Suppliers Get In on the Merger/Alliance Action
Paragon CFO Edward J. Suchma says the combined market and industry expertise of A.B.Dick and Multigraphics "creates a powerful force in the graphic arts industry."
The transaction is expected to close by the end of the year. Paragon Corporate Holdings acquired A.B.Dick in January 1997. Including Multigraphics, Paragon will have annual revenues of approximately $370 million.
And in the ink sector, Ann Arbor, MI-based Flint Ink has acquired all of the business and operating assets of The Ink Company, based in West Sacramento, CA.
The Ink Company manufactures inks and coatings for the newspaper, heatset web, sheetfed and package printing markets. Since its founding in 1977, it has built a system of mother plants and satellite operations.
The transition is expected to be completed with no interruption or delay in service to customers, officials say. Founded in 1920, Flint Ink operates nearly 100 facilities worldwide, employs approximately 3,200 people and had sales in excess of $1 billion in 1998.