The new SCREEN press replaces MSP's original Truepress Jet520S and Truepress Jet520ZZ models. With this latest installation, MSP plans on eliminating its offset lithographic equipment entirely. The ability to put multiple jobs on one roll combined with a one-touch operation has proven to be both profitable for the printer and beneficial to the customer allowing MSP to effortlessly convert more than 100 of its clients over to SCREEN’s technology. The company’s chief operating officer, Doug Wright, expects that with the installation of the Truepress Jet520HD AD, the few remaining clients he has on lithographic presses will soon make the switch to digital inkjet technology.
Lakeside Book Company and ALJ Regional Holdings, Inc. jointly announced that they have entered into a definitive agreement for Lakeside's acquisition of all of the issued and outstanding shares of common stock of ALJ's wholly-owned subsidiary Phoenix Color Corp. ("Phoenix"). Headquartered in Hagerstown, Maryland, Phoenix is a specialty printer of book components, children's books, and other print-related products with printing facilities in Indiana and Maryland. The transaction is expected to close during the second calendar quarter of 2022, subject to customary closing conditions and regulatory and stockholder approvals. "We know Phoenix well as a recognized leader in book components. Adding their team's capabilities to Lakeside's service offerings will enable our publishing customers to conveniently manage book and cover printing in one place," said Dave McCree, Lakeside's Chief Executive Officer. "We are always looking for ways to make the printing supply chain more efficient for publishers and this transaction would be a significant step in that direction."
SG360°, an industry-leading provider of performance-driven direct marketing solutions, announced that effective immediately, James (Jim) Andersen has been appointed Interim CEO of SG360° in the wake of the death of the previous CEO, John A. Wallace, Jr. on January 4, 2022. Mr. Andersen has extensive and successful decades of direct marketing experience and has been a member of the SG360° Board of Directors since October of 2021. “We are fortunate to have Jim on our board and that he’s in a position to step in to fill this crucial, temporary role while we search for a permanent successor to John,” said Willie Woods, President of ICV Partners, LLC. “Jim’s close working relationship with John over the last three months will serve the company well as we focus on continuing the execution of the innovation-driven growth strategy that John had begun.”
Sheridan is excited to announce a new feature enhancement to Sheridan SelectTM, offering publishers multi-volume set support for print-on-demand books. Sheridan Select has been simplifying publishers’ production workflows for over a decade, be it through fully-automated data integration, or a simple, easy-to-use web portal to upload files and place orders. This new feature enhancement gives publishers the ability to identify, upload, store, order, and print sets or collections comprised of multiple products with ease. This feature is available in both the fully automated and self-service models of Sheridan Select for print-on-demand books. It supports member products (i.e., child ISBNs) to be ordered independently, or as part of a collection (i.e., parent ISBNs). If desired, the ability to turn on or off member product independence is also available. For example, “If a set is defined as volume 1, volume 2, and volume 3, Sheridan Select has the ability to control whether each individual volume can be ordered by itself or not as defined by the publisher,” comments Eric Biggins, Sheridan’s Director of Customer Technology. “The rollout of this latest feature is just one more way that Sheridan continues to streamline publishers’ workflows and bring efficiencies to their businesses.”
R.R. Donnelley & Sons Company helped Levain Bakery™ meet a 200% increase in e-commerce demand during the pandemic. The 26-year-old company, which started on Manhattan’s Upper West Side, has transformed from a New York City institution popular amongst locals and tourists, to a national brand – while improving efficiencies and exceeding consumer expectations with the help of RRD’s packaging and warehousing solutions. Amid the onset of COVID-19, Levain experienced skyrocketing demand for its assortments of cookies available for purchase online. Simultaneously, the company needed to address an e-commerce packaging redesign while scaling up its warehousing capacity. To address these challenges, the company collaborated with RRD, a Chicago-based company with roots in printing that evolved to offer solutions from creative design and kitting to warehousing and proprietary supply chain management, and more. “We were already a growing brand, opening new bakeries, scaling our e-commerce business, and expanding into grocery retailers,” said Andy Taylor, CEO of Levain. “The challenge was creating a packaging solution that not only ensured our customers would receive our product in pristine condition, but also improved our efficiency to better meet demand. When COVID-19 caused New York—and the rest of the world —to shut down, we saw online orders multiply and we needed a supplier that had the flexibility to meet accelerating demand on a greater scale.”
RMGT, manufacturer of the leading 8-up sheetfed offset press in North America, announces that Envision3 is the most recent printing operation in North America to install the new 8-UP+ RMGT 970 offset press. Based in the greater Chicago area in Bloomingdale, IL, Envision3 is one of the top 300 largest printing and mailing manufacturers in the country and is a full-service offset and digital printing, packaging, mailing, and finishing company. Since its inception in 2000, Envision3 has been a traditional 40” shop having installed three Mitsubishi presses in this time period. Since Mitsubishi merged with Ryobi to form RMGT, Envision3 recently expanded their offset press line with the newly introduced RMGT 970 press. “We've been a Mitsubishi shop, now RMGT, for the 21 years since our formation,” states Kevin Franz, President, Envision3. “Mitsubishi and RM Machinery have won our business multiple times through the years with their new presses and great service.” Envision3 started in 2000 with a 40-inch and a 28-inch Mitsubishi offset press and later moved on to the Mitsubishi Diamond 3000 series. In the last quarter of 2021, Envision3 installed the latest addition to the 9 Series family, the RMGT 970, which features a new 25” x 38” sheet size.
*Full year revenue increased 12.9%, up 2.0%, excluding First American, delivering the first full year of reported sales-driven growth in nearly a decade *Consolidated fourth quarter revenue increased 25.5%, up 6.8%, excluding contribution from First American *All four segments delivered year-over-year sales-driven revenue growth in the fourth quarter *Fourth quarter net income was up 10.4% from the third quarter of 2021 and adjusted EBITDA margin was 20.5%, up 120 basis points sequentially from the third quarter of 2021
R.R. Donnelley & Sons Company announced that the unsolicited non-binding and conditional “Alternative Acquisition Proposal” from a strategic party (the “Strategic Party”) to acquire all of the outstanding shares of RRD’s common stock for $11.50 per share in cash has been withdrawn. The Strategic Party did not provide specific reasons for its withdrawal. The Company remains subject to the Chatham Merger Agreement, pursuant to which Chatham will acquire all of the RRD common stock not already owned by affiliates of Chatham for $10.85 per share in cash.
Sun Chemical will increase prices across selected parts of its pigments, dyes and preparations portfolio, effective February 14, 2022 or as contracts allow. The price increase affects all market segments. “We need to take this action due to the current market conditions,” said Stefan Sütterlin, President of Sun Chemical’s Color Materials division. “Sun Chemical values the relationship we have with our business partners, and we remain committed to continuous cost and productivity improvement programs designed to keep our cost drivers under control and provide maximum value to our customers. However, the unprecedented magnitude and speed of increases in materials forces us to pass on higher cost to our customers.”
Sun Chemical will increase prices across its entire portfolio of packaging, commercial sheetfed, and screen inks, coatings, consumables, and adhesives in Europe, Middle East, Africa, effective immediately or as contracts allow. The unprecedented pace of inflationary cost movements continues to impact the entire spectrum of raw material inputs and packaging components for the ink industry, while raw material availability remains an ongoing concern. In addition, the sustained inflation of utilities and the supply/demand dynamics in both the global and regional logistics markets are contributing factors in driving further cost increases. Sun Chemical continues to find ways of mitigating these costs, but the magnitude and speed of cost increases require the company to increase prices to offset impacts to the business.
Financial Summary *$1.78 billion of revenue in Q4, down 7.9 percent year-over-year, or down 7.4 percent in constant currency; $7.04 billion of FY revenue, up 0.2 percent year-over-year, or down 1.4 percent in constant currency. *Q4 and FY GAAP (loss)/earnings per share (EPS) of $(3.97) and $(2.56), down $4.33 and $3.40 year-over-year, respectively. Both Q4 and FY GAAP EPS include an after-tax non-cash goodwill impairment charge of $750 million or $4.38 and $4.08 per share, respectively. *$198 million of operating cash flow in Q4, down $37 million year-over-year; $629 million of FY operating cash flow, up $81 million year-over-year. *$182 million of free cash flow in Q4, down $39 million year-over-year; $561 million of FY free cash flow, up $87 million year-over-year. *Delivered $375 million of targeted 2021 gross cost savings through Project Own It, or $1.8 billion since inception. *Returned more than $1 billion to shareholders, close to double FY 2021 free cash flow.
R.R. Donnelley & Sons Company announced the receipt of an update to the unsolicited non-binding “Alternative Acquisition Proposal”, received from the strategic party (the “Strategic Party,” and such update to the proposal, the “Updated Strategic Party Proposal”) on December 27, 2021. On January 3, 2022, the Strategic Party had indicated to RRD that it was targeting January 21, 2022 for a submission of a binding proposal. In lieu of submitting a binding proposal, the Strategic Party delivered the non-binding Updated Strategic Party Proposal, which provides for the following, among other terms and conditions: *Value: Increases the offered price to $11.50 per share in cash. Previously, the offered price by the Strategic Party was $11.00 per share in cash. *Due Diligence: States that the Strategic Party has substantially completed its financial, legal, tax and other due diligence on RRD and its business. *Committed Financing and Timing: Does not include committed debt and equity financing and states that the Strategic Party requires an additional three weeks to obtain committed financing (February 8, 2022). *Chatham-Related Covenants: Removes the previously included conditions to the execution of the proposed Strategic Party merger agreement that required Chatham to release and dismiss Chatham’s litigation and claims made against RRD, and to vote its shares of RRD common stock to approve the Strategic Party merger agreement. *Non-Binding and Conditional: The Updated Strategic Party Proposal remains non-binding and subject to certain terms and conditions.
The Great Lakes Graphics Association is now accepting nominations for the Second Annual Women in Print Excellence Award. This sought after female-specific award supports our ongoing quest to recognize the contributions of women in the Midwest print, graphic arts, finishing and print packaging community as well as those women who support the print industry in a vendor or supplier capacity. Eligibility : Any woman working directly in print or in a vendor role supporting print who is in good standing with her company in the states of Illinois, Indiana or Wisconsin. Any level or title of employee is eligible. Process: Anyone (female or male) can nominate a candidate by completing the nomination form and emailing it to Debra Warner at email@example.com or faxing it to 262-522-2211. A nomination fee of $30 needs to be included with the nomination form.
TC Transcontinental is proud to have climbed to 16th place on the list of the 100 most sustainable corporations in the world, as unveiled today by Corporate Knights, in addition to ranking first in the packaging industry. This performance represents a significant improvement, whereas last year the corporation ranked 45th in the same category. According to Corporate Knights, TC Transcontinental stood out for its high percentage of clean revenue from the sale of eco-responsible products, its clean investments, and the gender diversity of its Board of Directors and senior management. The Corporation has indeed made several advances in terms of corporate social responsibility (CSR), including: *Expanding its vieVERTe sustainable packaging portfolio, which includes its commercialized compostable, 100% recyclable and post consumer resin product lines *Investing more than $10 million in product research and development (R&D) *Launching the ASTRA Center, composed of four different state-of-the-art R&D labs, located in Menasha, Wisconsin *Achieving 31% women in leadership positions in its Packaging, Printing and Media sectors, exceeding its initial target.
