Cadmus Communications Corporation

BY MARK SMITH This year's election proved to be an all too painful reminder that making predictions can be a very risky business. Dating back to the introduction of radio and then TV, a dire future has been predicted for magazine publishing time and time again. All the while, the number of titles and total page counts has continued to rise. So far, the same trend is shaping up for the warnings sounded about the impact of the Internet on printed publications. The Internet actually has had the opposite effect on the market, with Internet-related titles being one of the fastest-growing categories and Websites/companies

If you know the name of a printing company that you think appears on the Printing Impressions 400 list, but you're not sure of its ranking, here's an easy way to locate that firm. Simply find the company in the alphabetical listings on this page. In addition to each company's name and headquarters location, a corresponding number appears indicating that firm's ranking on the Printing Impressions 400. ABS Graphics (Addison, IL) 400 Action Printing (Fond du Lac, WI) 353 Adams Business Forms (Topeka, KS) 96 AdPlex Inc. (Houston, TX) 102 Advance Business Graphics (Mira Loma, CA) 153 AFL Web Printing (Voorhees, NJ)

Financial printing is benefiting from a robust M&A market, continued mutual fund surges and (surprise!) the Internet, as 2000 sets its sights on Wall Street. In 1997, the financial printing market was considered by some financial printers to be the hottest bull market in modern history. By the end of 1998, the same financial printing insiders were less enthused, dubbing 1998 a year of difficult "highs and lows," as the financial printing market and its lifemate—Wall Street—rode out a year that, for the market's competitive printers, was burdened with a dramatic downturn of transactional business. Then came 1999—thank goodness. Top 10 Financial Printers CompanySegmentSales(millions)Total Sales(millions)1R.R.

Publication printers are rising to meet the demands of rapid technological change, competition from the Internet and the changing whims of publishers. Will 2000 carry a darker dawn for this segment? Yes and no. BY MARIE RANOIA ALONSO As 1998 came to a close, the outlook for the publications segment was bright, despite the consolidation of titles that impacted the market's major players. Overall, the minds of the publications market called for continued growth for the segment throughout 1999, with particular emphasis on the hearty performance of the special-interest title. In total, while the projection for the publications market going into 1999 was conservative,

BY CHRISTOPHER CORNELL Each little drop in the bucket doesn't amount to much, but after a while it can turn into a torrent; that's the metaphor that applies to the graphic arts industry in 1999. Each individual merger and acquisition during the course of the year didn't affect the industry that much, but, in the aggregate, 1999 will likely be remembered as the year in which the number of companies in it noticeably shrunk. The biggest news story of the year was one just about everybody saw coming. Just after mid-year, following weeks of industry speculation, Quebecor Printing and World Color Press signed a

BY ERIK CAGLE It didn't take long for C. Stephenson Gillispie Jr. to appreciate the importance of swift and certain decision making. On one occasion, his life and those of several other people depended on it. Gillispie developed a love of flying in his twenties. During that period, he was piloting a single-engine aircraft out of St. Thomas, in the U.S. Virgin Islands, when the engine stalled at 600 feet during takeoff. It would take approximately one minute for the plane to return to earth. He had three landing options: a mountain on the left, the town straight ahead and a bay on the

With its recent acquisition of the Mack Printing Group tucked away, Cadmus looks to conquer greater territories in select, niche markets—with an eye on journals, magazines, periodicals and packaging. What is the vision behind Cadmus' strategic plan? C. Stephenson Gillispie Jr. offers a few clues. BY MARIE RANOIA ALONSO THE START of Spring marked the start of what may be the most lucrative of years for Cadmus Communications, which, on April 1st, announced it had acquired Mack Printing Group—a leading producer of journals, magazines and periodicals with annual revenues of approximately $165 million—for the purchase price of approximately $200 million, consisting of cash,

EASTON, PA—Richmond, VA-based Cadmus Communications has acquired The Mack Printing Group, based here, and its subsidiaries. Mack is a $165 million producer of journals, magazines and periodicals. The purchase price was approximately $200 million in cash, seller-provided subordinated debt and Cadmus common stock. Cadmus officials say this acquisition continues its strategy of creating leadership positions in select, niche markets. The addition of Mack increases Cadmus' annual revenues by more than 40 percent and solidifies its position as the world's leading producer of scientific, technical and medical (STM) journals. The acquisition brings to Cadmus new capabilities to better serve the fast-growing "short-run" segment of

Paper manufactured overseas is comparatively inexpensive and readily available, but what's its long-term potential for commercial printers here in the United States? BY ERIK CAGLE Like Beanie Babies and baseball cards, foreign paper has become too much of a good thing. The respective markets all reached a saturation point, but when it comes to paper, you won't hear any printers complaining about the situation. Collectors may bemoan the dwindling value of Rainbow the Unicorn or a 1984 Fleer Update Kirby Puckett, but it's not likely the decline in price for Phoeno Star No. 2 is going to make a commercial printer throw a mug

BY ERIK CAGLE Let's face facts. Paper is not exactly chic these days. There is nothing more appalling than a printing commodity strutting around while wearing last year's price tag. Unless, of course, you're a paper purchaser for a commercial printer. Unchanged prices make this person the most popular man/woman in the eyes of estimators and the person drawing up the next budget. That explosion you heard was definitely something else, not an increase in paper prices. Uncoated free sheet experienced a first quarter boost in some circles, but a number of observers wonder if they will take hold. In short, nothing's changed since