R.R. Donnelley to Purchase Penton Press
BEREA, OH—Chicago-based R.R. Donnelley & Sons has signed a definitive agreement to purchase Penton Press, the printing division of Cleveland-based Penton Media, a business-to-business media company, located here. Along with the purchase of the plant and its equipment, the agreement includes a seven-year contract to print more than 30 of Penton Media's publications. Terms of the transaction were not disclosed.
Following the close of the transaction, which was expected to take place by the end of 1999, the facility will operate as part of R.R. Donnelley's Specialized Publishing Services (SPS) division, the group within the Magazine Publishing Services business unit that focuses on shorter-run production. The 128,000-square-foot printing plant, situated on 12.5 acres in suburban Cleveland, employs 260 workers.
"Since adding short-run publication printing to its capabilities six years ago, R.R. Donnelley has established a strong reputation in this arena. Donnelley's focus on delivering quality, innovation and value-added services has been successfully extended to publishers of highly targeted, business-to-business and specialty consumer magazines," notes Edward E. Lane, president of Donnelley's Specialized Publishing Services. "This acquisition will allow us to serve even more customers in this attractive and growing market."
Thomas L. Kemp, CEO of Penton Media, adds: "The Press has been an important part of Penton's history, and I am quite pleased that the plant will now be part of the industry's premier printing company. This is good for the Press' employees and good for Penton Media, as we begin a seven-year partnership with a company that can provide a wider range of services and manufacturing and distribution efficiencies for our publications."
"Penton Press brings us important benefits," explains Lane. "Geographically situated in the Midwest, the plant provides national distribution advantages. Also, consistent with our focused plant strategy, we will be able to redistribute work across our entire platform to ensure that each manufacturing facility has a consistent and common work mix. And, the plant's management and craft workers are well-trained and experienced. All these factors should create significant value for our customers and our company."