It’s not a major surprise, really, that our 38th annual ranking of the largest printing industry companies in the U.S. and Canada, as ranked by annual sales, is now the 2021 Printing Impressions 300 — and not the Printing Impressions 350 that appeared in 2020. After all, the majority of the graphic arts businesses on our venerable list reported their calendar 2020 annual sales as their most recent fiscal year, with calendar 2019 representing their previous year sales. Given the onslaught, and subsequent shutdowns, of many segments of the U.S. economy beginning in March 2020 due to COVID-19, it’s understandable that CEOs of commercial printing companies were not racing to report their annual sales numbers. And, although the printing industry was ultimately deemed “essential,” many of the vertical markets that these primarily privately-held printing businesses serve were not. Combine that with all the business uncertainty among marketers, brand owners, retailers, and other print buyers, it’s no surprise that many companies appearing on our 2021 list in this issue reported double-digit annual revenue drops.
Flint Group, including all business units within its Packaging and its Commercial Publication & Web divisions, has achieved a Silver status from EcoVadis, the world’s largest and most trusted provider of business sustainability ratings with a global network of over 85,000 rated companies. The company was considered to be in the top 21% of companies rated by EcoVadis in the manufacture of paints, varnishes and similar coatings, including printing inks. It was rated in the top 9% of companies in the Sustainable Procurement category, as well as in the top 7% for Ethics.
Sun Chemical will increase prices across its entire portfolio of packaging, commercial sheetfed and screen inks, coatings, consumables and adhesives in North America, effective immediately or as contracts allow. The unprecedented pace of inflationary cost movements continues to impact the entire spectrum of raw material inputs and packaging components for the ink industry. In addition, the sustained shortage of available labor, along with the supply/demand dynamics in both the global and regional logistics markets, are contributing factors in driving further cost increases. Sun Chemical continues to find ways of mitigating these costs, but the magnitude and speed of cost increases require the company to increase prices to offset impacts to the business.
When defining the outlook for book manufacturing in the year ahead, John Galligan, president of Bradford & Bigelow in Newburyport, Massachusetts, uses an apt analogy considering the topic at hand: “It’s a tale of two cities,” he says. Galligan is referring to the marked difference between the outlook at the beginning of this year to the outlook now, with regard to the ongoing supply chain challenges. In Printing Impressions’ Book Manufacturing Outlook for 2021, demand outstripping supply was already emerging as a leading concern, and as the Book Manufacturers Institute (BMI) published its "State of the Book Industry 2021," Executive Director Matt Baehr commented: “As we move forward, economic and labor trends, along with supply chain issues, will affect our industry greatly.”
R.R. Donnelley & Sons Company has joined the Paperboard Packaging Council (PPC), the North American association for paperboard packaging manufacturers and their suppliers. “We are thrilled to be accepted into the PPC as one of their Principal members,” said Lisa Pruett, President of RRD Packaging Solutions, Forms and Labels. “The leaders in the packaging industry rely on the PPC for research, education, networking, and more; I am certain we will gain great value from our membership that will enhance RRD’s place in the paperboard packaging universe translating to better service to our clients.”
As we close in on two full years of the pandemic, lockdowns, Zoom meetings, and lives lived through screens, experts are finding that digital fatigue has firmly set in. Everyone is looking to make connections that don’t involve the light of a computer, phone, or tablet. Direct mail — a brand’s old and trusted friend — is one of the answers. “Businesses are realizing with digital fatigue that direct mail can play a critical role of getting attention,” notes Jeff Heyman, VP of product development and e-commerce for FedEx Office. “Direct mail is an integral part of the most successful marketing strategies that combine digital and physical communication.” He continues, “Customers are longing for connection after being home for so long and direct mail gives that to them. It allows businesses to communicate that they are open for business, and how they have adapted their business throughout the pandemic.”
Studies show signs give you the biggest bang for your buck. In ancient times, signs were a primary form of communication between merchants and prospective customers. Merchants in Babylon, Egypt, Athens, Pompeii and Rome used signs to identify their shops, promote prices and distinguish their businesses from competitors. In our modern world, signs are so ubiquitous that you probably barely notice they’re there. But signs are crucial to your business’s success. Signs direct customers, remind them of your brand and inspire them to make daily decisions. Research shows that about 90% of information sent to your brain is visual; that’s why imagery is crucial if you want to connect with potential customers. Because humans are visual, custom-made signs communicate powerfully with your audience because they combine attractive color and engaging text to create memorable messages that resonate. Well-designed custom retail signs with stunning graphics increase brand awareness. And the more potential customers who know about your brand, the more they’ll trust your services and the more likely they will purchase from you.
Taylor Corporation announced today the rebranding of three companies acquired over the past two decades to better reflect its “Taylor United” corporate strategy. The three companies are Curtis 1000, a leading provider of commercial print and packaging; Vectra Visual, known for design-forward solutions in retail signage and merchandising; and Optima Graphics, one of the nation’s leading wholesale suppliers to the trade show and event markets. Together, the companies comprise the newly-named Taylor Print & Visual Impressions, Inc., led by enterprise group president Mike Robinson. The newly created group encompasses 2,250 employees, 17 facilities and a diverse range of print capabilities, all supported by marketing, data and analytics designed to optimize the creation of high-impact brand communications and experiences.
The Sustainable Green Printing Partnership (SGP), the leading authority in sustainable printing certifications, announced the election of Birdley James of Miller Zell to its Board of Directors. James is SGP/EHS Coordinator & Compliance Manager and leads Miller Zell’s sustainability efforts. His responsibilities include expanding recycling initiatives, and overseeing sustainability program compliance, SGP certification requirements, environmental & safety compliance audits, environmental safety processes & procedures and safety training.
Specialty Print Communications (SPC) added another milestone on its strategic growth path by acquiring the assets of American Marketing Services & Consultants (AMS). Based in Mundelein, IL, AMS was founded in 1976 and provides a number of mail, letter shop & fulfillment services for companies of all sizes. With an experienced team and state of the art equipment, AMS provides added firepower to SPC’s existing lettershop. “We are excited to have AMS onboard”, stated Adam LeFebvre, SPC President. “We have a long history with AMS and the timing is right for us to make this important investment. Our business has seen dramatic growth in recent years and an expanded lettershop team will help us keep up with client demand.” SPC has retained the entire AMS team and will integrate all lettershop operations within its existing facility in Niles.
Corporate Graphics Commercial, a Taylor Corporation company, is pleased to announce that it has reached an agreement to acquire the assets of Reindl Bindery Co., Inc. of Germantown, Wis. The acquisition of Reindl expands CGC’s capacity and capabilities and offers immediate growth opportunities for its publishing business. “We’re seeing greater demand for bindery services than at any time in our history,” says Dan Kvasnicka, President of Taylor Print Impressions. “By adding the talent and technology of Reindl, we are positioning Taylor to serve even more customers.” Founded in 1978, family-owned Reindl Bindery has a legacy of providing innovative binding solutions throughout the printing industry, with capabilities spanning a wide range of bindery applications including perfect, layflat and case binding to Smyth sewn books, Wire-O systems and more. “We are thrilled to welcome Reindl to the Taylor team,” said Kvasnicka. “Our capabilities are complementary, and both teams are known for industry-leading quality, responsive service and innovation.”
Sun Chemical has acquired SAPICI, a global leading company in high-performance polyurethanes for coatings, flexible packaging, industrial adhesives and more. With SAPICI, Sun Chemical reinforces its integrated supply strategy in the packaging market by adding capabilities to develop and produce unique polymers for the entire portfolio of inks, coatings, and lamination adhesives. The combined resources and technologies of DIC/Sun Chemical and SAPICI will provide a comprehensive and unique polymer portfolio for areas such as industrial coatings, elastomers, industrial adhesives, and sealants.
Plum Grove Inc., an award-winning integrated marketing agency, announced its $4M expansion. The 2021 growth plan includes the relocation of its headquarters to Cary, Illinois, and investment in additional print capacity, including the purchase of a Komori Lithrone 6-Color Offset Printing Press. The expansion comes as the company celebrates its 40th year anniversary. Construction updates on the 43,000 square-foot facility is expected to be completed in October 2021. Located in McHenry County, the new address at 320 Cary Point Drive in Cary, Illinois, is approximately 30 miles from Chicago O’Hare International Airport and 45 miles from downtown Chicago. The building will house Plum Grove’s corporate offices, print production, mailing services, trade show displays, sign shop, pick-and-pack operations, digital marketing, and creative services under one roof with capacity for future growth.
CJK Group, Inc. announced today that it has acquired Tweddle Group, a pre-eminent provider of one-stop product support service to a broad array of global original equipment manufacturers (OEMs). Tweddle is widely recognized as a leader in content development, content management, creative services, and digital, print, and distribution solutions—all supported by state-of-the-art proprietary technologies. At the core of Tweddle Group is a mission to greatly enhance its clients’ end-user experiences, be it simplifying and streamlining user data and access, or applying technology to enhance processes or deliver innovative new solutions. Simply put, Tweddle Group is a catalyst to OEM success; delivering solutions that yield customer retention and growth. With over 500 employees worldwide, Tweddle Group’s Global Headquarters resides in Clinton Township, MI. The company also has offices in Europe and Asia. Tweddle Group Italy is located in Ravenna, with supporting offices in Torino, Modena, and Pozzilli, Tweddle Group Belgium is located in Schelle, Belgium, and Tweddle Group China is located in Shanghai. The company was founded in 1954.
Highlights include: *Revenues were $103.0 million for the quarter compared to $92.4 million for the same quarter last year, an increase of $10.6 million or 11.5%. *Earnings per diluted share for the current quarter were $0.29 compared to $0.32 for the comparative quarter last year, a decrease of 9.4%. *Our gross profit margin for the quarter was 28.4% compared to 30.4% for the comparative quarter last year.
Quad/Graphics, Inc. announced it has completed the sale of its former Oklahoma City, OK, and Fernley, NV, manufacturing facilities to affiliates of Industrial Realty Group, LLC, one of the country’s largest owners of commercial and industrial properties, for combined net proceeds of $58.6 million. Quad will use proceeds from the sale to reduce debt and continue accelerating its competitive position as a marketing solutions partner.
R.R. Donnelley & Sons Company announced the launch of an omnichannel offering designed to meet the nonprofit industry’s need for elevated communications agility that maximizes the value of each touchpoint along the donor-member journey. To support this audience-driven expectation, RRD has mobilized to offer a specialized set of solutions designed to perform as an extension of marketing and business support teams. Initiated by a strategic discovery process, the formation of this solution includes an alignment of the following services: *Creative and content development fueled by Alchemy by RRD℠, a one-stop global creative studio *Full-service digital marketing support led by RRD’s platform-agnostic expertise and long-standing email service provider partnerships *Commercial print and direct mail resources to effectively test and execute highly targeted, event-triggered campaigns
R.R. Donnelley & Sons Company announced that it has entered into a definitive merger agreement to be acquired by affiliates of Chatham Asset Management, LLC, a leading private investment firm, in an all-cash transaction with a total enterprise value of approximately $2.3 billion and total equity value of approximately $897 million. RRD also announced that it has terminated its previously announced merger agreement with affiliates of Atlas Holdings LLC, dated November 3, 2021, pursuant to which affiliates of Atlas had agreed to acquire RRD for $10.35 per share in cash. The termination of the Amended Atlas Merger Agreement follows the decision by Atlas to waive its contractual opportunity through December 16, 2021 to negotiate an amendment of the Amended Atlas Merger Agreement such that the transaction contemplated by the Chatham Merger Agreement would no longer constitute a “Superior Proposal” as defined in the Amended Atlas Merger Agreement.
