STAMFORD, CT—Dean Cherry has been promoted to group president of Cenveo Inc.’s envelope, commercial print and packaging operations, Chairman and CEO Bob Burton announced. Cherry will be responsible for day-to-day operations of the units, which account for more than $1.5 billion in annual revenues. The company also announced other appointments: Andy Jobs as senior vice president, chief financial officer of the Cenveo’s envelope, commercial print and packaging operations; Ray Hartman as senior vice president, manufacturing and technology; Tony Paul as senior vice president, Cenveo East; Steve Kouroupas, senior vice president, Cenveo Central; Cappy Childs as senior vice president, Cenveo West; and Alex Vazquez as
Cenveo Graphic Arts Center
LOS ANGELES—Installation is now underway at Anderson Lithograph, a Cenveo company, for the first of two eight-color Heidelberg Speedmaster XL 105 presses with coaters. Both presses are equipped with the latest color control systems—Prinect Press Center with Intellistart, Wall Screen and Prinect Axis Control closed-loop color. The press currently being installed is a conventional machine,…
KENNESAW, GA—June 18, 2008—Installation is now underway at Anderson Lithograph, a Cenveo company (NYSE: CVO), for the first of two Speedmaster XL 105 8-color with coater presses from Heidelberg. Both presses are equipped with the latest color control systems — Prinect Press Center with Intellistart, Wall Screen and Prinect Axis Control closed-loop color. The press currently being installed is a conventional machine, while the second machine has both conventional and UV capabilities, plus Heidelberg’s special plastic kit to enable more efficient printing on plastics and synthetic substrates. The new presses will provide significant productivity improvements, enabling Anderson Litho to provide additional print capacity
LOS ANGELES—Anderson Lithograph, a Cenveo company, has signed an agreement with Heidelberg to install two eight-color XL 105-8+LX sheetfed presses. The presses are equipped with the latest color control systems and can print with both conventional and UV inks. They are expected to be installed and operational by July 31.In other company news, Chairman and…
STAMFORD, CT—Bob Burton drove home a simple message during a February conference call—he’s not going anywhere, but Cenveo’s stock price will soon be rising. Burton, chairman and CEO of printing’s fourth-largest player in the U.S., provided some updates on: The status of his company’s annual report, a change in his executive team, a major deal in the works and his increased commitment to the company. But the recurring theme was unmistakable; Burton’s prime goals are to see the company attain $3 billion in sales, $300 million of EBITDA and a stock price of $30 per share. Cenveo appears heading in the right direction to
STAMFORD, CT—An internal review is delaying Cenveo’s Form 10-K annual report filing as the company investigates “unsupported accounting entries made by a former plant controller for two plants in the company’s envelope division.” In a release, Cenveo said it required additional time to allow for the completion of the internal review. Based on current information, the company believes it will meet the annual financial targets relating to 2007 that it affirmed last month. According to Robert Burton, chairman and CEO, Cenveo was able to generate strong cash flow from operations during the fourth quarter and was able to decrease net debt by about
STAMFORD, CT—Dean Cherry has been named president of Cenveo’s envelope operations. He will report directly to Bob Burton, chairman and CEO of Cenveo. Cherry recently held the position of group president, Integrated Print Communications and Global Solutions, at RR Donnelley of Chicago.
STAMFORD, CT—In a note to shareholders, Cenveo Chairman and CEO Bob Burton stressed that, with recent volatility in financial markets and its share price, the company’s business plan remains on track. “I remain comfortable with the financial targets for 2007 issued on our last earnings call,” he said of 2007 results, which won’t be known until late next month. Burton added that the company generated strong cash flow from operations and was able to pay down “a meaningful amount of debt during the fourth quarter.” He also reiterated his 2008 guidance of more than $300 million of adjusted EBITDA and $130-plus million in free
STAMFORD, CT—Packaging solutions provider Rex Corp. is joining the Cenveo Inc. fold in an all-cash transaction. The amount of the deal, which is expected to close in the first quarter of 2008, was not disclosed.Jacksonville, FL-based Rex Corp. generates more than $40 million in annual revenues. It employs 170 workers.
BIG NAMES were on the move in 2007. It was a year in which major mergers and acquisitions jammed the headlines of our news pages. And some deals never quite got off the ground, while others are in a holding pattern. There was an explosion of headline grabbers to open 2007, led by a pair of major transactions and a political coup for the industry. Having been thwarted in his efforts to acquire Banta Corp. by RR Donnelley on Halloween 2006, Cenveo Chairman and CEO Bob Burton hammered out a deal to acquire Cadmus Communications for $24.75 a share, or a total of $430