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Banta Announces Plant Closings, Layoffs

September 2006
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MENASHA, WI—Banta Corp. has announced strategic initiatives that are expected to produce annual cost savings of $35 million, but will result in the closure or sale of five of its facilities.

In tandem with the reorganization of its print sector earlier this year, Banta is eliminating 500 positions. The moves are designed to position Banta for global expansion in both its printing and supply chain management businesses, as well as deliver a special $16 per share cash dividend to stockholders.

The move comes on the heels of the merger overtures made by Cenveo Inc., of Stamford, CT. Cenveo Chairman and CEO Robert Burton has made a $1.14 billion offer, or $47 per share, for the troubled printer.
 

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Most Recent Comments:
Bruce L. McCurley - Posted on September 18, 2006
I'm not surprised. As an independent, self-employed sales representative, I tried to bring a monthly magazine client to Banta several years ago and was told that they would be happy to pay my commission for the first issue printed, but not after that. Such a deal! Spend my time and money to bring them a new client for nothing in return! How could I resist? Happily, I did resist and now have a great working relationship with a reputable printer who is happy to have the business.
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Archived Comments:
Bruce L. McCurley - Posted on September 18, 2006
I'm not surprised. As an independent, self-employed sales representative, I tried to bring a monthly magazine client to Banta several years ago and was told that they would be happy to pay my commission for the first issue printed, but not after that. Such a deal! Spend my time and money to bring them a new client for nothing in return! How could I resist? Happily, I did resist and now have a great working relationship with a reputable printer who is happy to have the business.