R.R. Donnelley & Sons Company announced today that its Board of Directors unanimously determined that an unsolicited proposal from Chatham Asset Management, LLC to acquire all of the common stock of the Company not already owned by Chatham and its affiliates for $10.85 per share in cash constitutes a “Superior Proposal” as defined in the Company’s previously announced definitive merger agreement with affiliates of Atlas Holdings LLC, dated as of November 3, 2021, subject to the condition that Chatham agree to extend the Revised Chatham Proposal until 9:05 a.m. CST on Friday, December 17, 2021. If Chatham refuses to agree to the Timing Condition, the Board will deem the Revised Chatham Proposal as withdrawn and incapable of being accepted by the Company. Under the terms of the Amended Agreement, affiliates of Atlas have agreed to acquire the Company for $10.35 per share in cash. “Today’s announcement is a testament to the robust process we have in place to maximize value for all stockholders,” said John C. Pope, Chairman of the Board. “Our Board and management team remain committed to acting in the best interests of RRD and all its stockholders, and will continue to take actions to achieve this objective.”
R.R. Donnelley & Sons Company announced that it has accepted a proposal from affiliates of Atlas Holdings LLC to increase the price per share of their pending acquisition of RRD to $10.35 per share in cash, and has entered into an amendment to its previously announced definitive merger agreement with affiliates of Atlas, dated as of November 3, 2021. Under the terms of the Amended Agreement, RRD stockholders will receive $10.35 in cash for each share of common stock of the Company that they own, representing a premium of 21.5% over $8.52, the price per share of RRD common stock under the Original Agreement. The revised all-cash transaction is valued at a total enterprise value of approximately $2.2 billion and total equity value of approximately $856 million.
Highlights: *Increase in revenues and solid profitability in the Packaging and Printing Sectors for the quarter. *Revenues of $775.8 million for the quarter ended October 31, 2021; operating earnings of $80.5 million; and net earnings attributable to shareholders of the Corporation of $39.2 million ($0.45 per share). *Made significant investments in research and development laboratories with state-of-the-art equipment in the state of Wisconsin, to drive growth and innovation and optimize the creation of sustainable solutions for customers. *Acquired H.S. Crocker on November 1, 2021, broadening the packaging solutions portfolio in the food sector as well as expanding pharmaceutical and medical expertise in the advanced coatings product offering. *Retirement of François Olivier on December 9, 2021 and Peter Brues will assume the position of President and Chief Executive Officer on December 10, 2021.
Moore, a leading constituent experience management (CXM) company, announced the acquisition of Tri-State Envelope, an industry leader specializing in custom envelope manufacturing. With this latest asset purchase, Tri-State Envelope is the fourth envelope manufacturing company Moore has added to its portfolio, along with St. Louis Print Group, Worcester Envelope Company, and its $31 million investment in Richmond Print Group. Based in Ashland, Pennsylvania, with additional manufacturing facilities in Iowa and Maryland, Tri-State Envelope will expand Moore’s supply chain stability through increased capacity, redundancy and location diversification. In its multi-state locations, Tri-State Envelope has the capacity to manufacture 20 million envelopes per day. “Everyone at Tri-State Envelope is very excited about our future as part of Moore,” said Joe O’Donnell, president of Tri-State Envelope. “The envelope manufacturing industry is a critical component in the direct mail business and Tri-State is proud to be on the front lines to provide nonprofits with the materials they need to fundraise for their mission.”
We are extraordinarily proud to announce that Atlantic Printing & Graphics in Tabor City, NC has been officially certified as a Zero Waste facility. This status is verified by Green Business Certification Inc. (GBCI) through their TRUE Zero Waste Certification Program. Atlantic Printing & Graphics achieved this by diverting more than 90% of its waste from the landfill for the most recent 12 months at the time of certification. We are also proud to be the first packaging company to achieve a Zero Waste Certification through the TRUE Program at GBCI. It’s inspiring and incredibly motivating to set this standard and chart the path for ourselves and for the entire packaging supply chain.
Worzalla, an employee-owned book printer specializing in printing high-quality children’s books, movie tie-in books and cookbooks, raised over $50,000 for the United Way of Portage County’s Live United, Give United campaign. Money raised for the campaign will go to United Way programs that help Portage County families in need. “Worzalla associates are good neighbors and are consistently inspired to support the community. Once again, our associates came together to raise funds for the United Way of Portage County,” said Brett O’Sullivan, Worzalla’s United Way Campaign Coordinator. “With a mission of bringing people and resources together to achieve measurable results that improve people’s lives and strengthen our community, the United Way continues to support the new and ongoing challenges the less fortunate face.” To inspire associates to support the campaign, Worzalla ran a giveaway for various prizes like paid time-off, premier parking spots, gift cards, fun prizes, and entry into the Portage County Sweepstakes. Among the nearly 20 winners were Joe Omernik, Diane Landowski and the grand prize winner was Brian Deuel.
Mossberg & Company Inc., a fixture in the region’s printing industry since 1930, has bolstered its capabilities with the recent installation of a Heidelberg XL-106 8-color press. The 41-inch perfecting press, which increases the number of impressions per hour by 3,000, replaces two of Mossberg’s presses while increasing productivity and reducing overall setup time. It also frees up space in Mossberg’s manufacturing facility, allowing for future technological advances. Mossberg has served the printing, distribution and marketing needs of customers from an array of industries, including health care, consumer products, higher education, retail, tourism and craft beverages. The company employs approximately 110 professionals and has sales representation in South Bend, Indianapolis and Michigan.
R.R. Donnelley & Sons Company announced that its Board of Directors unanimously determined that an unsolicited proposal from Chatham Asset Management, LLC to acquire all of the common stock of the Company not already owned by Chatham and its affiliates for $10.25 per share in cash (the “Chatham Proposal”) constitutes a “Superior Proposal” as defined in the Company’s previously announced definitive merger agreement with affiliates of Atlas Holdings LLC, dated as of November 3, 2021. Under the terms of the Atlas Merger Agreement, affiliates of Atlas have agreed to acquire the Company for $8.52 per share in cash. RRD has notified Atlas of the Board’s determination that the Chatham Proposal constitutes a Superior Proposal and that RRD intends to terminate the Atlas Merger Agreement for the purpose of entering into a definitive merger agreement with affiliates of Chatham.
R.R. Donnelley & Sons Company announced that it has received a proposal from Chatham Asset Management, LLC to acquire all of the outstanding shares of RRD not already owned by Chatham for $10.25 per share in cash. The RRD Board of Directors, consistent with its fiduciary duties and in accordance with the terms of its definitive merger agreement with affiliates of Atlas Holdings LLC, dated as of November 3, 2021, will carefully review and consider the Revised Chatham Proposal to determine the course of action that it believes is in the best interests of the Company and RRD shareholders. RRD shareholders do not need to take any action at this time and the Board has not yet made any determination with respect to the Revised Chatham Proposal.
R.R. Donnelley & Sons Company announced the expiration of the “go-shop” period set forth in the previously announced definitive merger agreement with affiliates of Atlas Holdings LLC, dated as of November 3, 2021, the receipt of an “Alternative Acquisition Proposal” as defined in the Atlas Merger Agreement and further developments with respect to a previously announced proposal from Chatham Asset Management, LLC. Under the terms of the Atlas Merger Agreement, affiliates of Atlas have agreed to acquire the Company for $8.52 per share in cash. As previously announced, RRD received an unsolicited proposal from Chatham on November 16, 2021 to acquire all of the outstanding shares of RRD not already owned by Chatham for $9.10 per share in cash, and thereafter the Company has been engaged in negotiations with Chatham regarding the terms and conditions of the Chatham Proposal. In addition, on November 27, 2021 and as part of its “go-shop” process, RRD received an Alternative Acquisition Proposal from a strategic party for $10.00 per share in cash, subject to other terms and conditions (the “Go-Shop Proposal”). On November 28, 2021, the Board of Directors of the Company determined, in good faith after consultation with its outside financial advisor and legal counsel, that each of the Chatham Proposal and Go-Shop Proposal would reasonably be expected to lead to a “Superior Proposal” (as defined in the Atlas Merger Agreement), thereby making each of Chatham and such strategic party an “Excluded Party” under the terms of the Atlas Merger Agreement. At this time, the Board has not determined that the Chatham Proposal or the Go-Shop Proposal constitutes a Superior Proposal, and there can be no assurances that a transaction will result from either proposal or that any alternative transaction will be entered into or consummated.
CJK Group, Inc. announced that it has acquired publishing consultancy and editorial services provider, Kaufman Wills Fusting & Company (KWF) and integrated it with its existing, comprehensive content solutions subsidiary, KnowledgeWorks Global Ltd. (KGL). Based in Baltimore, MD, and employing 99 people, KWF Consulting and sister company KWF Editorial are leading providers of management consulting support and professional editorial services to the scholarly publishing community. KWF Consulting advises clients on strategic planning, new product development, market research, and RFP negotiations. KWF Editorial provides professional staffing solutions for journal editorial office management, peer review services, and editor support.
HP Inc. and IWCO Direct announced a strategic agreement for the supply of a fleet of HP PageWide Web Presses to drive the market for data-driven marketing communications solutions. The multi-million-dollar investment by IWCO Direct in seven high-volume HP PageWide Web Presses is the cornerstone of a $50 million investment being made by the company to continue to grow their performance marketing business using primarily HP digital printing by 2023. The presses deliver next-level inkjet color quality and speed for a wide range of direct mail applications across a broad range of substrates such as letters, postcards, catalogs, and folded mailers. “The HP technology upgrades our data-driven performance marketing services to maximize the return on marketing investment (ROMI) for our clients, which is critical in today’s climate. Our clients value the effectiveness of direct mail, but want to produce it faster and integrate it with companion channels, so they can reach their recipients more quickly with personalized, relevant messages,” said John Ashe, CEO of IWCO Direct.
The American Veterinary Medical Association (AVMA) has launched a new portal on KGL PubFactory, a division of KnowledgeWorks Global Ltd. (KGL), for its two influential peer-reviewed journals, the flagship Journal of the American Veterinary Medical Association (JAVMA) as well as the American Journal of Veterinary Research (AJVR). The result of a rapid, six-month migration that included the conversion of over 13,000 archive articles dating back to 2000, the new site at avmajournals.avma.org supports single-sign-on for Association members, and ecommerce through AVMA’s webshop via integration with the Aptify membership management platform. In addition to online hosting, AVMA is now using KGL content services for automated copyediting, composition, and electronic deliverables; and sister-company Sheridan for printing of the two journals.
