Burton Family Now Owns Cenveo Stock Majority
STAMFORD, CT—In an update to shareholders, Cenveo Inc. Chairman and CEO Bob Burton noted that Cenveo’s operations continue to perform "according to our expectations and that our business plan remains on track.” He added that the company's end markets, including custom labels, direct mail envelopes, specialty packaging and commercial printing, remain solid and its backlog in those markets remains strong as the third quarter draws to an end.
“Our integration efforts of EPG have progressed well to date and we remain ahead of our integration plan milestones," he remarked. "As I have stated before, we fully expect to generate strong free cash flow and use these funds to pay down debt and to invest in our future. Based upon these trends I remain confident that we are on track to deliver on our financial targets for 2011.
“I am also pleased to report that the Burton family is now the largest shareholder of Cenveo," he added. "We have continued to acquire shares in the open market and through our employee stock purchase plan. We plan to continue to increase our investment in the company over the foreseeable future.”