Safeguard Acquired by NEBS
DALLAS—New England Business Service (NEBS) plans to acquire Safeguard Business Systems in a $72.5 million all-cash transaction. The cash proceeds will be used to acquire all company stock, as well as to retire revolving loans and term loans with Safeguard’s financial institutions. Safeguard will operate as a wholly owned subsidiary. This is a strategic move for both companies, allowing each to create competitive advantages in the marketplace. The company employs approximately 850 people, primarily in Dallas, Atlanta, Los Angeles and Philadelphia.
Milwaukee Paper Gets KBA Press
MILWAUKEE—The Milwaukee Journal Sentinel has installed three new Commander presses by KBA North America. The presses are located in the paper’s new $112 million printing center, located in the suburb of West Milwaukee.
President of Hadronics Dies
CINCINNATI—Fredric H. Harding, 72, died on March 22, 2003, of a brain aneurysm. Mr. Harding was a co-partner in the purchase of Hadronics and served as the company’s president in addition to being a director. In 1995, he was a co-partner in the purchase of Graphics Systems Services (formerly AM Graphics), and served as a director. Kenneth Green, formerly executive vice president of Hadronics, will now move into the position of president.
Drupa 2004 Sells Out
DÜSSELDORF, GERMANY—All 17 halls, nearly 1.7 million square feet of net exhibit space, have been sold out nearly a year before the start of Drupa 2004. Drupa organizers expect over 1,800 companies to display their products at Drupa 2004 to more than 370,000 visitors. The event will take place May 6-19, 2004, at the fairgrounds here.
Roanoke Times Updates Plant
DOVER, NH—The Roanoke Times has installed a Heidelberg Magnapak packaging system. The installation is part a $31.6 million upgrade to its production facilities. Phase two of the facilities upgrade will include the installation of the first Heidelberg gapless Mainstream press in the United States. The press install is expected to be complete by late fall. A Heidelberg NP200 gripper conveyor will carry papers from the press, through a walkway over a street, to the postpress area.