Worzalla CEO and President Jim Fetherston was awarded the Signature Award at the Book Manufacturers’ Institute’s Fall Annual Conference. The Book Manufacturers’ Institute (BMI), a nationally recognized trade association representing the book manufacturing industry, created the Signature Award to recognize BMI members who have made a valued contribution to the welfare of the industry through the display of superior leadership qualities. The Signature Award, awarded only when the BMI board of directors identifies worthy candidates, has just 44 recipients in BMI’s 90-year history. “While there have been ups and downs for U.S. book printers during the last few decades, we have all learned one truth: the printed book is not dead and, in fact, is thriving,” said Fetherston. “It has been a privilege to help lead our industry to the fruitful landscape that we are experiencing today. I humbly accept the Book Manufacturers’ Institute’s Signature Award on behalf of all our industry partners who trust us to get the job done and the many people on the ground responsible for making each and every book that we are sending to bookshelves, libraries, schools, and homes across the country.”
Nahan announced that it has expanded its digital printing platform with the addition of the ProStream 1800, manufactured by Canon Solutions America. “This state-of-the-art continuous feed inkjet press will enable Nahan to deliver highly targeted and personalized print at exceptional speeds with award-winning quality and flexibility, unlike anything we’ve seen,” said Nahan CEO Mike Ertel. With the ability to produce over 62 million letter impressions per month, the ProStream will increase Nahan’s overall capacity, while reducing production cycle times and enabling faster speed to market for its clients. Setting a new benchmark for inkjet quality, the ProStream1800 provides a color gamut beyond offset standards on most papers. At full speed, the ProStream leverages 1,200 dpi resolution with Canon multi-level ink drop size modulation for smooth shadings, striking details in dark tones, and sharp fonts. The ProStream allows for flexibility across a wide range of media, including standard offset coated, uncoated, and inkjet optimized papers from 40gsm to 300gsm. This will allow Nahan to efficiently produce a wider range of formats than ever before, from premium direct mail, to catalogs, self-mailers, and more. Another compelling feature of the ProStream is that it can produce fully variable 4-color catalog covers in-stream – a new and unique advance in capabilities for Nahan.
Convergence in the printing industry — the process by which print segments come together through print service providers (PSPs) expanding into segments beyond their primary segment — is a phenomenon that has been occurring for many years. In 2018, NAPCO Research and PRINTING United Alliance conducted the first printing industry convergence study. The analysis of commercial, in-plant, packaging, wide-format, garment, and industrial PSPs validated the convergence phenomenon, assessed the degree to which it is occurring, measured attitudinal beliefs as to convergence trends, and defined a printing industry migration pattern. Download the convergence study at: https://piworld.tradepub.com/free/w_hp496/
R.R. Donnelley & Sons Company on November 3, 2021 announced it entered into a definitive merger agreement to be acquired by affiliates of Atlas Holdings LLC for $8.52 per share in cash for each share of RRD common stock. RRD announced on 11/16/2021 that it has received a proposal from Chatham Asset Management, LLC to acquire all of the outstanding shares of RRD not already owned by Chatham for $9.10 per share in cash. The RRD Board of Directors, consistent with its fiduciary duties and in accordance with the terms of its merger agreement with Atlas, will carefully review and consider the Revised Proposal to determine the course of action that it believes is in the best interests of the Company and RRD shareholders. RRD shareholders do not need to take any action at this time and the RRD Board of Directors has not yet made any determination with respect to the Revised Proposal. Centerview Partners LLC is serving as financial advisor and Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal advisor to RRD.
The print and paper advocacy group Two Sides are excited to announce its newest member, one of the leading book printers in the UK, Print On Demand Worldwide. Quality is at the heart of Print On Demand Worldwide – it is the backbone of the business, from investing in the latest high-tech printers bringing a true on-demand service for customers, to customer service that ensures a bespoke service for all. “Print On Demand Worldwide are delighted to become a member of Two Sides. We believe in being green and working towards an environmentally conscious printing future. We’ve won many awards for our environmental flair over the years and, by using Two Sides’ materials and research, we look forward to promoting the sustainable story of print media and enhancing our own sustainability story even further,” says Andy Cork, Managing Director for Print On Demand Worldwide.
The Sustainable Green Printing Partnership (SGP), the leading authority in sustainable printing certifications, announced today the release of version 4.0 revised criteria of its sustainability certification which was first established in 2008. The new criteria which will be effective Jan. 1, 2022, maintain a focus on the three pillars – societal, economic, and environmental – through the development, implementation and documentation of a robust sustainability management system (SMS) and series of best practices. Revised every five years, SGP’s certification criteria establishes certified facilities as leaders in the sustainable supply chain for print and related supplies. The SGP Board of Directors approved version 4.0 which further streamlines the criteria, as well as includes provisions pushing the circular economy model. With a circular approach, the certification makes SGP facilities one of the strongest parts of a sustainable supply chain. Criteria focus on validation and documentation of operational metrics help facilities contribute to their customers’ sustainability goals.
Supremex Inc. a leading North American manufacturer and marketer of envelopes and a growing provider of paper-based packaging solutions, announced its results for the third quarter ended September 30, 2021. Third Quarter Financial Highlights and Recent Events * Total revenue increased by 9.9% to $54.8 million, from $49.9 million in the third quarter of 2020. * Envelope segment revenue was up 8.5% to $37.0 million, from $34.1 million in the third quarter of 2020. Packaging and specialty products segment revenue increased by 12.8% to $17.8 million, from $15.8 million in the third quarter of 2020. * Net Earnings at $3.4 million (or $0.12 per share), up from $2.7 million (or $0.10 per share) in the third quarter of 2020. * Purchased 292,400 shares for total consideration of $0.7 million as part of the Company’s NCIB program.
R.R. Donnelley & Sons Company announced the relaunch of its suite of global creative services under a new name: Alchemy by RRD℠. This relaunch aims to reinforce RRD’s commitment to elevating brand experiences through its creative augmentation and customized brand activation services. As one of three pillars that make up RRD GO Creative℠, Alchemy by RRD is a global creative studio and branding partner that can provide localized, personalized content and design across all touchpoints. The remaining pillars that form RRD GO Creative are Smart Work Solutions (AI-enabled solutions to digitize business processes) and The_Loft@RRD (a collaborative, data-driven innovation hub to advance long-term strategies). The creative solutions and services that make up Alchemy by RRD include: Branding execution and adaptation; Video and motion graphics; Strategic content development and editorial services; Web and microsite design and development; Digital marketing and marketing automation; Immersive and interactive experiences; E-learning services; Accessibility
Copresco is upgrading its digital fleet with a second Konica-Minolta 6136P press to meet increased production demands and guarantees for fast turnaround and on-time delivery. The twin of the 6136P that was installed in late 2020 meets the same standards for Copresco’s high volume production and provides exceptional black & white print reproduction. “The people at Konica-Minolta are amazed by Copresco’s demanding quality standards and commitment to maintain our Copies Overnight promise of producing 250,000 pages overnight for any client,” says President Steve Johnson. “We have fine-tuned the new press to assure that our large-scale black & white printing matches Copresco’s award-winning color work.”
*Revenue for the third quarter was $92.6 million higher than the previous year. Not including the First American acquisition, which closed on June 1, 2021, revenue increased $10.1 million, or 2.3% year-over-year. *The Payments segment delivered revenue growth of 114.6% over the previous year to $160.3 million, $82.5 million of which was from First American. *Net income of $12.5 million includes $11.9 million in acquisition amortization from the First American acquisition, as well as increased interest expense associated with the transaction. *Cash flow from operations for the third quarter was $65.4 million and capital expenditures were $34.5 million. Free cash flow, defined as cash provided by operating activities less capital expenditures, was $30.9 million, an increase of $11.6 million from the second quarter of 2021, and a decrease of $10.7 million compared to the third quarter of 2020, largely attributable to capital investments this year. *Total debt outstanding decreased from $1,833.4 million as of June 30, 2021 to $1,776.2 million as of September 30, 2021. Net debt was $1,655.1 million and liquidity was $433.6 million as of September 30, 2021.
Sun Chemical today announced an innovative new range of durable UV varnishes for enhancing the label resistance of HP Indigo digitally printed pressure-sensitive labels for products such as personal care, household, chemical, beverage, and pharma applications. The new range of varnishes was specifically formulated to provide adhesion to HP Indigo ElectroInk and has been designed to provide high levels of mechanical durability on HP Indigo printed labels. Furthermore, the solution delivers mechanical, chemical, water and thermal resistance withstanding vigorous bottle-to-bottle scuffing test, making the range the ideal choice for ensuring high durability, and in some instances offering a cost-effective and benefit from sustainability advantages alternative to cumbersome lamination processes. The new varnishes promote cross-linking with the HP Indigo ElectroInk and the primer layer to deliver improved physical properties and high durability in challenging applications. The new set of varnishes are a press-ready solution and do not require the addition of any press-side additives for ease of use. Ensuring consistent durable labels time after time, the range can be printed using standard UV coating equipment.
Hudson Printing of Salt Lake City, the high-quality commercial printing operation known for superior color reproduction, is now home to a new Landa S10P Nanographic Printing® Press. Installation is in progress. “Quality is paramount around here,” CEO Paul Hudson says. “Our customers will not compromise on color – it’s what we’re known for.” The Landa S10P’s unique, expanded color gamut; better economics; and higher productivity made Hudson’s decision to choose the S10P press a straightforward one. The 7-color Landa S10P will reproduce 96% of Pantone colors. “The S10P checked all of our boxes,” Paul Hudson says. “We needed the speed, the B1 format, and the best color available. Over time it became clear that Landa’s advantages are better by orders of magnitude.”
R.R. Donnelley & Sons Company announced that it has entered into a definitive merger agreement to be acquired by affiliates of Atlas Holdings LLC (“Atlas”), which operates a global family of manufacturing and distribution businesses, in an all-cash transaction with a total enterprise value of approximately $2.1 billion. The merger agreement has been unanimously approved by RRD’s board of directors. Under the terms of the merger agreement, Atlas will acquire all of the outstanding shares of RRD common stock, and RRD stockholders will receive $8.52 per share in cash for each share of RRD common stock. The purchase price represents a premium of approximately 29.1 percent over RRD’s closing price on November 2, 2021, approximately 72.8 percent over RRD’s closing share price on October 11, 2021, the last trading day prior to the announcement of a non-binding offer by Chatham Asset Management, LLC, and a premium of approximately 64.1 percent over RRD’s 60-day volume weighted average price for the period ended October 11, 2021.
