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UPFRONT

April 2003
Kinko's Buys ImageX

DALLAS—Kinko's has acquired ImageX for approximately $16.5 million in cash. ImageX finished the fourth quarter with $12.3 million in cash and total assets of $25.2 million. Kinko's will use ImageX's technology to enhance its DocStore and Kinkos.com offerings. Kinko's does not now offer an online system by which customers can order business cards or stationery. But that will change once the acquisition is completed.

Watchtower Adds Web Presses

WESTMONT, IL—The Watchtower Society of the Jehovah's Witnesses is set to install seven MAN Roland Lithoman web presses in July, with two going to the U.S. and one each slated for Mexico, Brazil, England, South Africa and Japan. Each is a single-web, four-unit system in a 64-page configuration, capable of operating at speeds of up to 45,000 cylinder revolutions per hour. The new presses are slated to produce the society's two leading publications.

Cereus Celebrates Anniversary

PHOENIX—To celebrate its 30th anniversary, Cereus Graphics held an open house recently. In addition to providing an opportunity to show off the company's state-of-the-art, 37,000-square-foot plant, the event featured demonstrations of the company's new six-color Komori Lithrone S40 sheetfed press and seven-color HP Indigo 3000 digital press capable of variable data printing.

Crabar/Witt Buys Company

KANSAS CITY, MO—Amvest Financial Group, a national investment banking firm specializing in the printing industry, has announced the completion of the sale of its client, Edison Business Forms of Edison, NJ, to Crabar/Witt, Dayton, OH. Edison provides medium- to long-run unit sets and continuous sets, business form design, prepress, printing and collating of multi-part forms.

Flint Ink Launches Company

ANN ARBOR, MI—Flint Ink has created Jetrion, a new global company providing a full range of industrial ink-jet products, services and custom printing solutions. Reportedly, Jetrion will provide a unique combination of ink, hardware, software and services for continuous ink-jet (CIJ) and drop-on-demand (DOD) applications.

MAN Roland Cuts Jobs

OFFENBACH, GERMANY—The MAN Roland Druckmaschinen Group has launched a package of measures designed to save around EUR 130 million over the next few years. Fundamental objectives are to streamline the organization and thus accelerate reaction time to changing market conditions. The cost of the restructuring and a decline in sales mean that the company's pre-tax earnings of EUR 10 million are significantly lower than the previous year's figure of EUR 89 million. A total of 373 positions are currently being eliminated in the sheetfed press sector as part of the planned facilities consolidation measures. In addition, further personnel adjustments are planned for both the sheetfed and web press sectors, and for the sales companies.
 

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