Printer News - February 2013
Waussau Container Adds Presstek Press
GREENWICH, CONN.—Wausau Container, a folding carton converter specializing in high-quality folding cartons in small lot sizes, has added a Presstek 75DI digital offset press to its production portfolio. The new press joints four flexo lines that are all equipped with inline diecutting and blanking for very efficient short-run operations. The company also acquired a Young Shin diecutter dedicated to work coming off the Presstek 75DI.
"The 75DI's 31˝ x 23.5˝ sheet size covers the needs of about 80 percent of the folding carton market," said Chuck Plier, president of Wausau Container. "It also enabled us to bring in-house a significant volume of print that we had been outsourcing on behalf of our customers."
"We were founded two decades ago and filled an unmet market need for smaller quantities of cartons that larger converters are not structured to address," continued Plier. "As lot sizes for many products continue to decline and quality requirements escalate, we needed to find a press that could cost-effectively augment our flexographic production for higher quality carton work, especially those requiring line colors."
"We are extremely pleased to be working with Wausau Container as they ramp up their digital offset production of folding cartons," said Joe Demharter, vice president of sales at Presstek. "In addition to the outsourced work they are now able to bring in house, they have been successful in gaining additional work from existing customers."
CCL to Acquire Avery Dennison Businesses, Ends Plans with John Watson & Co.
TORONTO—CCL Industries Inc., has signed a binding agreement to acquire the Office & Consumer Products and Designed & Engineered Solutions businesses of Avery Dennison on a debt-free basis for $500 million cash subject to customary closing adjustments. Dependent on required regulatory approval, the transaction is expected to close by mid-2013.
Geoffrey Martin, president and CEO of CCL Industries, said, "This acquisition has the potential to transform our company at many levels. We are acquiring the Avery brand as part of the transaction to build on the franchise established for many decades for labels and other printable media that consumers and businesses use in digital computer printers around the world. In addition, we are significantly expanding our CCL Label market sectors with our entry into the North American durable goods market. This acquisition is the largest in CCL's history and takes the company's pro-forma annual revenue above $2 billion for the first time. We know both businesses well and have admired the people and the products for many years. We expect the transaction to be accretive on an earnings per share basis in 2014 and beyond, as the valuation falls well within the established financial parameters for CCL's acquisitions in the label industry over the last decade."
In related news, CCL announced that it will not acquire John Watson & Co. Ltd., a producer of labels for leading distillers of Scotch whisky and other spirits based in Glasgow, Scotland. The proposed transaction was previously disclosed November 20, 2012, but the parties were subsequently unable to reach agreement on contractual terms, and jointly decided to terminate further discussions.
CCL Label will continue to service the spirits industry in Scotland from its existing UK operations in East Kilbride and Castleford.
Diamond Packaging Restructures Ownership
ROCHESTER, N.Y.—Diamond Packaging announced that Karla Fichter acquired her sister Kirsten Werner's share of the company in a transaction finalized on December 27, 2012. The transaction maintains the company's status as a certified woman-owned business and streamlines the company's leadership structure.
Fichter assumes the positions of chairperson of the board and president, in addition to her current role of chief executive officer. "We are delighted to have completed this transaction before year end. I would like to thank our employees for their diligence, effort, and focus on the business during the months of effort it took to overcome many complicated issues and to complete the acquisition," said Fichter. "With our streamlined leadership structure we are looking forward to getting back to what we do best, developing and producing innovative and sustainable packaging solutions for our customers."
Menasha Packaging Acqires Rand Diversified
NEENAH, WIS.—Menasha Packaging Company has acquired Rand Diversified of Edison, N.J. Both companies are privately held; terms of the transaction were not disclosed.
According to Mike Waite, president of Menasha Packaging, "The acquisition of Rand Diversified strengthens our geographic coverage with the addition of East Coast fulfillment and contract packaging. Customers continue to value partnerships where Menasha Packaging can manage the entire design through manufacturing through fulfillment process. Adding Rand's expertise will help us respond to this growing demand."
The distinct capabilities of Rand and Menasha Packaging will strengthen the combined company's position with customers. Rand has a strong focus on contract packaging and has extensive experience with the Food & Drug Administration and Drug Enforcement Administration. Menasha Packaging focuses on the food, household, and personal care markets and provides comprehensive design, manufacturing, fulfillment, and logistics expertise to its customers.
PEOPLE
cei (Coating Excellence International), announced recent additions to the company's executive leadership team. Julie A. Piton, C.P.A., joined cei as chief financial officer in June 2012; Jeffrey M. Tritapoe, chief operating officer, and Lorna Hay, executive vice president of sales and marketing, joined the company in September; and George Landes, Jr. came on board in August as senior vice president sales, food flexible packaging.
Staples Print Solutions recently hired David Bowyer as director of sales to assume sales leadership of this emerging category for Staples. He will focus on establishing a dedicated national label and flexible packaging sales team.
Tonya Kowa-Morelli, vice president of sales and marketing for Huston Patterson is the recipient of the 2012 LPIA Emerging Leader Award presented by the Label Printing Industries of America. The award recognizes exceptional young professionals of merit and accomplishment. pP