S. Rosenthal in Merger Deal
CINCINNATI—Veteran printer S. Rosenthal & Co. has merged with Reach Publishing Systems. As part of the agreement, Donald Rahilly, president and CEO of S. Rosenthal, becomes chairman of the combined companies. Robert Slattery, Reach founder, becomes president and CEO.
Proforma Helps Raise Relief Aid
CLEVELAND—Proforma franchise owners, in conjunction with an effort sponsored by the Advertising Specialties Institute (ASI), have helped raise more than $500,000 worth of disaster relief materials to aid the victims of the recent rash of hurricanes that have ravaged parts of Florida.
Setzer, 81, Hickory Printing Vet
CONOVER, NC—Lewis "Pete" Setzer, 81, senior vice president of The Hickory Printing Group, died recently after a brief illness. In his 50 years with the company, Mr. Setzer held a variety of jobs including press operator, plant manager and general manager, and often wrote how-to articles for the company newsletter. He was also a decorated U.S. Air Force veteran, serving as a captain in both World War II and the Korean War.
Quad Finalizes Parcel Direct Deal
SUSSEX, WI—Quad/Graphics has completed the sale of its Parcel Direct division to FedEx for $120 million. FedEx announced that Parcel Direct will operate as a subsidiary of FedEx Ground. Parcel Direct specializes in the consolidation and deliveries of high volumes of lower weight, less time-sensitive packages. It employs about 450 people in 12 nationwide distribution centers.
Allen to Head Xerox Group
ROCHESTER, NY—Quincy L. Allen has been named president of the Production Systems Group at Xerox Corp. He will be responsible for the company's high-end systems, software and service offerings for the graphic communications industry, including production publishing, transaction printing and enterprise-wide printing.
Wausau Paper to Buy Missota
MOSINEE, WI—Wausau Paper has reached an agreement to obtain the assets of Missota Paper, a specialty manufacturer of uncoated freesheet paper, for $9.6 million. The assets will become part of Wausau's Printing & Writing business segment upon closing of the deal, scheduled for mid-November. As part of the deal, Wausau acquires Missota's Brainerd, MN, mill. The facility includes two paper machines and finishing equipment.
Quebecor World Renews Program
MONTREAL—Quebecor World has renewed and amended its U.S. trade receivables securitization program. The $510 million program, which has been in place since 1999, has been extended through Sept. 28, 2005. The program has also been amended to give Quebecor World the option to extend the term of the program for an additional year. The renewal and amendment extend Quebecor World's liquidity horizon under the program to 24 months.