Presstek Inc. has completed and closed on a new $50 million senior secured credit facility jointly with a bank group comprised of Citizens Bank of New Hampshire, part of the Citizens Financial Group, and KeyBank N.A., both commercial lenders. Citizens will lead the bank group as administrative agent and KeyBank will serve as documentation agent.
Joe DiChiarro Sr., a long-time employee of INX International Ink, has passed away. DiChiarro joined the company through the former Acme Printing Ink in 1962. Most recently, he served as vice president of operations for the offset division. He was an active participant in NAPIM, NPIRI, WOA, IMDA and the Chicago Printing Ink Association. In 2002, he received the NAPIM Printing Ink Pioneer Award.
Oxy-Dry Corp. has filed a lawsuit against a former employee, Timothy Reed, and his subsequent employer, Elettra Inc., alleging that both Reed and Elettra misappropriated Oxy-Dry's confidential information and trade secrets. The complaint seeks permanent injunctive relief preventing disclosure of trade secrets, damages for trade secret misappropriation and the recovery of attorney fees.
Creo Inc. has reached an agreement to purchase the IntelliNet NewsFlow production workflow system product line and the integrated PressSite press control interface for newspapers from HiT Internet Technologies.
American Roller, a Union Grove, WI-based roller manufacturer, announced that it has purchased Champion Roller of Rock Hill, SC.
KBA North America has signed a licensing agreement with Air Motion Systems, granting KBA worldwide rights for the production, further development, distribution and servicing of dryer systems from Air Motion Systems for installation in KBA's Rapida sheetfed presses.
Sun Chemical has appointed Mark Levin as corporate vice president, North American publication inks. Levin now directs sales of inks and coatings to the publication market, which includes primarily heatset and gravure printers. He joins Sun Chemical from Heidelberg Web Systems, where he most recently was senior vice president of sales.