Q3 Key messages *GAAP net sales, including the impact of foreign exchange, increased 6.4%; Non-GAAP organic net sales increased 5.5%; largely driven by strengthening demand for many of the Company’s products and services *GAAP and Non-GAAP income from operations exceeded prior year; both benefitted from higher sales and strong cost management despite supply chain challenges and inflation *GAAP operating margin improved 450 bps while Non-GAAP improved by 20 bps *GAAP earnings per share from continuing operations of $0.38 and Non-GAAP adjusted earnings per share from continuing operations of $0.57, both improved significantly from prior year *Cash used in operating activities during the nine months ended September 30, 2021 was $29 million compared to cash provided by operating activities of $25 million in the prior year period; current year results reflect working capital investments due to increased volume and inflation in addition to $33 million paid earlier this year to settle LSC bankruptcy-related claims and terminate certain interest rate swap agreements *Gross leverage ratio of 3.7x improved 1.0x from September 30, 2020; net leverage ratio of 3.2x improved 0.5x from the same period last year
Recent Highlights *Increased net sales by 4%, with 7% organic growth (excluding the divestiture of the Company’s third-party logistics business), from third quarter 2020 driven by higher print volumes, including print segment share gains from new clients, as well as a continued positive trend in Agency Solutions net sales. *Increased net earnings from continuing operations by $12 million to $14 million during the third quarter of 2021 as compared to 2020. *Achieved a 6% increase in Adjusted EBITDA to $64 million during the third quarter of 2021 as compared to 2020. *Reduced net debt by $140 million or 15% over the past 12 months. *Reaffirms full-year financial outlook for 2021 Net Sales, Adjusted EBITDA and Debt Leverage. *Amends and extends $1 billion bank debt agreement to November 2026.
CJK Group, Inc. announced that it has completed an agreement to acquire the assets of Times Printing, LLC in Random Lake, Wisconsin. Previously owned and operated as part of Nicholas Karabots’ Kappa Media Group of affiliated companies, the 324,000 sq. ft. print facility specializes in high quality 4-color printing of magazines, catalogs, and a wide spectrum of commercial print products. Times Printing capably serves the retail, consumer, and special interest markets, including B2B, travel and leisure, comics, and fundraising industries. The facility handles a variety of finish sizes, including digest, tabloid, slim jim, and oblong. Web and sheetfed presses accommodate long runs, short runs, and short cut-off work, heat set processes, and complex versioning and fulfillment. The facility offers full mailing and logistics services including co-mail, co-mingle, bound printed matter, and drop ship mailing. This acquisition will bring additional services and capabilities to the Sheridan companies, while giving Sheridan access to new markets. Organizationally, the plant will be recognized under the Sheridan brand, to be known as Sheridan Random Lake.
Ennis, Inc. would like to announce the rebranding initiative of Independent Folders, a trade print solutions expert specializing in the highest-quality printed presentation products, large format, packaging and business check products. The company will now be referred to as Independent Printing & Packaging to encompass its ever-growing packaging capabilities. Independent Printing & Packaging began in a small shop in De Pere, WI during pre-war 1935 and specialized in printing handbills, business forms, invitations, business cards and other items for local business owners. In 1992, it expanded its services to a national level by joining trade associations and selling standard products through qualified print distributors. The company then rebranded as Independent Folders in 2012 in an effort to differentiate from local print shops serviced through the distributor channel.
Following the successful launch of its AQUACode range of products in 2019, Flint Group Packaging Inks continues to develop new solutions for Paper & Board applications to meet and exceed the needs of global packaging markets. Paul Winstanley, Senior Director of Technology & Innovation for Flint Group Paper & Board Europe, comments: “We recognise that through new brand owner designs, changes to consumer behaviour, and the push to improve the sustainability credentials of the packaging market, continued development is critical to support our customers’ ambitions and product strategies. This is why we are so pleased to confirm the success of our AQUACode range of products for a wide range of water-based packaging applications.
The Sustainable Green Printing Partnership (SGP), the leading authority in sustainable printing certifications, announced today Polaris Direct as the newest certified SGP Facility. “What I like about SGP certification is it creates a culture around sustainability,” said John Strand, director of operations. “It’s not just three or four of us deciding procedures – it encourages you to get other people involved, and you can’t create a culture of sustainability unless everybody’s in on it.” Located in Hooksett, New Hampshire, Polaris Direct is a direct marketing and printing company with many Fortune 500 customers. Founded nearly 20 years ago, the company is guided by innovative thinking and client-based problem solving.
Following multiple reports from Intergraf’s member companies of sudden and significant energy surcharges imposed by their paper suppliers, we call for an open and transparent dialogue to de-escalate tensions. Such dialogue is essential to ensure good business relations between our two closely linked industries. European printing companies are shocked following the application of unannounced energy surcharges by paper suppliers across Europe. In the last few days, numerous companies are reporting to Intergraf’s national member associations about letters received from many different paper suppliers imposing energy surcharges with immediate effect – irrespective of the date of order, i.e. on already agreed delivery contracts. Intergraf and our members are concerned about this unsustainable increase, which we find contrary to any conventional commercial practice or trustworthy business relation.
R.R. Donnelley & Sons Company was recognized by Hormel Foods Corporation with a 2020 Spirit of Excellence Award, celebrating RRD’s outstanding labeling work for the global branded food company. “It’s an honor to be recognized by Hormel Foods as one of their top business partners throughout a very trying year,” said Lisa Pruett, President of RRD Packaging Solutions, Forms and Labels. “We are proud to be a dependable supplier to Hormel Foods, servicing the company with high-quality labels with no out of stock SKUs last year — a distinguished accomplishment in light of the unprecedented material shortages and supply chain challenges.” RRD has been working with Hormel Foods for more than 20 years, producing more than 250 million labels annually that are used across the company’s product portfolio at upwards of 20 plant locations. RRD primarily manages the labels used in the branded food company’s operational units.
Financial Summary *$1.76 billion of revenue, down 0.5 percent year-over-year or down 1.6 percent in constant currency. *GAAP earnings per share (EPS) of $0.48, up $0.07 year-over-year, and adjusted EPS of $0.48, flat year-over-year. *$100 million of operating cash flow, down $6 million year-over-year. *Reduced FY21 revenue guidance to approximately $7.1 billion in actual currency ($7.0 billion in constant currency). Reaffirmed free cash flow guidance of at least $500 million. *Completed expected $500 million of buybacks for 2021; Board approves an additional $500 million share repurchase program to be used opportunistically.
The Sustainable Green Printing Partnership (SGP), the leading authority in sustainable printing certifications, announced today certification of all four Shutterfly manufacturing facilities. Shutterfly in Ft. Mill, SC was the first to obtain certification in late 2020. Since then, the remaining locations in Plano, TX, Shakopee, MN, and Tempe, AZ achieved certified SGP Facility status. “At Shutterfly, we are taking action to reduce our impact and make sustainable practices become habit in our operations,” said Dwayne Black, chief of operations, Shutterfly. “We are finding ways to become more energy-efficient, reuse, repurpose and recycle more and use less. Becoming SGP certified validates that we have created a successful foundation for delivering a great customer experience while doing better for the planet.” “Shutterfly’s commitment to sustainable print operations cannot be overstated. We are pleased to welcome all four manufacturing facilities into the SGP Community,” said Jonathan Graham, SGP chair and TE Connectivity representative. “As the leading online platform for photography and personalized products, Shutterfly furthers its leadership and commitment to a sustainable future. This is a milestone for SGP and Shutterfly as we are committed to leaving our world in a better place.”
KnowledgeWorks Global Learning (KGL), the comprehensive learning strategy and solutions provider, has partnered with digital training studio, Elearning Design Center (ELDC) to offer new virtual reality learning solutions using its leading immersive technologies. The partnership will augment KGL’s experiential learning technologies and full-service portfolio while enabling ELDC to expand into new industries. ELDC helps educators, online schools, and corporate learning academies solve real-world problems by creating active and engaging online learning that aids core skill development through immersive experiences and digital technology. Based in New Hudson, Michigan, the company designs photorealistic virtual environments, AI-based virtual humans, 3D demonstrations, and next-generation XR solutions that give life to elearning and simulate real-world experiences.
Sun Chemical has launched Xennia® Pearl pigment inks for high-speed industrial applications during Innovate 2021 Textile Innovation Week. The range, which includes inks for both mid-viscosity and high-viscosity printheads, has been developed following a careful assessment of the market and specific customer needs, particularly the requirement for high fastness, multi-substrate compatibility, consistent color, and outstanding print performance. As well as addressing core market needs in terms of performance, the range also underlines Sun Chemical’s commitment to sustainability in the textiles industry – offering textile printers a way to significantly reduce water use and chemical waste. Based on proprietary pigments and resins, the inks will support the key application areas of fashion and home textiles – two sectors which are rapidly embracing digital pigment printing, both for the flexibility it offers, and for the huge sustainability benefits it brings.
As a high-volume direct mail producer, Johnson & Quin, which was founded in 1876 (making it the oldest company among this group of innovators), made a profound switch to high-speed inkjet printing in 2019. That change — to three Screen color inkjet systems — reports VP and Principal Andrew Henkel, was precipitated by the fact the company’s clients had accepted color digital output and were happy with the results. “It felt like a leap of faith,” says Bob Arkema, the company’s executive VP, “but it seemed like an inevitability. We could take advantage of being early inkjet adopters, or wait until we were forced to [invest]. It felt riskier not to do it.” To keep up with its three high-speed inkjet lines, Johnson & Quin has also been investing heavily, primarily in inserting systems. “Johnson & Quin, is using continuous-feed inkjet mainly for mid-level-priced, good clients, such as cell phone providers, etc.,” points out Marco Boer, VP of IT Strategies. “They are using software to optimize postal discounts and delivery response to the most efficient levels possible, often pre-sorting at the print level to get the highest postage discounts.” The company’s 100% color inkjet approach makes them stand out in the direct mail space.
R.R. Donnelley & Sons Company announced that it has received an unsolicited proposal from Chatham Asset Management, LLC ("Chatham") to acquire all of the outstanding shares of RRD for $7.50 per share in cash. Consistent with its fiduciary duties, and in consultation with its independent financial and legal advisors, the RRD Board of Directors will carefully review and consider the Chatham proposal to determine the course of action that it believes is in the best interests of the Company and RRD shareholders. RRD shareholders do not need to take any action at this time.
The Sustainable Green Printing Partnership (SGP), the leading certification authority in sustainable printing, announced today the support of EFI in its sustainability mission as a gold SGP Patron. EFI joins other patrons, SGP certified facilities, brands, academic institutions, NGOs and associations in the SGP Community. “EFI is proud to support the very important work SGP does in our industry,” said Ken Hanulec, vice president of worldwide marketing, EFI. “With our portfolio of solutions and programs, from digital front end and integrated workflows that significantly reduce material waste to carbon offset reforestation solutions included with single-pass inkjet printers to UV LED superwide-format innovations that significantly reduce energy usage, EFI is a firm believer in SGP’s mission to promote and advance the sustainability of print.”
Quad/Graphics, Inc. announced it will promote Dave Honan to Chief Operating Officer from Chief Financial Officer, and Tony Staniak to Chief Financial Officer from Vice President of Finance. This announcement, part of a planned executive transition process, precedes the retirement of current Chief Operating Officer Tom Frankowski, who will depart Quad on December 31, 2021, after a 42-year career with the Company. “Quad has incredible bench strength on our executive leadership team to continue driving forward our growth and success as a marketing solutions partner,” said Joel Quadracci, Quad Chairman, President & CEO. “Over the past many years, Dave Honan has been deeply involved in developing and guiding our remarkable transformation strategy. He led the design of our capital structure and corporate development activity that positively shaped our transformation and put us in a position of increased strength. In his new role, Dave will draw on his previous operations experience in the manufacturing and service industries. He will focus on connecting our entire operational organization to take advantage of the momentum building in our Sales and Marketing efforts. I look forward to Dave’s leadership and contributions, especially in bringing together our people, processes and products to drive performance. He recognizes the key drivers of success for our business, which include engaging and retaining employees, and perpetually innovating to drive top-line revenue and productivity enhancements across our entire integrated platform. Through our continued partnership I am certain we will create a better way for all our stakeholders.”
