Printing Impressions' Commercial Printer News for May 2009
Many graphic communications service providers feel the need to improve their "competitiveness" in an economic downturn by dropping their prices. While print sales may decline in a recession, lowering prices only results in a lower contribution margin and ultimately, a loss of profitability. Savvy graphic communications service providers are exploring business strategies that add value for customers and improve their bottom line.
This webinar - part three in the three-part "Thrive! In 2009" webinar series - will provide an up-close and detailed look at some pricing strategies that address risk adversity, proof of concept, and value. It is based on InfoTrends' survey of more than 160 print service providers. Barb will then moderate a panel discussion with three print service providers about how they maximize margins by focusing on value delivered.
Click here to view this webinar today!
LOS ANGELES—The printing community in Southern California has suffered a jolt with the loss of two very familiar names.
MONTREAL—Quebecor World has signed a multi-year contract valued at approximately $100 million with Boardroom Inc., to provide the printing and distribution of millions of newsletters, books and special reports. The agreement with the Stamford, CT-based Boardroom represents a more than six-fold increase in Quebecor World business volume with the company.
NORTH HAVEN, CT—Martin Printing has shut its doors, leaving more than 30 employees out of work, according to the Hartford Courant. The company's 150,000-square-foot facility and three presses will be auctioned online April 30. The printer lost business from one of its largest clients, ING Direct, which opted to halt all printing until 2010.
MONTREAL—Quebecor World's continuing journey to emerge from bankruptcy protection is certainly not without pain. The struggling printer has notified Tennessee state officials that it will close its Memphis facility, leaving 111 people out of work, the Memphis Daily News reported.
HOUSTON—Joe Davis, CEO of Consolidated Graphics (CGX), along with the non-executive members of the company's Board of Directors, have taken a 15 percent reduction in pay, according to filings with the Securities and Exchange Commission (SEC). The paycut is slated for an undetermined period. According to the SEC filing, the move is "consistent with other headcount and salary and wage reductions being taken throughout the company due to the current and projected economic conditions facing the printing industry."
MONTREAL—Saddled with more than $6 billion in debt and facing drastically shrinking demand for its newsprint, paper producer AbitibiBowater has filed for Chapter 11 bankruptcy protection in the United States, and plans to seek protection in Canada under the Companies' Creditors Arrangement Act. The company was forced to terminate a $1.8 billion debt exchange offer for its Bowater subsidiary earlier this month when lenders would not provide sufficient support. It had also also been trying to restructure $2.4 billion in debt from its Abitibi-Consolidated unit.
STAMFORD, CT—The management team at Cenveo has awarded college scholarships to 51 children of company employees in the first year of a program originated by Robert Burton. The program awarded students based upon a number of criteria, including educational success, community service, athletic team and club participation.
RICHMOND, VA—Employee-owned Worth Higgins & Associates has acquired Billet Printing of Manassas, VA. In addition, the account executives and employees of the former Colonial Printing in Richmond have joined Worth Higgins. The new assets are expected to generate an additional $8 million in annual sales. The company also plans to hire an additional 40 or so employees during 2009 and will break ground on a 30,000-square-foot addition to its facility.
