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UPFRONT

January 2008
HP Makes Deal for NUR

PALO ALTO, CA—Hewlett-Packard Co. has agreed to buy Israel-based NUR Macroprinters, which produces wide-format digital ink-jet printers, for $117.5 million. The deal, pending regulatory approval, will expand HP’s graphic arts portfolio of digital presses and wide-format printers. HP also acquired MacDermid ColorSpan last year.

Domtar Reduces Capacity

MONTREAL—Domtar will close its Port Edwards, WI, mill and reorganize production at its Dryden, Ontario, facility. The Port Edwards move, which is expected to take place in the second quarter of this year, will cost 500 employees their jobs. At Dryden, one paper machine and two sheeters will be closed, impacting 125 jobs there. These moves will permanently trim annual production capacity of uncoated freesheet paper by 342,000 pounds.

New Presses for PBM Graphics

DURHAM, NC—In an effort to bolster its capacity and enhance productivity, PBM Graphics has installed a pair of six-color Komori Lithrone S40 sheetfed presses at its facility here, and another at its Greensboro plant. All three presses are equipped with in-line coating systems to allow aqueous, metallic and color coating options.

Fire Damages MO Print Shop

NEOSHO, MO—A December 3 fire caused about $190,000 in damages to Neosho Printing, according to the Joplin (MO) Globe. The blaze started shortly after midnight. No one was in the building at the time of the fire, according to the paper, and there were no reports of injuries.

Transcontinental Revisits Stats

MONTREAL—After identifying two non-cash accounting errors in preparation for its 2007 year-end financial statements, Transcontinental Inc. will be restating its financial statements for prior years. Income tax liabilities at the end of 2006 were understated by approximately $10 million. A second error saw property, plant and equipment of Mexican subsidiaries overstated by about $10 million at the end of fiscal year 2006, due to amortization being calculated incorrectly. The restatements are not expected to have an impact on cash flows.

InnerWorkings Acquires Edge

CHICAGO—Managed print solutions provider InnerWorkings has signed a definitive agreement to acquire Corporate Edge of New York City. Corporate Edge is a national distributor of promotional products that posted sales of $59 million in 2006.

Goto Takes Ricoh U.S. Helm

WEST CALDWELL, NJ—Some executive changes are taking place at Ricoh Americas, where Norihisa Goto has slid into the role of chairman and CEO. Goto will also continue to serve as president and CEO of Ricoh U.S. Susumu Ichioka, incumbent chairman and CEO of Ricoh Americas, has assumed a significant position with its Tokyo-based parent, Ricoh Co.
 

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