Worldcolor Facility Closing
OBERLIN, OH—A direct mail and magazine insert plant owned by Worldcolor here will shut its doors by May 21, the Elyria (OH) Chronicle-Telegram reported. A total of 119 jobs will be lost. Tony Ross, vice president of communications for Worldcolor, told the paper that work from the plant would be shifted to other facilities within the organization.
Acme Assets Are Acquired
WESTWOOD, MA—Universal Millen- nium, a portfolio company of Calvert Street Capital Partners, has acquired the assets of Wilmington, MA-based Acme Printing from parent company The MATLET Group. According to Universal CEO Bill Fitzgerald, the deal provides customers with a powerful suite of tools, from web and sheetfed printing to Web-to-print and digital printing capabilities, across three facilities.
Smith Litho Closes Doors
ROCKVILLE, MD—Smith Litho, a commercial sheetfed, web, coldset and mailing operation, has closed its doors. The company ceased operation at the end of March, ending a nearly 37-year run. In arriving at the decision, CEO Charlie Smith cited revenue-decreasing factors such as the economy, increasing postal rates and the move by marketers toward digital alternatives for print.
Trustee Says Assets Shielded
ALBANY, NY—As much as $1.2 million was allegedly taken from Tech Valley Printing by shareholders. The Albany Times Union reported that the trustee overseeing the defunct printer's Chapter 7 proceedings filed a complaint in U.S. Bankruptcy Court alleging that payments were made while the firm was insolvent during a one-year period leading up to its April 2008 filing. It is illegal to shift assets to shield them from creditors, even prior to a bankruptcy filing.
Quad Nails Catalog Pact
SUSSEX, WI—Quad/Graphics has inked a multimillion-dollar extension to become the exclusive print provider for all Talbots catalogs. The new contract covers premedia services, printing and distribution of all catalogs annually for Talbots, a multi-channel retailer of women's apparel, shoes and accessories based in Hingham, MA. The catalogs will be printed at Quad/Graphics' Lomira, WI, plant, and distributed via its fleet of trucks. Quad had been sharing the work with a competitor.