Angstrom Graphics Closing Florida Facility
HOLLYWOOD, FL—The free-fall from the top continues for one of the nation's once-prolific commercial printing companies. Angstrom Graphics, led by CEO Wayne Angstrom, plans to shut down its facility here and lay off 161 employees, a move that is expected to take place by Aug. 6, the South Florida Sun-Sentinel reported.
Angstrom Graphics, which ranked 104th on the 2010 PI 400 list of printers with $46 million in revenues, will retain a creative services business in Hollywood, employing 19, according to the Sun-Sentinel. It also operates a printing plant in Cleveland.
"The economic conditions during the last three years in this country and Florida have resulted in the Hollywood plant no longer being financially viable," Angstrom told the paper.
The company was once the U.S. division of London-based St Ives. As recently as 2003, it ranked 32nd on the PI 400 with sales of nearly $169 million. Angstrom led a management buyout in 2009.