Poised for Growth

During this time, however, YORK was able to position itself to benefit during the recent turnaround. "We increased our commitment to innovation, added three new presses, created a new U.S. Healthcare module, and finished the year with the acquisition of Southern Atlantic Label," he reports.

Overall, McKernan reflects on his impression that the label converting industry is still facing a "challenging and unfavorable profitability trend, primarily the result of excess capacity exacerbated by 2009 market contraction and purchasing power of buyers. Ultimately, this will lead to failure of weaker players and additional consolidations amongst converters."