CGX's AGS Custom Graphics Acquires Assets of Modern International Graphics
MACEDONIA, OH—Feb 01, 2010—Consolidated Graphics, Inc. (NYSE: CGX) announced today that AGS Custom Graphics has acquired certain assets of Modern International Graphics, Inc. and Modern Logistics, Inc. headquartered in Eastlake, OH, near Cleveland. Terms of the transaction were not disclosed. Modern International Graphics ranked #308 on the most recent Printing Impressions 400 listing with $15.87 million in sales.
Modern International was founded in 1958 and is one of the leading commercial printing companies in the Cleveland area. Owner David Margiotta and certain other employees of Modern International Graphics and Modern Logistics have joined AGS Custom Graphics. Margiotta will serve as President of AGS Custom Graphics while Stan Ritter will serve in a new capacity as Senior Vice President and Business Manager. AGS Custom Graphics will continue servicing the customers of both Modern International and Modern Logistics.
Commenting on the acquisition, Joe R. Davis, Chairman and CEO of Consolidated Graphics, Inc., stated, "Dave Margiotta has a great reputation for providing first class service as well as highly sophisticated technology solutions to his customers. With the additional resources of Consolidated Graphics behind him and his team of excellent salespeople, I am confident that they will exceed every customer expectation."
AGS Custom Graphics Senior Vice President and Business Manager Stan Ritter added, "Dave's background in sales will be a tremendous asset to us as we continue to service our customers and provide best in class technology and print solutions."
David Margiotta, President of AGS Custom Graphics, said, "I have always admired the Consolidated Graphics business model and am looking forward to leading AGS Custom Graphics as well as having the financial strength and resources of Consolidated Graphics behind me and my team."
About Consolidated Graphics
Consolidated Graphics, Inc. (CGX), headquartered in Houston, TX, is one of North America's leading general commercial printing companies. With 70 printing businesses strategically located across 27 states, Toronto, and Prague, we offer an unmatched geographic footprint, unsurpassed capabilities, and unparalleled levels of convenience, efficiency and service. With locations in or near virtually every major U.S. market, CGX provides the service and responsiveness of a local printer enhanced by the economic, geographic and technological advantages of a large national organization.