Following a third quarter loss of $5.2 million, Valassis Communications announced it had cut 100 jobs, the Detroit News reported. Valassis was also removed from the Standard and Poor’s MidCap 400 index after its market value dropped the company to last among the ranking of 400 mid-sized firms.
NOW IN its 25th year, the Printing Impressions 400 provides the industry’s most comprehensive ranking of the leading printing companies in the United States and Canada. The listings include company name and headquarters location; parent company, if applicable; current and previous year’s rankings; most recent and previous year’s fiscal sales; percentage change; primary specialties; principal officer(s); as well as number of employees, manufacturing plants and total press units.
Perfecting Press Doubles Production BRAINTREE, MA—A six-color, 40˝ Heidelberg Speedmaster SM 102 perfector press with aqueous coater has been added at G.H. Dean Printing, and it has been twice as productive as the older press it replaced, reports CEO Ken Michaud. The new machine, which is the second six-color SM 102 perfector at G.H. Dean, is turning a lot more jobs in a shorter time due to the high degree of automation. Founded in 1889, the all-Heidelberg shop is a third-generation, family owned commercial printing and direct mail business that serves a regional clientele comprised of advertising agencies, marketing, financial services and healthcare companies,
WIDENING OF the wage disparity between the ranks of top executives and workers has been getting some play in this presidential election season. So how does the take-home pay of the top printers stack up? Printing Impressions’ 18th annual executive compensation report highlights the earnings of principal officers at the largest publicly held printing companies. There was a significant shake-up of the list this year. Several top executives—and companies—dropped from the ranks as a result of the major merger/acquisition activity in 2007. Other companies had personnel changes at the top, and a few repeat executives saw their compensation totals dramatically impacted by the lack
Sixth KBA Installed At Imagine! Print SHAKOPEE, MN—A new six-color, 41˝ KBA Rapida 105 Universal perfector with UV capability is now up and running in the 400,000-square-foot facility of Imagine! Print Solutions. The new Rapida—which is equipped with full automation packages, including auto plate loaders, auto washup and a scanning spectrophotometer—is the sixth KBA press installed by Imagine!. Press Credited For Benny Award CHICAGO—In 2006, Abbott Printing purchased a five-color, 29˝ Heidelberg Speedmaster CD 74-5-P+L perfector with aqueous coater. A year later, the Maitland, FL-based printer won its first PIA/GATF Benny Award. Art Abbott Jr., co-owner, credits the new Heidelberg
Newspaper Expands Capacity CHEYENNE, WY—The Wyoming Tribune-Eagle shelled out $14 million for the expansion of the company’s headquarters and production center here. The improvements are scheduled around the installation of a MAN Roland Uniset 75 web press, which is slated to be delivered next January. The Tribune-Eagle is Wyoming’s second-largest daily newspaper. Press Worker Suffers Injury PITTSBURGH—A man had to be rescued from the printing press at Liberty Pittsburgh Systems on Neville Island March 12 after catching his hand between the machine’s rollers. The unidentified man, in his early 50s, got his hand caught around 6:30 that morning. Ohio Township firefighters and rescue workers needed about 90
Valassis, ADVO Settle, Merge LIVONIA, MI—After several months of acrimony, Valassis and ADVO have decided to patch their differences and merge. The sides have dropped their chancery court case and will move under one roof via a renegotiated $1.2 billion deal, at $33 per share for the outstanding common shares of ADVO stock. The deal is expected to close in the first quarter of 2007. Bowne Buys St Ives Financial NEW YORK—Bowne & Co. is acquiring St Ives Financial, the financial printing division of St Ives plc. Terms of the deal were not revealed. St Ives, which is keeping its annual report printing business, has financial printing
Valassis Nixes ADVO Deal LIVONIA, MI—Alleging fraud, Valassis Communications has sued ADVO in chancery court to rescind its $1.3 billion merger agreement. Valassis alleges ADVO intentionally provided false information and “withheld material information” regarding operating income. The suit also alleges ADVO executives knew of significant internal control deficiencies associated with ADVO’s order-to-cash system. ADVO sees the move as “merely a smokescreen to hide the fact that Valassis is suffering from an extreme case of buyer’s remorse,” and plans to contest the action. Quad Hits the West Coast SUSSEX, WI—Quad/Graphics has ventured west with the acquisition of Craftsman Press West, based in Reno, NV. The facility becomes Quad’s
CONVENTIONAL INDUSTRY wisdom seemed to favor large, publicly traded commercial printing enterprises. They operated with lower cost structures than their often smaller, privately held competitors, in part due to their ability to negotiate better prices for consumables like paper and ink, along with company healthcare and operating insurance premiums. They maintained deep pockets to fund continuous capital improvement expenditures for the most automated machinery and workflow platforms available, enabling higher job productivity and better employee utilization company-wide. They leveraged their ability to cross-sell products and services to a diverse customer base within a bevy of markets. They attracted the best talent; people sought them