Foreign Competition Dooms Stinehour
LUNENBURG, VT—Citing an inability to compete with cheaper foreign production costs, The Stinehour Press closed its doors April 7, leaving 21 people without work. Stinehour CEO Warren Bingham said the book printing company could not afford the $3 million investment in digital printing technology required to remain competitive.
“We’re a quality standard that others are judged by,” Bingham told the Burlington (VT) Free Press. “It’s ironic that we would be in a position where we are seen by many as the best in the world, but we’re not able to succeed in the economy,” he added.
The Stinehour Press is working with the Vermont Department of Labor to help its employees find new jobs. While the company plans to liquidate its assets, Bingham said the firm would still be a viable business with the right investment, according to the paper.
Founded in 1951, The Stinehour Press has won more than 50 awards for design and production quality.