The storied C.J. Krehbiel Company (dba as CJK Print Possibilities), has been acquired by BR Printers of San Jose, California. Established in 1872, the fifth generation business owned by the Krehbiel family, has a long history of providing a personal touch to the printing, binding and mailing of four-color bound documents such as books, catalogs, manuals, weeklies and magazines. “CJK’s print and finishing capabilities extend and complement BR’s digitally enabled book manufacturing platform,” says Adam DeMaestri, President and CEO of BR Printers. “We look forward to collaborating with CJK leadership and employees.”
In today’s printing industry, the concept of innovation is wide in definition, but rather narrow in its goal. Leading companies have grasped many tools to define themselves, increase profitability, and differentiate. They utilize new technologies, systems integration, an expanded product mix, exemplary customer service, and more. As a group, the eight companies included in the 2021 class of Printing Impressions’ Innovators of the Year demonstrate new approaches that can move printing businesses forward and possess strong insight into where the industry is going. Even amid the challenges presented by the COVID-19 pandemic, these companies succeed, grow, focus, and inspire. This year’s innovators were nominated by a group of printing industry experts and consultants, who identified them as notables. The summary of Heeter that follows shares what makes theis company innovative, interesting, and exceptional. The insight it presents may provide the inspiration you need to take your company to a new level, or in a new direction. read the full article at: https://www.piworld.com/article/2021-innovator-year-heeter-customer-achieve-roi/
By joining the international alliance 4evergreen, Heidelberger Druckmaschinen AG (Heidelberg) is affirming it is fully committed to environmentally friendly products and technologies. Handling natural resources sustainably and continuously improving circularity, that is to say the circular economy, are key concerns in the growing packaging segment . Consumer demand for sustainable and fiber-based packaging solutions is increasing further still. As a leading partner of the folding carton industry, Heidelberg therefore supports the 4evergreen alliance’s holistic approach throughout the value chain for climate-friendly, green packaging in an enhanced circular economy. “Environmental protection and sustainability are global issues that are also becoming increasingly important in the print media industry,” says Heidelberg CEO Rainer Hundsdörfer. “For many years, Heidelberg has been promoting environmental and sustainability initiatives when developing and manufacturing machinery and units. We are also looking to drive forward and further improve options in terms of recyclability and the use of resources during production in the growing packaging segment,” he adds.
RRD is an industry leading marketing and business communications company with a well-defined strategy focused on creating long-term stakeholder value. Through the focused execution of its three strategic priorities – to strengthen core performance, drive revenue growth through higher value offerings, and improve financial flexibility – RRD is well positioned for the future. As described in its August 2, 2021 press release, RRD has delivered solid results over the last two years and through Friday, September 24, 2021, has delivered 67.8% in total stockholder return vs. pre-COVID period (assumes February 20, 2020) and has outperformed the average return of Russell 3,000 companies, which delivered a total stockholder return of 37.0% during the same period. Since the spin in 2016, RRD has made strategic investments to drive profitable growth, divested non-core businesses, and proactively improved its balance sheet. In 2020, the Company expanded its technology solutions portfolio and introduced new products that enable its clients to simplify complexity, reduce costs, and enhance the effectiveness of their communications. The Company also invested to increase production capacity in its core growth businesses, including labels and packaging, where RRD has delivered sales growth in each of the last five quarters, including double-digit organic sales growth in the second quarter of 2021. In addition, at the end of 2020, RRD reported its lowest gross and net leverage levels since the spin.
Founded in Debrecen in 1952, the Hungarian folding carton manufacturer Kartonpack Dobozipari Nyrt. (Kartonpack) currently employs over 100 staff. With its 70 years of experience in the printing and packaging industry, Kartonpack is one of Hungary’s leading packaging printers. Working in close collaboration with its customers and over 200 suppliers, the company makes packaging for local and multinational pharmaceutical businesses, the cosmetics sector, and the food industry. Kartonpack’s services cover the entire value chain – from structural and graphic design, printing, and die cutting all the way through to the finished folding carton. The company exports its products to Austria, Belgium, Germany, Romania, and Russia. Even though Hungary’s economy has been hard hit by the COVID-19 pandemic, Kartonpack decided to invest in the new Speedmaster CX 104 from Heidelberger Druckmaschinen AG (Heidelberg) as a pilot user, with a view to further boosting the efficiency of its production processes. The market’s response to this sign of strength and confidence has been entirely positive, and the company reports that it has been able to adjust capacities in recent months and boost volumes.
Sun Chemical has launched its Streamline TVL 2 ink series to support the sign, display and graphics market for use with Roland’s SG2 and VG2 range of eco-solvent inkjet printers. The Streamline TVL 2 ink series is a fully color-matched CMYK, Lc, Lm and Lk ink series supplied in 500ml pouches which are fully mixable with Roland TR2 ink series, enabling a simple and fast transition to Streamline TVL 2 inks. Formulated with Sun Chemical’s low odor chemistry, the Streamline TVL 2 ink series is Greenguard Gold certified for low indoor emissions. In addition, Streamline TVL 2 inks are GBL free, ensuring full regulatory compliance for sales in all regions across the world.
The Board of Directors of Transcontinental Inc. announces that François Olivier will retire from the Company. He will be leaving his functions on December 9, 2021, after 28 years with the Company, including 13 years as President and Chief Executive Officer. Peter Brues, a member of Transcontinental’s Board of Directors since 2018 and Chair of the Audit Committee, will succeed him as President and Chief Executive Officer. Mr. Brues will join the organization as of November 1st and will work with François Olivier during a transition period. He will officially assume his duties on December 10th. Mr. Brues’s appointment is the culmination of a rigorous succession planning process led by the Company’s Human Resources and Compensation Committee. “The Board of Directors wishes to acknowledge the exceptional contribution of François Olivier to Transcontinental and to highlight his remarkable career that featured many strategic and significant achievements for Transcontinental,” said Isabelle Marcoux, Chair of the Board of Directors. “His innovative vision, decisive leadership and business skills have helped propel Transcontinental to its position as a leading flexible packaging company in North America and the largest printer in Canada. We sincerely thank François for his invaluable contribution to the growth, diversification and transformation of Transcontinental over the years.”
The Company’s revenues for the second quarter ended August 31, 2021 were $100.5 million compared to $86.6 million for the same quarter last year, an increase of $13.9 million, or 16.0%. Gross profit margin was $28.9 million, or 28.8%, as compared to $25.2 million, or 29.0%, for the same quarter last year. Net earnings for the quarter were $7.5 million, as compared to $6.4 million, for the same quarter last year. The Company’s revenues for the six-month period ended August 31, 2021 were $197.4 million compared to $175.6 million for the same period last year, an increase of $21.8 million or 12.4%. Gross profit margin was $58.1 million, or 29.4%, as compared to $49.1 million, or 27.9% for the six-month periods ended August 31, 2021 and August 31, 2020, respectively. Net earnings for the six-month period ended August 31, 2021 were $14.8 million, compared to $10.6 million for the same period last year, an increase of $4.2 million.
Flint Group Narrow Web introduces two UV-flexo coating products to improve the recyclability for shrink sleeves and pressure sensitive labels. These coatings are currently available in North America and will soon be available in Europe and other regions. Using different chemistries, the Evolution Deinking Primer, for shrink sleeves, and the Evolution Caustic Resistant Over Print Varnish (OPV), for self-adhesive labels, are designed to increase the yield of material in the recycling process. Both coatings have been recognized by the Association of Plastic Recyclers to comply with the critical guidance for PET packaging. The Evolution Deinking Primer is a coating used on shrink sleeve materials that makes the ink release in the caustic bath of the recycling process. When used with crystallizable polyester shrink sleeve material (CPET), the primer keeps the ink anchored to the substrate through the usable life of the sleeve, but releases it in the caustic bath. The ink is removed from the sleeve material without contaminating the valuable bottle flake. The materials are then rinsed and pelletized into recycled polyester (rPET) for reuse.
September 2021: Flint Group Packaging Inks has announced the launch of a new innovative concentrate technology designed to solve many of the efficiency challenges faced by today’s Flexible Packaging converter. Part of the company’s recently announced ONECode solvent-based ink and coating range in Europe, Flint Group’s Universal Bases are designed to be utilised for surface, medium, and high-performance lamination flexible packaging printing, including sterilisation work. Flint Group is extremely excited to offer this portfolio of multi-functional nitrocellulose-free concentrates which consist of dispersions made from select pigments in a superior resin. The company’s Universal Bases offer compatibility with a wide range of main and co-binder resins used in multiple ink formulations, including Nitrocellulose (NC), Polyurethane (PU) and other key chemistries, thereby providing a streamlined solution to ink management and ultimate flexibility. The advantage these Universal Bases offer is the ability to blend a PU-based system for high-end lamination, pouches and retort.
Sun Chemical will increase prices across its entire portfolio of publication, packaging and commercial sheetfed inks, coatings, and adhesives in North America, effective immediately. The inflationary cost trends in raw materials used within the ink industry have continued to accelerate throughout the course of the year. In addition to the raw material pressures, significant cost increases have been instituted in steel drums, pails, and other packaging components. Availability of skilled labor remains a challenge and in order to attract and retain a committed team, labor costs and benefits have risen exponentially. International and domestic logistics costs have continued their steady climb and forecasts show no change in these trends in the near term. “Sun Chemical’s top priority throughout 2021 has been to maintain the supply of our products to our customers. We have absorbed the higher costs of expedited freight, raw materials and other key inputs in order to achieve that objective,” said Chris Parrilli, President of North American Inks.
Komori announced that Heeter, a full-service provider of innovative print and data solutions, has purchased an eight-color Komori GL40 perfector (GL840P) with UV capabilities. The 75-year-old, third-generation family-owned firm operates two facilities in the Pittsburgh, Pennsylvania area and has recently acquired a third location in Cleveland, Ohio to serve a wide variety of clients in health insurance, gaming, pharmaceuticals, education, retail, banking, utilities/energy and more. This is the company’s first Komori press, replacing a competitive press. Key to choosing the Komori over the three press manufacturers Heeter considered was the GL840P’s ability to deliver more efficiencies, its UV printing capabilities and its ability to deliver a lower cost of ownership. With an eye on efficiency and the reduced cost of maintenance and upkeep, the company determined the Komori GL840P fit its growing need for increased capacity, reduced turnaround times and expanded capabilities. Because the press is a perfector, run times are cut in half for two-sided jobs and the UV capabilities allow for faster drying, so that jobs can be sent to the bindery or other finishing processes quickly. This is Heeter’s first UV press and the ability to offer the vibrant colors and special effects of UV printing is a powerful value-added proposition for the high-end markets it serves.
