Pictorial Offset announced that it is closing its doors after 78 years after a legal tussle with its insurance company. The closure, which is expected to take place in the next two weeks, will result in the loss of 113 jobs.
A northern New Jersey printer has gone to court in its efforts to recover what it feels is just compensation for its insurance claim in the wake of Superstorm Sandy, according to The Record. Pictorial Offset is seeking $37 million for storm-related damage to equipment it claims continues to hamstring its operation, the newspaper said. The printer contends the electronics and electrical systems of several pieces of equipment no longer work properly due to damage from electrical surges during the storm.
CARLSTADT, NJ—A New Jersey printer has gone to court in its efforts to recover what it feels is just compensation for its insurance claim in the wake of Superstorm Sandy, according to The Record.
Nearly two years after Superstorm Sandy socked North Jersey, a Carlstadt printer has filed suit against its insurance company seeking $37 million for storm-related damage to machines that continues hamper its operations.
The lawsuit filed by Pictorial Offset says the electronics and electrical systems of several printing machines still don't work properly due to damage from electrical surges during the storm.
Insurer Zurich American Insurance Co. of Illinois refuses to pay for the damage to the machines, arguing that it was "caused by the flood, rather than electrical overstressing prior to flood," said the suit, which was filed in U.S. District Court
Pictorial Offset of Carlstadt, NJ, turned to Solis Partners, of Manasquan, NJ, to install solar panels at its facility. Solis designed, engineered and constructed the 2,968-panel system that, so far, has reduced Pictorial's electric bill by 40 percent. Touted as the largest solar panel installation by any commercial printing company in the United States, the installation has (at press time) generated 1.15 million kWh since the installation, enough to power 1,255 houses for a month.
Pictorial’s solar array consists of 2,968 panels that will generate more than 20 percent of the printer’s annual electricity usage. “Pictorial Corp.’s commitment to environmental stewardship is one of our principal business objectives,” said Donald Samuels, managing partner.
Thirty nationally-recognized companies are sponsoring the Printing Industries Alliance’s upcoming 2010 Franklin Event to date. More than 500 senior executives from the printing, advertising, publishing and graphic sectors are expected to attend the popular annual gala scheduled for Wednesday, September 29.
Pictorial is being honored by the Partnership in Print Production (P3) Network for more than 25 years of sustainable practices.
Entering its 23rd year, the Partnership in Print Production (P3) Network Luminaire Award recognizes the outstanding achievements and personal dedication of print professionals who are committed to educating themselves and others, and who are innovators in their field.
Pictorial Offset Corp. has been named a Green Power Partner by the U.S. Environmental Protection Agency (EPA). Through this accomplishment, Pictorial will significantly reduce the risks associated with climate change by supporting technologies that are more sustainable for business and communities.