Standard Register

DAYTON, OH—Standard Register is embarking on a renewal plan aimed at revitalizing the company, taking advantage of growth opportunities and creating increased shareholder value. The plan comes at a steep manpower cost—2,400 employees—nearly 30 percent of Standard Register's workforce will be laid off. The four-step plan, which features restructuring, reorganization, performance improvement and growth initiatives, is designed to generate total shareholder return of 30 percent per year over the next three to four years. The long-term goal is to position the company for sustained earnings growth. After four quarters of declining earnings, Standard Register named Dennis Rediker CEO in June of 2000, in the hopes that he

CHAMBERSBURG, PA—Some established GPO vendors maintained their place in the latest list of the GPO's Top 50 volume producers. Keeping the top spot was Montebello, CA-based Monarch Litho, which saw a 27 percent increase in its winnings to nearly $33 million. News Printing of Claysburg, PA, also increased its GPO volume and ranks again as the second-largest producer of printing for the federal government. While familiar faces to this list are prevalent from top to bottom, there are always some new faces. Two examples: Colonial Press International, a commercial sheetfed printer in Miami, and Larco International, a laser imaging and mail house located in

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)

(Editor's Note: The following was prepared by Compass Capital Partners, the printing industry's most active investment banker. Located in Radnor, PA, and headed by Chairman Harris M. DeWese, it represents only sellers and buyers of printing companies. Since 1996, Compass Capital has completed 47 transactions involving printing revenues exceeding $1.5 billion.) The U.S. printing industry is a bedrock of our economy. Yet, in this day of electronic communication, some are telling us that print-on-paper communication is about to be replaced by alternative media. Compass Capital Partners has been following the printing industry for 12 years. We have made our living from representing buyers and

Editor's note: Company rankings for the current and previous years are based on figures reported in 2000. Therefore, companies that revised their 1999 revenues may have changed their '99 ranking as compared with the ranking that appeared in last year's Printing Impressions 500. Similarly, the percentage change in sales is calculated on the most recent information provided.2000 Ranking:Previous Year's Ranking:Company:Total Sales (millions):Previous Year's (millions):Change (%):Principal Officer:Employees:Primary Specialties:Web Offset Units:Sheetfed Offset Units:Other:Ownership:Plants:1 1Quebecor World*, Montreal, Canada$6,540.00$6,160.00+6Charles G. Cavell44,000PUB 29%; ADV 20%; CAT 17%; DM 13%3,156985808Public 160*Parent: Quebecor Inc., Montreal, Canada  2000 Ranking:Previous Year's Ranking:Company:Total Sales (millions):Previous Year's (millions):Change (%):Principal Officer:Employees:Primary Specialties:Web Offset Units:Sheetfed Offset Units:Other:Ownership:Plants:2

There appears to be no shortage of cash when it comes time to pay the printing industry's top executives. This, Printing Impressions' 11th annual executive compensation report, highlights the industry's top money earners at publicly held printing companies. W. Ed Tyler, president and CEO of Moore Corp., appears at the top of this year's ranking with total compensation of $2,360,362. He replaces 1999's top-paid executive, Shorewood Packaging's Marc Shore, who does not appear this year following a merger with International Paper. For those executives appearing on the 2000 ranking, the previous year's salary and the percentage of change in compensation from this year to

DAYTON, OH—Standard Register (SR), the $1.4 billion electronic and paper document management company based here, has seen a number of major changes to its operation in recent weeks, and heads into the second half of 2000 a significantly different company. Topping the list of changes is a change at the top: Chief executive Peter Redding departs this month. Redding, 62, is retiring. Taking the helm is Dennis L. Rediker, 56, former CEO of English China Clays plc and a Standard Register board member for five years. "Dennis is a visionary leader with superior team-building skills," explains Paul H. Granzow, SR's chairman. "He has

BY HARRIS DEWESE (Editor's Note: Harris DeWese is a principal at Compass Capital Partners and an author of the annual "Compass Report," the definitive source of information regarding printing industry merger and acquisition activity.) Most of you are busy managing independent, privately held printing companies. Some of you lead large, public printing companies. A handful of you run a company you redefined as being in the "communications industry," though presses throb a few steps from your door. Others work to prepare an e-commerce printing Website for an IPO—occasionally dabbing saliva from their chins. For all of you who are very busy and have little

CORNING, IA—Dayton, OH-based Standard Register (SR), looking to reduce manufacturing costs, says it will close its forms printing plant here. The company also announced the phasing out of its Dayton-based production of certain forms-handling equipment products. Additionally, SR will consolidate field sales and support management, which officials say will result in improved operating efficiencies, and position the organization to capture market growth opportunities. The company will also offer an enhanced early retirement option to a number of its Dayton-based corporate headquarters employees. Officials say these actions are expected to result in a first quarter 2000 restructuring charge in the range of $15 million to

BY CHRISTOPHER CORNELL If you spent any time at all in 1998 reading the quarterly reports issued by publicly traded printing companies, you are probably up to your Y2K-compatible eyeballs with the term "record-breaking." But as the year draws to an end, it's clear that the phrase will be remembered as the one that most describes it. In previous years, consolidation was an interesting sidelight to other major events in the graphic arts industry. In 1998, it was all about consolidation. More than $3 billion was spent by larger fish swallowing up smaller ones, and while a few big names led the charge, they