Webcrafters Trims Staffing
MADISON, WI—Book manufacturer Webcrafters has completed the staff reduction program announced in March, with 127 employees opting for a voluntary separation package and just six leaving on an involuntary basis. The voluntary packages represented 95 percent of the staff reduction at Webcrafters, a family owned, conventional and digital four-color educational book printer. Those packages included six months' severance pay.
RRD's Fitch Rating Revised
NEW YORK—Fitch Ratings has affirmed RR Donnelley's (RRD) Issuer Default Rating (IDR) at BB+ and revised the Rating Outlook to "Negative" from "Stable." Fitch said it is concerned organic revenue growth will continue to be challenged and, given the limited headroom within the ratings, any unexpected weakness in the economy or in RRD's operating performance could reduce the level of cash generated, slowing the pace of absolute debt reduction.
HBP Nets Whitmore Assets
HAGERSTOWN, MD—A corporate subsidiary of HBP Inc. has acquired certain assets of Baltimore-based Whitmore Print and Imaging. Terms of the deal were not disclosed. HBP provides integrated solutions such as printing, multi-channel marketing services and a customized fulfillment operation.
Gang Attacks Mexican Printer
MONTERREY, MEXICO—Gang violence continues in northern Mexico as a media outlet was once again the target of an attack. Several gunmen entered a DIPSA printing facility in the border state of Nuevo Leon and set fire to the plant, according to The Associated Press. No one was injured, but five employees had their wallets and cell phones stolen.
Brandt Co. Buys MultiAd Unit
PEORIA, IL—MultiAd has sold its 20-year-old commercial printing division to Brandt Co. of Davenport, IA, the Peoria Journal Star reported. The decision to sell was motivated by the need for investments in newer printing technology, according to MultiAd President John Kocher. The printing division at MultiAd had produced much of its work for the sports industry, including the 2008 U.S. Olympic media guide. It also produced guides and yearbooks for U.S. soccer teams.
Another Web for Worzalla
STEVENS POINT, WI—Book printer Worzalla has taken delivery of its second web offset press in as many months, a five-color manroland Rotoman that it expects to start up some time this fall. It joins a recently acquired five-color manroland Lithoman, which was due to start up this month.
New London Gets Funding
ALPHARETTA, GA—New London Press, a full-service printing, mailing, fulfillment and graphics company, has received an investment from Agilis Equity Partners and Valesco Industries. This partnership marks a new beginning for the company, which will operate under the name New London Communications. As a result of the investment, New London plans to expand its sales force and marketing initiatives, and enhance service offerings in targeted markets.
Catalyst Closes Recyling Mill
RICHMOND, BC—Catalyst Paper announced the permanent closure of its Snowflake recycling mill located in northeastern Arizona and its subsidiary, Apache Railway. The move follows extensive efforts to improve the operation's financial performance in the face of intense supply input and market pressures. The operation, employing more than 300 workers, is slated to cease production on Sept. 30. PI