Mohawk to Buy IP's Fine Papers
STAMFORD, CT—International Paper has signed a non-binding letter of intent to sell its fine papers business to Mohawk Paper Mills, of Cohoes, NY. The fine papers business, a small segment of International Paper's uncoated business, includes the writing, text and covers papers, as well as artist papers segment. Included in the sale are the Hamilton, OH, paper mill; the Saybrook, OH, converting center; and the Westfield, MA, artist papers converting operation. The brands included in the deal are Strathmore, Brite Hue, Via and Beckett.
Mosner Steps Down at Deluxe
ST. PAUL, MN—Checks and business forms manufacturer Deluxe Corp. announced that Lawrence Mosner, chairman and CEO, plans to retire in 2005. The board has retained Highland Partners to assist in the search for a successor. Mosner, who joined the company in 1995, played a major role in Deluxe Corp.'s acquisition of New England Business Service (NEBS) last summer.
Multi-Color Obtains NorthStar
CINCINNATI—Label manufacturing specialist Multi-Color Corp. has acquired NorthStar Print Group, the gravure and flexo label manufacturing subsidiary of Milwaukee-based Journal Communications. Printing industry financial advisors Compass Capital Partners represented Journal Communications in the transaction. In another deal, Compass Capital advised the owners of Fremont, CA-based Cellotape—Vestor Partners and Hunt Private Equity—in its sale to HT Capital Advisors.
Hilltop Orders Lithrone UV Press
INDIANAPOLIS—Hilltop Press, a division of National Graphics, placed an order for a six-color, 40˝ Komori Lithrone LS40 UV press. The new press will include an IST lamp system. The press was slated for installation last month. Hilltop specializes in printing on various substrates, including plastic, vinyl and lenticular.
Harris & Bruno, ESS Merge
Roseville, CA—Harris & Bruno acquired the assets and intellectual property of ESS Electro Spray Systems of Elk Grove Village, IL. Harris & Bruno will relocate all ESS business, including its product line of powder sprayer systems, infrared dryers and ink agitators to its headquarters here.
Complete Nets Speedmaster
MARIETTA, GA—Complete Printing Services has installed a six-color Heidelberg Speedmaster SM 74 sheetfed perfector with coater and Axis Control closed-loop color control in order to meet increasing demand for process, plus additional PMS color and metallic, printing. The printer is using its new hardware to produce pocket and presentation folders, booklets and envelopes.
ABS Adds Perfecting Press
ADDISON, IL—As part of a multi-million dollar capital investment initiative, ABS Graphics has acquired a six-color Komori Lithrone LS640/C/P sheetfed perfecting press. The 640/C/P features a new ink roller temperature control system.