To help printing companies navigate through the current crisis to the recovery on the other side, NAPCO Research and PRINTING United Alliance launched COVID-19 Print Business Indicators Research. This is the sixth in a series of reports, sponsored by Konica Minolta, that examines the effects of the COVID-19 crisis on the printing industry, how printers are responding to the crisis, and how they can create a path forward. This survey tracks key indicators across a cross section of printing companies, including commercial printers, graphic and sign producers, apparel decorators, functional printers, and package printers/converters. Download the in-depth executive summary to understand the current status of the printing industry. *Comparison of 2020 and 2021 First and Second Quarter Sales Numbers Highlight the Effects of the COVID-19 Pandemic *Index of Current and Leading Indicators Reaches Highest Point Since the Pandemic Began *Hiring Remains a Top Issue for Printers *Want More Printing Industry Trends and Projections?
A small business guide to launching a direct mail campaign. Let’s begin by considering an enlightening statistic. From the moment it enters a residence, a printed mail piece has an average lifespan of 17 days. 17 glorious axial rotations shuffling around the kitchen table and narrowly escaping coffee mug rings, only to be folded up during dinner and launched like a fighter jet. Each casual glance, each physical point of contact increasing brand awareness and unconsciously driving home your message. Now consider another form of [extremely] direct mail: Email has an average life span of (wait for it) 2 seconds! Two seconds? That’s shorter than the attention span of a goldfish (five seconds). The response rate for direct mail is also about 9 times higher than that of email, rolling in between 5-9%. When combined with digital marketing efforts, that rate skyrockets to a whopping 28%. much more at source: https://www.thysse.com/blog/getting-started-with-direct-mail-services/
2021 Third Quarter Results - Revenues increased by $34.2 million, or 5.8%, from $587.4 million in the third quarter of 2020 to $621.6 million in the corresponding period of 2021. Operating earnings decreased by $25.1 million, or 33.3%, from $75.3 million in the third quarter of 2020 to $50.2 million in the third quarter of 2021. Net earnings attributable to shareholders of the Corporation decreased by $20.2 million, from $48.3 million in the third quarter of 2020 to $28.1 million in the third quarter of 2021.
Sheridan’s Pennsylvania facility (a CJK Group company) is the site of the first Komori Lithrone GX840P+C, Eight-Unit Perfecting Press to be installed in the world. The latest press in the GLX series from Komori features the most productive and robust automation available. Among its many advanced features are Parallel Makeready*, which dramatically shortens makeready times, Smart Sequence* for non-stop automation, A-APC (Asynchronous Automatic Plate Changing System) for fast plate changes, PDC-SX (Spectral Print Density Control – SX), and Full Unit Ink Mist Filtering—all targeted to increase productivity and reduce costs. One of the most significant process changes is the adoption of energy cured inks. UV inks are instantly cured, eliminating all marking concerns on press and in finishing, thus allowing the press to run at higher speeds. Furthermore, a coater is integrated after the 8th unit, which is capable of applying UV or AQ solutions for superior enhancement and protection.
FCL Graphics, located in suburban Chicago, has upgraded two of their commercial web offset presses with color control and ink delivery technology from Baldwin Vision Systems. Technology upgrades on these first two full-web presses resulted in significantly higher print quality and an immediate 50% reduction in waste. Based on these results, a third upgrade on a half-web press is scheduled for August of 2021. According to Kurt Kunde, FCL’s Vice President of Operations, “We have presses that have been in operation for 15-18 years and are mechanically very sound. We basically scrapped everything on the machines from a controls standpoint, replaced it with the Baldwin Vision Systems technology, and made them brand new presses overnight.” The full-web presses are Harris M1000s and the half-web press scheduled for upgrade in August is a Harris M110B. “Our very experienced press operators love the systems,” said Mr. Kunde, “and because the interfaces are so easy to use, we’re able to train new operators more quickly.”
PRINTING United, scheduled to take place Oct. 6-8, 2021 at the Orange County Convention Center in Orlando, Fla., has been cancelled. The PRINTING United Alliance board of directors felt the ability to deliver a successful tradeshow event for all involved became significantly hampered recently with the growing uncertainty and spike in cases resulting from the COVID-19 Delta variant, and its depressing effect on registration and exhibitor participation. “We want to sincerely thank our vast industry partners -- including exhibitors, members and attendees -- for their collective support during this ever-changing landscape and time,” says Ford Bowers, CEO, PRINTING United Alliance. “We conferred with dozens of exhibitors from all segments and sizes, regularly monitored attendee sentiment, and the weight of opinion supported the difficult decision to cancel this year’s show.”
Last June, Chanhassen, Minnesota-based IWCO Direct announced a two-year, $50 million expansion plan, the largest in the 52-year history of the the direct marketing solutions provider. Part of those expenditures includes the installation of high-speed inkjet printing presses, largely in response to changing direct mail client needs for more highly personalized, data-driven campaigns, produced in shorter runs with rapid turn times. This new omnichannel market reality has also required IWCO Direct CEO John Ashe and his executive team to make difficult decisions about how to optimize the company's existing production facilities and remove excess capacity. As part of this, the 330 workers employed at IWCO Direct's Little Falls, Minn., lithographic printing, letter shop, and commingling plant were told last week that the 200,000-sq.-ft., leased facility — located 100 miles north of Minneapolis in a town of 8,500 residents nestled along the banks of the Mississippi River — will close by Jan. 2, 2022.
Konica Minolta Business Solutions U.S.A., Inc. is pleased to announce the installation of its AccurioJet KM-1e LED UV Inkjet Press at commercial and direct mail printer Zenger Group. Headquartered in Tonawanda, New York, Zenger Group is a second-generation, family-owned and operated, cutting-edge company using their strong print foundation to help brand owners market more efficiently and effectively. Having purchased an AccurioJet KM-1 in 2019, the high-volume production printing, high uptime and low cost of operation led them to make the second purchase. While other manufacturers were considered, Zenger Group found the AccurioJet KM-1 inks were much more durable, could print on any substrate and at a lower cost than the other available options. In its first year owning the AccurioJet KM-1, Zenger Group found customers love the outstanding quality and consistency, and the ability for the company to produce high volume postcards at a low cost enabled it to bring long-run mailing card applications – previously outsourced – back in house. The UV inkjet technology helped grow the company by 60 percent in 2020, moving it up the ranks to 123 from 207 on Printing Impressions’ Top 350 list. CEO Steve Zenger was also recently inducted into Printing Impressions’ Printing Industry Hall of Fame.
R.R. Donnelley & Sons Company announced that the Company’s Board of Directors has amended the Company’s stockholder rights plan to extend its final expiration date to August 28, 2022. The Board extended the Rights Plan due to concerns about the potential for one or more persons or groups to gain undue influence over or control of the Company through open market accumulation or other tactics. The Rights Plan does not prevent any action the Board determines to be in the best interests of the Company and its stockholders.
Sun Chemical expanded its ECO PASSPORT by OEKO-TEX® certified colorant portfolio for spin-dyed fibers, reinforcing its commitment to sustainable fibers processing for textiles. The newly added products provide excellent suitability for polyamide and polyacrylics, complementing the existing ECO PASSPORT colorant portfolio that contains products suitable for polypropylene, polyester and polyamide. The number of ECO PASSPORT certified colorants has increased to nineteen total products, now encompassing the full color space across a variety of polymers and providing excellent durability performance both in processing and end-use applications.
The Sustainable Green Printing Partnership announced its participation in the Kansas City Sports & Sustainability Symposium on Aug. 17, 2021. The Symposium will be held at Kansas City Chiefs’ Arrowhead Stadium. Attendees include regional professional and collegiate sports teams and venues, concessionaires, business and public leaders, and athletes to explore how the industry can make plays to advance healthier, more sustainable communities. The program covers sustainability focusing on local action across environmental and social fronts. SGP Partnership will participate in the showcase of sponsors, highlighting the role of SGP certified printing facilities can play in the sustainability of sporting events and venues. “I am looking forward to attending and sharing more with the Kansas City sports teams and the Green Sports Alliance on how using SGP certified printers can accelerate their sustainable contribution in local communities. With sport venues using a large amount of print including outdoor signage, arena graphics, packaging and event materials, SGP can helps align the sustainability goals of these teams in their print supply chains,” said Bryan Rose, SGP Board of Directors and vice-president at Cooley Group. “We can help make a transformative change by providing the sports industry printed materials with the best possible sustainable profile.
R.R. Donnelley & Sons Company announced the launch of an omnichannel offering designed to meet the education industry’s need for elevated communications agility that maximizes the value of each step in the student journey. The education industry is going through significant change due to COVID-19 and must evaluate how they acquire and engage students and seek business and operational efficiencies. As enrollment challenges persist, the pressure is on educational institutions to drive brand awareness, cultivate a sense of community, and maintain student safety. RRD has mobilized to offer a specialized set of solutions for pre-K through 12 instructional publishers, self-funded private schools, and higher education institutions. Designed to perform as an extension of marketing and business support teams, standout elements include: *Personalized, education-specific programs that support recruitment strategies, instructional content, interactive online experiences, and printed curriculum for students and teachers *Fundraising campaigns that build endowment sustainability, alumni engagement, and donor support — with quantifiable ROI *Touchless communications via NFC and/or QRC technologies to accommodate demand for contactless interactions *Signage and wayfinding for all campus facilities and spaces, with the option of white-glove installation *Customized support to help fill gaps in specific communications programs — from integrated campaigns to multichannel billing and payment systems
The Sustainable Green Printing Partnership (SGP) announced Christopher Rose of Shutterfly and Blake Pace of Primex Plastics as the first Sustainability Champions. The SGP Sustainability Champion program recognizes SGP Community Members for outstanding efforts in making the environment a better place to work and live. An SGP Sustainability Champion is committed to positive change, shows passion through leadership, and exemplifies environmental stewardship and activism. Champions look beyond immediate, short-term goals and are committed to making an impact in a larger context. Chris Rose of Shutterfly was nominated by several people, recognizing his work in achieving SGP certification for its Fort Mill, SC facility. “Chris Rose took up the cause for sustainability almost two years ago. He was excited about the challenge of receiving SGP certification, knowing it would take considerable time and effort,” said John C. Hindman, Senior Manager for Environmental Health & Safety at Shutterfly. Blake Pace is the general manager of the Primex Plastics Reedsburg, WI facility. “Blake is a firm believer in responsible manufacturing. Along with renewable energy usage, environmental efforts emphasize energy and efficiency audits, reuse and rework of pallet and packaging materials and proactive freight considerations,” said Teri Benning, Primex Plastics in her nomination submission of Blake.
Freedom has signed an exclusive letter of intent to purchase the assets of Suncraft Technologies, and is expected to close the deal in the upcoming weeks. “We are thrilled to welcome Suncraft employees to the Freedom family and are confident that this will be a perfect fit for them, as well as their clients” states Eric Blohm, President of Freedom. “In addition to our recent digital press and lettershop expansion, the acquisition of Suncraft’s assets will further strengthen our core competencies and expand our extensive offerings to our clients.
