PRINTING IMPRESSIONS 400 YEAR IN REVIEW -- Reflecting on 2003
Moore Corp. did not sit idle for long, making the first big merger and acquisition splash of the year with a $1.3 billion deal that merged the company with Wallace Computer Services to form Moore-Wallace. This was not the last time we would hear from Moore-Wallace in the M&A area.
A face from the past resurfaced in Palm Beach, FL, as former Mail-Well Chairman and CEO Gerald Mahoney assumed the role of interim CEO for Workflow Management. He was already a member of the company's board of directors. Tom D'Agostino Sr. stepped down as CEO and president, and took over as non-executive chairman. D'Agostino later resigned amid allegations that he misused company funds, and paid a $400,000 settlement. Mahoney then became chairman and Gary Ampulski was hired as CEO.
Speaking of Mail-Well, it sold off a portion of its Digital Graphics Division, for an undisclosed amount, to Group360. The locations sold were its Accu-Color facility in St. Louis, including a satellite operation in Atlanta; its Colorhouse plant in Dallas; and its NK Graphics facility in Keane, NH.
RR Donnelley settled several age and racial discrimination lawsuits for $21 million, stemming from allegations of workers at the now-closed The Lakeside Press facility. On a happier note, the company expanded its printing operations in Lancaster, PA, and Spartanburg, SC, as part of the company's 2003 capital spending plan of approximately $250 million.
Not such good news out of Dayton, OH, as Standard Register eliminated about 500 jobs after closing its rotary printing plant in Kirksville, MO, and consolidated four fulfillment centers. A new regional print-on-demand and fulfillment center was created in Dallas—closing two centers in Dallas, one in Oklahoma City and one in Spring Grove, IL.
Heidelberg handed over the reins to a gapless Sunday 2000 web press to the Rochester Institute of Technology in April at a dedication of the school's new 11,000-square-foot Heidelberg Web Press Lab. The press replaced a M-1000B web press that was donated in 1986.