Formetco Announces Sale of Grand-format Printing Division to Outdoor Image
DULUTH, GA—October 8, 2013—Formetco announced the sale of its grand-format printing division today to Outdoor Image. The new company will continue to employ all the Formetco employees directly connected with the former print division. With the recent growth in the LED Digital Billboard market, Formetco has responded by focusing on expanding its share and maintaining its leadership position and focus on its LED Digital Sign product lines.
Outdoor Image is owned by Boxwood Capitol an investment company controlled by Russell Currey. The general manager of Outdoor Image is Ralph Ward. Both Ward and Currey have backgrounds in high-graphics paper packaging and an understanding of the technology used in grand-format printing.
Formetco is recognized as the world's largest full service provider to the outdoor advertising industry and has been supplying printed signs to the outdoor advertising industry for nearly 20 years. In that time, technology has evolved considerably. Formetco has invested heavily in ensuring that it carries the highest grade materials, inks, and equipment that can satisfy the increasing demand for eco-friendly printed signs. Outdoor Image plans to continue and expand on this methodology as it grows into new markets.
Ward, Outdoor Image’s new general manager commented: “We understand that Formetco has established a high reputation for quality and service to the outdoor advertising industry. We are committed to living up to that high standard of excellence.”
Jason Gribble, director of marketing and former print operations manager, also added: "Formetco's print division has been operating 24 hour day work schedules for a couple of years. This has been a vibrant part of our business, but I'm excited about our decision to narrow our focus further toward our established hardware products and LED Digital Signs."
Formetco and Outdoor Image officially completed the transaction on October 1, 2013. In order to ensure a smooth transition for staff and customers, Outdoor Image will operate from Formetco's print warehouse located in Duluth, GA, for the time being. Eventually, operations will be moved into a new facility nearby, where additional equipment and staff may be added as Outdoor Image continues to extend its lead position in supplying affordable, quality outdoor prints.
"We are all excited that this has been such an easy transaction," said Matt Xander, president and CEO of Formetco. "We looked hard for a company that would take our Print Division to a new level and provide all the necessary attention to give our customers the same level of service they have come to expect from Formetco. We will offer 100 percent support to Outdoor Image to make the transition as seamless as possible for all parties involved."