Two Sides North America is pleased to welcome The Printing Industry of the Carolinas, Inc. (PICA), as our newest member. Headquartered in Charlotte, North Carolina, PICA is the regional graphics trade association serving the commercial printing, digital, wide format, mailing and packaging industries in North and South Carolina. The association provides educational programs, networking opportunities, buying power programs and conferences geared toward the printing industry. “Printers play a vital role in helping to educate print buyers and other decision makers about the sustainability, effectiveness and relevance of print, paper and paper-based packaging in today’s omni-channel world,” says Two Sides North America President Kathi Rowzie. “Two Sides is pleased to add PICA to our growing list of industry association members, and we invite their members to join us as well.”
Second Quarter 2021 Financial and Segment Highlights *Revenue was $67.8 million higher than the previous year. All four segments experienced year-over-year revenue growth. Not including the First American acquisition, which closed on June 1, 2021, revenue increased $40.5 million, or 9.9 percent year-over-year. *The Payments segment delivered revenue growth of 43.1 percent over the previous year, $27.3 million of which was from First American. *Net income of $12.1 million includes $15.9 million of costs related to the First American acquisition during the quarter. *Cash flow from operations for the first half of 2021 was $83.8 million and capital expenditures were $46.6 million. Free cash flow, defined as cash provided by operating activities less capital expenditures, was $37.2 million, a decrease of $45.4 million as compared to 2020, largely attributable to capital investments this year and costs related to the First American transaction.
The print and paper advocacy group, Two Sides, are excited to announce its newest member, a print partner for thousands of marketing, creative and print professionals, Tradeprint. “We understand what the customer needs from us, and we’ll do everything it takes to deliver. We know their reputation is on the line with each and every order, that’s why we produce only the highest quality print.” says Charlene Joss, Managing Director at Tradeprint. Charlene continues, “It’s not just the high quality of print we deliver to our customers, but also the benefit of knowing that we regularly evaluate ways to reduce the impact of our operations and products on the environment so that we are protecting it to the best of our abilities. By joining with Two Sides, we will further promote the sustainable qualities of our company and an industry that has a great sustainable record.”
Organic net sales increased 11.4%. The Business Services segment was up 14.3% on a GAAP basis while the Marketing Solutions segment was up 10.3% both on a GAAP organic basis from the second quarter of 2020. The Business Services segment experienced growth in several of our strategic focus areas including Packaging, Labels and Supply Chain Management. Net sales in Marketing Solutions also experienced growth, led by higher volumes in Digital Print and Fulfillment and Direct Marketing, partially offset by last year’s Census project, which was completed in mid-2020. Income from operations was $28.2 million in the second quarter of 2021 compared to loss from operations of $19.0 million in the second quarter of 2020. The second quarter of 2021 included net restructuring, impairment and other charges of $9.7 million, a decrease of $18.7 million from the prior year period primarily due to lower consulting and employee termination costs.
Results for the six months ended June 30, 2021, include: Net Sales — Net sales were $1.4 billion in the six months ended June 30, 2021, down 1% from the same period in 2020, primarily due to the impacts from the COVID-19 pandemic in the first quarter, nearly offset by year-over-year increases in print, logistics and agency solutions sales in the second quarter. Net Earnings (Loss) From Continuing Operations — Net earnings from continuing operations were $45 million or $0.85 diluted earnings per share from continuing operations in the six months ended June 30, 2021, an increase of $69 million compared to the same period in 2020, which recorded a net loss of $24 million or $0.46 diluted loss per share. Net earnings were higher due to a $26 million decrease in restructuring, impairment, and transaction-related charges, a $24 million increase from gains on the sale of businesses, and a $14 million gain from the sale and leaseback of the Chalfont, Penn., production facility in the second quarter of 2021. These increases were partially offset by approximately $30 million in non-recurring temporary cost savings in 2020.
R.R. Donnelley & Sons Company issued the following statement regarding the Schedule 13D filed on July 28, 2021 by Chatham Asset Management, LLC with the Securities and Exchange Commission disclosing, among other things, its current holdings of common shares and debt of RRD. RRD is open to constructive input from any of its stockholders and has been engaged in frequent dialogue with Chatham for more than two years. In addition, the Company’s Board of Directors and management continue to work extensively with external advisors to review strategic opportunities, including monetizing assets to unlock the intrinsic value of RRD. Since July 31, 2020, RRD has successfully executed the following transactions to accelerate its debt and leverage reduction: *In November 2020, RRD completed the sales of its two remaining Logistics businesses for $238 million with the assistance of an external advisor. *In December 2020, RRD generated $96 million in proceeds from liquidating certain insurance policies. *RRD completed nine real estate sales yielding proceeds of $22 million.
Modern Litho announces it will acquire the commercial printing division of Watkins Lithographic of North Kansas City, Missouri as of August 1, 2021. The acquisition increases production capacity and further enhances the company’s suite of services which include: digital and offset print, mailing, warehousing and fulfillment, and wide format services in the Kansas City and regional markets. “After the successful acquisition of James Printing in 2018, we knew we wanted to expand our Kansas City footprint. Watkins Lithographic is a great fit in terms of their customer base, employee group, equipment, and facility. We will continue to build on the Watkins Litho tradition of serving their clients well and will look to make investments that will enhance that experience,” commented Darrell Moore, President of Modern Litho.
CJK Group, Inc. has announced that it has rebranded three of its print facilities as Sheridan sites. Bang Printing is now Sheridan Minnesota, Hess Print Solutions is now Sheridan Ohio, and Webcrafters Inc. is now Sheridan Wisconsin. With this rebranding, Sheridan now maintains eight printing locations in the US; the existing five being Sheridan Michigan, Sheridan Grand Rapids, Sheridan Kentucky, Sheridan New Hampshire, and Sheridan Pennsylvania. CJK Group Inc. is also parent company to KnowledgeWorks Global Ltd., a full-scale content services organization with locations in the US, India, and the UK. Uniting all print facilities under one name and a centralized management structure affords all Sheridan print customers more flexibility, increased capacity, and a wide array of publishing services. The markets Sheridan serves include book, journal, magazine, catalog, and commercial print.
Allen Press announced today that Mark Kohlhase has been named Chief Executive Officer, effective immediately. Kohlhase had been serving as the Interim CEO since January 2020. As CEO, Kohlhase will continue overseeing all aspects of the company and setting long-term strategic goals and objectives. “Providing excellent customer service has been and continues to be my primary focus,” Kohlhase said. “As CEO, I believe that a servant leadership approach and a laser-like focus on our customers’ well-being will help us create long-term stability for Allen Press.” Kohlhase will continue to focus on the core competencies of commercial printing and scholarly publishing services that are Allen Press mainstays.
Sun Chemical has launched two new color travel effect pigments, Reflecks™ MD Midnight Cherry and Reflecks™ MD Midnight Sapphire, to join its Reflecks™ MultiDimensions product family. These two blackened metallic-like effect pigments based on calcium sodium borosilicate, utilize innovative multilayer technology that delivers intense chroma, color travel, and sparkle. With a new patent-pending process, the absorption colorant is embedded within the coating, aiding in easier and faster formulation as well as benefitting the end customer by minimally staining the skin. Both new products utilize color travel. Reflecks™ MD Midnight Cherry shifts from red to green and Reflecks™ MD Midnight Sapphire shifts from blue to red. The intensity of the color travel is enhanced by the built-in background color using a cutting-edge process that embeds the absorption colorant into the coating layers. This process also aids in faster and easier formulation.
Count on SPC for creative that drives results. Our talented team was recognized by the Chicago Association of Direct Marketing (CADM) Tempo Awards for producing a campaign that boosted response by 44% against the control. SPC won four awards across three categories: *First Place in the Direct Mail Category *First Place for Copywriting *Second Place for Copywriting (additional submission) *Third Place for Art Direction. Award nominees are judged by industry experts with extensive experience and understanding of successful direct marketing programs, an eye for unique and engaging tactics, and overall understanding of direct response best practices.
Mt. Royal Printing, Baltimore, MD-based full-service print production company, has made tuck-in acquisitions of two Pennsylvania firms, Spectrum Printing, Inc., East Petersburg, and Shuman Heritage Printing Co., LLC, York. Graphic Arts Advisors, LLC (GAA), Mountain Lakes, NJ, an M&A advisory and consulting firm focused exclusively on the printing, packaging, mailing, marketing materials production, and related graphic communications industries, represented Mt. Royal in the transactions. Spectrum and Shuman represent the latest strategic transactions by the fourth-generation, family-owned Mt. Royal, which has used acquisition as a growth strategy for the past 15 years. The acquisitions represent Mt. Royal’s first foray outside of the greater Maryland / Washington, DC / Northern Virginia market.
Konica Minolta Business Solutions U.S.A., Inc. is pleased to introduce the AccurioPress C7100 series, digital color presses packed with innovative technologies to create more profitable business opportunities. From intelligent automation and enhanced finishing to flawless quality, advanced capabilities and exceptional durability, customers have the power to grow their businesses through a press that works smarter. Succeeding the highly successful AccurioPress C6100 Series, the new AccurioPress C7100 model runs at 100 pages per minute (ppm) with the AccurioPress C7090 at 90ppm. With a focus on optimizing performance, offering new and advanced print products, and growing the entire business, the AccurioPress C7100 series serves more customers and completes more jobs with innovative technologies that power success. “Key to the development of the AccurioPress C7100 and AccurioPress C7090 was building a press that works smarter, not harder, with new technologies geared to provide stability, reliability and productivity to make businesses more profitable,” said Dino Pagliarello, Senior Vice President, Product Management and Planning.
Two Sides North America is pleased to announce that DPI Direct (www.dpidirect.com) has joined our community of advocates for the sustainability of print, paper and paper-based packaging. Headquartered in Poway, California, DPI Direct specializes in UV-offset, Indigo digital, labels and large format printing, and offers a wide array of marketing services, from direct mail and trade show booths to retail signage and point-of-purchase displays. “Printers are on the front lines when it comes to educating brands, retailers and other stakeholders about the inherent sustainability of print and paper, so we’re especially excited to have a premier West Coast printer like DPI Direct join Two Sides,” says Two Sides President Kathi Rowzie. “Small and medium size printers like DPI Direct are a key part of our network and our education efforts, helping us reach many print buyers who want to make sustainable communications choices but often don’t know the facts about paper’s contributions to a more sustainable, circular economy.”
The Sustainable Green Printing Partnership (SGP), the leading authority in sustainability certification for the printing industry, announced today that the Meyers Printing Companies, Inc. achieved SGP certification for its Minneapolis, MN facility. “Meyers believes in integrity and an important part of this is our environmental compliance and stewardship,” said Chris Dillion, President at Meyers. “Integrity is a central part of who we are. And to us, integrity and sustainability are intertwined. If you’re not thinking about how your work impacts those around you and those who will come after you, are you really working with integrity?” As a certified SGP printer, Meyers is committed to exceeding sustainability targets by reducing waste, conserving energy, sourcing sustainable materials, creating a safe workplace, continuous improvement, and lowering our carbon footprint. Each year sustainability projects are identified and tracked to document areas of improvement; an audit by the third-party certification organization occurs every two years.