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.
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Quad/Graphics, Inc. announced that it has completed the ninth amendment to the Company’s April 28, 2014, bank debt agreement to: (1) reduce the aggregate amount of the existing revolving credit facility from $342.5 million to $324.6 million, and extend the maturity of a portion of the revolving credit facility such that $17.7 million under the revolving credit facility will be due on the existing maturity date of November 2, 2026 and $306.9 million under the revolving credit facility will be due on October 17, 2029; (2) extend the maturity of a portion of the existing term loan facility such that $14.5 million of such term loan facility will be due on the Existing Maturity Date and $351.3 million will be due on the Extended Maturity Date; (3) make certain adjustments to pricing, including an increase of .50% to the interest rate margin applicable to the loans maturing on the Extended Maturity Date; and (4) modify certain financial and operational covenants. Tony Staniak, Quad Chief Financial Officer, said: “We are pleased to have completed the amendment and extension of our $690 million bank debt agreement, which extends the maturity to October 2029, due to our strong relationships with a syndicate of premier banks and our disciplined financial management. By the end of 2024, we anticipate we will have reduced our debt by over $670 million, or 65%, from January 1, 2020, and we will continue to focus on debt reduction with our capital allocation. This debt extension provides us with additional financial flexibility to focus on the growth and development of our offerings as a marketing experience company while returning capital to our shareholders.”
By offering a combination of trusted brands, consistent products and OEM partnerships combined with ‘Best in Class’ manufacturing, Flint Group was well positioned at IPEX to help printers extend their printing capability in respect to new substrates and targeting new market sectors. The XCURA EVO ink series featured heavily during the show. This ink series has been designed to help printers achieve maximum performance from new LED-UV presses and presses that have been retrofitted with a LED-UV curing system. Following on from IPEX Flint Group is pleased to announce that Fontain, a London based commercial printer, has agreed to Flint Group being the sole supplier of LED-UV ink for its brand new RMGT Ryobi 928P. This four-over-four perfecting press with LED-UV drying was also running live print jobs at IPEX. Click Read More below for additional information.
The publication printing industry in North America continues to consolidate, and LSC Communications is leading the charge. Following on the heels of its July 17 acquisition of Creel Printing, Chicago-based LSC Communications announced today that it has acquired Publishers Press, a family-owned printing and digital solutions provider based in Lebanon Junction, Ky. It brings an end to the stewardship of Publishers Press and its predecessor entities by five generations of the Simon family, whose roots go back to 1866 when Nicholas Simon purchased an interest in a new German newspaper in Louisville, Ky., which later became known as "The Printing Rooms of Nicholas Simon."