Quad Facility Suffers Fire; Debt Offering Issued
TAUNTON, MA—A Saturday night fire caused damage to the roof of a Quad/Graphics facility here, the Taunton Gazette reported. There were no injuries reported. The plant is used for printing retail inserts.
In other Quad/Graphics news, the company announced that it has priced a private offering of $300 million of its 7 percent senior notes due 2022. The offering is expected to close on April 28, 2014.
The Sussex, WI-based printer expects to use the net proceeds from the notes offering and the previously announced extension and increase of its senior secured credit facility to: (1) repay its existing term loans, revolver borrowings and an international term loan; (2) fund the acquisition of Brown Printing; and (3) for general corporate purposes.
Strine to Retain Employee Roster Following Deal
NEENAH, WI—Menasha Packaging will not be reducing the head count at Strine Printing, the York, PA-based firm it acquired on March 31, according to the York Dispatch. All 325 employees will keep their jobs, Menasha Vice President of Marketing Dennis Bonn told the newspaper.
Both companies are family owned. Menasha Packaging has more than 3,600 employees operating in 40 locations across the United States. Menasha specializes in packaging materials and shipping containers, while Strine specializes in point-of-purchase/point-of-sale materials and packaging. With sales of $96.8 million, Strine ranked number 58 on the 2013 Printing Impressions 400.
Terms of the acquisition were not revealed. Menasha owns five other locations in Pennsylvania.
IN Printing and Packaging Plant to Close in June
EVANSVILLE, IN—Chesapeake Pharmaceuticals and Healthcare Packaging will be closing its doors in June, leaving 59 employees out of work, WFIE-TV reported.
Employees were notified of the decision in a meeting last Tuesday. The closure is slated to fall between June 17 and 27. The company filed a WARN notice with the Indiana Department of Workforce Development in accordance with federal law.
Playboy Reprint Raises Price, Interest in Magazine's Debut
NEW YORK—Diamonds may be a girl's best friend, or so legendary bombshell Marilyn Monroe once cooed, but magazine reprints may just do the trick for men.
The late, iconic actress caused a sensation 60 years ago when she appeared on the cover of Playboy magazine's debut issue of December 1953. Now, for the next 12 weeks, a reprint of the watershed issue will be available on newsstands, an exact replica of the original in virtually every sense but one: at $9.99, it's $2 above the regular newsstand price.
According to FOLIO: magazine, fewer issues were printed than the magazine's typical run. Even subscribers will have to hit the local stand or order a copy online.
Since there is no new advertising in the issue, Playboy will be relying strictly on sales.
EFI Posts 10 Percent Q1 Revenue Growth
FREMONT, CA—Electronics For Imaging (EFI), a global provider of customer-focused digital printing technologies, announced its results for the first quarter of 2014.
For the quarter ended March 31, EFI reported record first quarter revenue of $188.7 million, up 10 percent compared to Q1 2013 revenue of $171.4 million. First quarter 2014 non-GAAP net income was $20.4 million or $0.42 per diluted share, up 29 percent and 27 percent, respectively, compared to non-GAAP net income of $15.8 million or $0.33 per diluted share for the same period in 2013. GAAP net income was $10.1 million or $0.21 per diluted share, up 21 percent and 24 percent, respectively, compared to $8.4 million or $0.17 per diluted share for the same period in 2013.
"The EFI team kicked off 2014 with another very strong quarter, delivering revenue and profitability above our expectations," said Guy Gecht, CEO of EFI. "With upcoming product innovations across the portfolio we expect to see solid demand throughout the year as our technology continues to help customers around the world drive growth and productivity in their businesses."
Paper Chase: Load Dumped Onto I-95 in CT
NORWALK, CT—An accident involving two tractor-trailers resulted in a load of paper rolls being spilled onto I-95 here Tuesday morning, the Fairfield Daily Voice reported. The driver of one rig was transported to Norwalk Hospital with minor injuries.
The accident, reported at 5 a.m., caused the right and center lanes of northbound I-95 to be closed until after rush hour.
According to the paper, one tractor-trailer struck the second, which was parked on the shoulder of the road just past the entrance ramp for exit 16. The rig that was moving had a payload of 20 paper webs weighing 2,400 pounds each. The collision caused the trailer to split open and buckle under the burden of the weight.
Some rolls of paper weighing upwards of 600 pounds each fell onto the highway, according to the Daily Voice.
Experts Discuss Shift to High-Speed Inkjet Printing for Book Manufacturing (Free Webinar Still Available On-Demand)
PHILADELPHIA—April 17, 2014—In the "Inkjet: The Implications for Book Printing Manufacturers and Publishers" Webinar recently presented by Book Business and Printing Impressions, and sponsored by Canon Solutions America, more than 300 registrants learned about emerging technologies for book production, the business impact of high-speed inkjet on the publishing market, and the traditional offset vs. high-speed inkjet digital business model.
Presenters included InfoTrends Group Directors Barb Pellow and Jim Hamilton. Pellow noted that consumer expectations are changing, and for the past few years, the industry has been talking about a shift in digital book manufacturing, driven by changing balance sheets and publishers' needs to better manage inventories. "While publishers' needs have existed for quite some time, the challenge has always been developing digital printing technology capable of achieving the quality, speed, flexibility and affordability of offset printing," she said.
Hamilton focused on book publishing and the changing market dynamics of this segment. To explain where print fits in to the mix, he took a look at the long-run, short-run, print-on-demand, and interactive (custom books, self-publishing, photo books) platforms. "Today all publishers would agree that content is king. They have developed new business models, and have adapted to a digital-first mode of publishing. Just about everyone is now using just-in-time manufacturing and print-on-demand methods in ways they never would have imagined 10 years ago."
Jim Hamilton, in his recent InfoTrends blog post, also answered some of the questions about books and inkjet printing technology from this Webinar. Click here to read.
Registrants of this Webinar reported positive feedback. Here are just a few of the comments:
"It was a good overview of the market, and where the segments are going."
"Enhanced my understanding of digital printing and its ever-increasing popularity."
"The Webinar presented various ideas and processes in conjunction to illustrate how to make a better workflow and deliver a quality product."
"The presenters did a nice job explaining and giving examples of digital e-books and the process comparison to conventional book printing."
Click here to register and watch the Webinar on-demand.