Valassis Nixes ADVO Deal
LIVONIA, MI—Alleging fraud, Valassis Communications has sued ADVO in chancery court to rescind its $1.3 billion merger agreement. Valassis alleges ADVO intentionally provided false information and “withheld material information” regarding operating income. The suit also alleges ADVO executives knew of significant internal control deficiencies associated with ADVO’s order-to-cash system. ADVO sees the move as “merely a smokescreen to hide the fact that Valassis is suffering from an extreme case of buyer’s remorse,” and plans to contest the action.
Quad Hits the West Coast
SUSSEX, WI—Quad/Graphics has ventured west with the acquisition of Craftsman Press West, based in Reno, NV. The facility becomes Quad’s tenth, joining sister plants in Wisconsin, New York, West Virginia, Georgia and Oklahoma. The deal won’t create additional capacity for Quad. It plans to replace Craftsman’s existing press lines with newer, advanced presses that are already in use at other Quad facilities.
Alcoa Employee Found in Baler
DOWNINGTOWN, PA—An unidentified Alcoa Flexible Packaging employee was found dead on July 24 in a paper baler, the Daily Local News of West Chester reported. Alcoa representatives told the paper it appeared the man died of natural causes. Rescue personnel took 45 minutes to remove the employee from the baler, the paper said. Vicki Welsh, director of marketing communications for Pittsburgh-based Alcoa, said the company would not comment until an investigation is completed.
Martin Edwards Passes Away
ANN ARBOR, MI—Martin (Marty) Edwards, chairman of book and journal manufacturer Edwards Brothers and a 2001 inductee into the PRINTING IMPRESSIONS/RIT Printing Industry Hall of Fame, passed away at the age of 74. Mr. Edwards became its president in 1975. He received the Signature Award for Lifetime Achievements from the Book Manufacturing Institute (BMI) in 2001.
Synergy Lands Scoville
PLYMOUTH, MN—Synergy Graphics has acquired the web, mailing and fulfillment assets of Scoville Press, based here. Terms of the deal were not disclosed. The acquisition allows Synergy Graphics to bolster its commercial printing offerings, which will now include web, sheetfed and digital printing. The deal brings the company in-house mailing, fulfillment, finishing and other postpress capabilities.