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UPFRONT

January 2011

Ponzi Schemer is Sentenced

MINNEAPOLIS—Gerard Cellette Jr., the confessed Ponzi schemer who took the unusual tact of going into custody a year ago to begin his sentence, was given eight years in prison for bilking investors out of $53 million. Cellette had pleaded guilty to 36 counts of securities fraud in a scam linked to phony contracts for his printing business.

Inco Graphics Shutting Down

MASON, MI—Saddled with debt resulting from a 2004 technology investment, Inco Graphics planned to close its doors this month after all work in process was completed, the Lansing State Journal reported. The newspaper cited a letter to customers in which the company explained how the real estate bust reduced its pool of housing-related publications from 19 to three. Inco Graphics, which was founded in 1963, employed 48 at the time of its demise.

Staples Obtains PRINTSouth

FRAMINGHAM, MA—Staples Advantage, the business-to-business division of Staples, announced that its Print Solutions business has acquired PRINTSouth Corp. (operating as Miami Systems), a national manufacturer of business forms. Customers of Staples Print Solutions and Miami Systems will reportedly benefit from expanded product and service offerings, and improved distribution capabilities.

Edwards Adds Book Press

ANN ARBOR, MI—Edwards Brothers (EB) has installed a new Timsons T48A ZMR (zero makeready) one- and two-color press, adding to one of the biggest fleets of Timsons presses in the country. This press will significantly increase capacity and help EB meet the needs of its professional and educational clients with short- and medium-run offset book manufacturing.

Cenveo Selling Bindery?

STAMFORD, CT—Cenveo Inc. has signed a letter of intent to sell the assets and equipment of its bindery division at Cenveo-St. Louis to an undisclosed party, the general manager of that facility told the St. Louis Business Journal. The move could result in the reduction of 65 jobs there. There are 208 employees at Cenveo-St. Louis, according to the newspaper.

Milestone Press for Hammer

ROCHESTER, NY—Hammer Packaging is the first North American printer to obtain a Heidelberg Speedmaster CX 102 press. The eight-color press has a CutStar roll sheeter, Prinect Press Center with Intellistart operator guidance system, integrated Wallscreen, and Axis Control color measurement and control system. Its integrated IST UV system also uses a new electronic lamp control that will enable the system to operate at low energy consumption and take up to 50 percent less space.

Paper Maker Exits Bankruptcy

MONTREAL—AbitibiBowater has successfully completed its reorganization and emerged from creditor protection under the Companies' Creditors Protection Act (CCAA) in Canada and Chapter 11 of the U.S. Bankruptcy Code. Since 2007, the company has reportedly restructured itself both financially and operationally in a way that has dramatically lowered its break-even point. AbitibiBowater streamlined its asset profile to top-performing facilities, closing or idling 3.4 million metric tons of paper capacity on an annual basis.

RRD Acquires Nimblefish

CHICAGO—RR Donnelley has acquired the assets of San Francisco-based Nimblefish Technologies, a provider of multi- channel marketing services to retail, technology, telecommunications, hospitality and other customers. Nimblefish's software services include integrating direct mail, e-mail, Web publishing, personalized URLs and variable video components into multi-touch, multi-channel customer prospecting and engagement programs.

'Big Easy' Printers Combine

NEW ORLEANS—Harvey-Hauser Press and Garrity Print Solutions have agreed to merge their two locally owned commercial printing companies into one, larger organization in order to significantly enhance the printing capabilities, technology and capacity available to their customers. The new company, to be known as Garrity Print Solutions, a Harvey Co., will reportedly create the largest commercial printer in the area in terms of annual sales.

Boomer's, Cornerstone Merge

LINCOLN, NE—Boomer's Printing, a fixture here for nearly a century, has merged operations with Cornerstone Printing & Imaging, according to the Lincoln Journal-Star. Terms of the deal were not disclosed. As part of the deal, Boomer's owner, Harold Klein, will become part owner of Cornerstone, according to the newspaper. The combined company will employ roughly 45 people and will operate under the Cornerstone name. Boomer's was founded in 1919. Cornerstone began as an AlphaGraphics franchise in 1992. PI


 

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