Bank Closes In-Plant Facility
MALDEN, MA—The Bank of America plans to close its in-plant printing operation here and transfer the work to other states, The Boston Globe reported. The move, which begins this month and is expected to take place by next spring, will cost 150 jobs. Printing work will be sent to printing facilities in Delaware, New Jersey and Texas.
InnerWorkings Sues Yahoo
CHICAGO—Printing broker InnerWorkings has filed suit against Yahoo Inc., claiming the online giant's Yahoo Finance understated earnings and revenue information about the company since at least last March, according to Chicago Business. InnerWorkings claims the misinformation has been detrimental to its stock price. The complaint says that Yahoo Finance reported InnerWorkings' 2010 revenue was $419 million; InnerWorkings contends it was actually $489 million.
BurdgeCooper Adds Ponte
LOS ANGELES—BurdgeCooper has completed a deal to acquire Phoenix-based Ponte Graphics, which has served Arizona's legal and professional market with printing and engraving services for more than 40 years. BurdgeCooper will maintain a Phoenix warehouse, while printing services will be provided from Los Angeles.
Fry Forges Partnership
MECHANICSBURG, PA—Fry Communications and Godengo, an online magazine platform provider, have forged a strategic partnership. As part of the agreement, the two companies will cross promote their services and work together on multichannel solutions to help publishers reach readers in print and online.
Pointsmith Installs Press
KATY, TX—Pointsmith, an at-store point-of-purchase marketing management company based here, is increasing its capacity with the installation of a new 41˝, six-color KBA Rapida 106 sheetfed offset press with full UV capabilities. The Rapida 106 is equipped with the KBA Logotronic management system, KBA Densitronic combined density and color measuring system for quality control, and the Drivetronic feeder.
American Press Is Closing
GORDONSVILLE, VA—American Press, a privately owned magazine and catalog printer, is shutting down its plant here, leaving 120 employees without a job. The family owned business, founded by Marshall Pettygrove and run by his son, will cease operations and close its doors by the end of this month. American Press has been printing and distributing products like tourism brochures and periodicals from its Orange County headquarters since 1972.
RR Donnelley Acquires Helium
CHICAGO—RR Donnelley has acquired Andover, MA-based Helium, a company in which it took an equity position in September 2009. Helium is a writing community and social publishing platform, serving publishers and other content managers with local and lifestyle editorial content. Its freelance marketplace enables publishers and others to access and commission content used in books, Websites, catalogs, newspapers, magazines and other communications.