PI 400 -- Financial Printing - It's Been a Bear of a Year
BY CAROLINE MILLER
When the ball dropped on Times Square at midnight on January 1, 2001, no one could have imagined how challenging this year was going to be for the printing industry.
|Top 10 -- Financial Printers|
|1||Bowne & Co.
|2||R.R. Donnelley & Sons
St. Paul, MN
Jersey City, NJ
|5||IKON Office Solutions
|7||Applied Printing Technologies
|8||Henry Wurst Inc.
N. Kansas City, MO
New Providence, NJ
|Sales figures are based on above printers'
self-reported total and market segment breakdowns.
While 2001 has been a difficult year for everyone in the graphic arts industry, the financial printing segment has been hit especially hard—first by the economic downturn and then by the September 11 terrorist attacks on the World Trade Center and the Pentagon.
"Without question, 2001 has been a challenging year for the financial printing industry," admits Paul Masterton, president for R.R. Donnelley Financial.
"On the capital markets side, this has been the most formidable year for financial printing since the stock market crash of 1987. This was true even prior to the tragedies of September 11, and the uncertainty that has followed," he adds.
Throughout the year, Donnelley Financial reported seeing the number of deals slow, with filings down 7 percent as compared to the prior year. That decline is comprised of a 68 percent reduction in IPOs, a 12 percent decline in mergers and acquisitions, and an 18 percent decrease in secondary deals. The situation was exacerbated by a simultaneous decline of deal flow in both Europe and Asia, according to Masterton.