Creo Shareholders OK Deal
VANCOUVER, BC—An overwhelming majority of Creo shareholders gave their blessing in late March for the company's pending acquisition by Eastman Kodak. Out of more than 33 million votes cast by shareholders, a resounding 99.8 percent voted in favor of the resolution. Another 97.8 percent voted in favor of waiving application of the shareholder rights plan. Pending final regulatory approvals, Kodak will pay $16.50 per share of Creo stock for a total of $980 million. The transaction is slated to be completed this summer.
Big Installation at Canadian Firm
WINDSOR, ON—Graphic design, Internet printing and service specialist VistaPrint will install a pair of MAN Roland presses at its new facility here, just south of Detroit. In all, VistaPrint ordered four 41˝ Roland 700 presses. The company currently operates two Roland 700 presses with in-line coating and perfecting capabilities at its production facility in Venlo, The Netherlands.
Ex-Color Arts Workers Cut Deal
RACINE, WI—A total of 215 former Color Arts employees received checks from the Wisconsin Department of Workforce Development (DWD) in a settlement of wage claims and plant closing violations by a former owner, the Milwaukee Business Journal reported. More than $1 million, or about $4,775 per employee, was dispersed to those employees who chose to accept the settlement offer stemming from last June's unannounced plant closing here.
Quebecor World Closing Plant
MONTREAL—Pricing pressures from low-cost, independent competitors has forced Quebecor World to close down its Laval, Quebec, facility in a reorganization plan. About 50 employees will be transferred to other plants in the Quebecor World chain and 150 positions will be eliminated. Prepress and sales efforts there will also be consolidated into the 10 company facilities in the province.
PRINT 05 Online Registration Open
RESTON, VA—The Graphic Arts Show Co. (GASC) announced that online registration is now available for PRINT 05 & CONVERTING 05, which will be held September 9-15 at the McCormick Place complex in Chicago. The show is recognized as the largest printing equipment and related technologies expo held in the world this year. For more information and registration, visit www.PRINT05.com.
Danzig Addresses Conference
NAPLES, FL—Hearst Newspapers CEO Bob Danzig, whose company printed 390 million magazines in 2004, related his thoughts on developing leadership and steering a business to greater heights during the 2005 PIA/GATF Presidents Conference and BIA Conference, held here recently. Addressing a crowd of 274 industry executives, Danzig pointed out that printers face the same challenges as any other business, namely using innovation, creativity and insight to better serve customers and drive future success.