Deluxe to Buy NEBS
Deluxe Corp., a supplier of checks, forms and labels, agreed to buy Groton, Mass.-based direct marketing firm New England Business Service Inc. (NEBS) for approximately $587 million, expanding its presence in the small-business market. St. Paul, Minn.-based Deluxe will assume approximately $160 million in debt. The combined companies will serve more than 6 million small business customers, said Lawrence J. Mosner, Deluxe's chairman and CEO.
In June 2003, Dallas-based distributorship network Safeguard Business Systems agreed to be acquired by NEBS for $72.5 million in cash.
Cenveo Visits NYSE
Cenveo Inc., a manufacturer based in Englewood, Colo., visited the New York Stock Exchange May 20 to celebrate its name change from Mail-Well Inc. Paul V. Reilly, Cenveo's chairman, president and CEO, rang The Opening BellSM. Jeffrey Hayzlett, the company's executive vice president of business development, also participated. Cenveo's new trading symbol is "CVO."
Cenveo's name change is part of the company's plan to become a more streamlined organization that's focused on customer needs and accessible products and services. The firm offers a wide range of visual communication solutions, including envelopes, offset and digital printing, office products, design, fulfillment and e-services. It has approximately 10,000 employees and more than 80 printing and envelope locations, plus five advanced fulfillment and distribution centers, throughout North America. The company's new web site is www.cenveo.com.
Cenveo ranked second in the Printing and Publishing category of Fortune magazine's "Most Admired Companies" list.
Paper Price-Fixing Investigation Underway
Several paper/forestry firms are under investigation by antitrust officials on both sides of the Atlantic regarding price-fixing and manipulation of markets for magazine paper sold in the United States and elsewhere. Local and European Union antitrust authorities conducted raids at Finland's UPM-Kymmene, Stora Enso, Metsaliitto and M-realm, and Norway's Norske Skog firms. U.S. and Canadian authorities cooperated.
International Paper Co., Stamford, Conn., said U.S. officials contacted the firm in connection with the probe. Avery Dennison Corp., Pasadena, Calif., confirmed that European Commission and other national regulators visited and collected documents from its pressure sensitive materials facilities in the Netherlands and Germany. Officials of Georgia-Pacific Corp., Atlanta, Louisiana-Pacific Corp., Portland, Ore., and Weyerhaeuser Co., Federal Way, Wash., said they hadn't been contacted. The U.S. Justice Department confirmed it's investigating possible anti-competitive practices in the market for magazine paper.
Document Imaging Becomes GDXdata
Document Imaging Inc., Denver, an information and data management services company owned by Chicago-based distributorship Global DocuGraphix Inc., changed its name to GDXdata. Document Imaging, which serves clients such as Nestle, Toys "R" Us, Ceridian and Convergys, provides a wide range of services, including document scanning, data conversion and enterprisewide document management solutions. Its new web site is www.gdxdata.com.
Global DocuGraphix acquired Document Imaging in January 2000. Other nationally known Global DocuGraphix companies include PTM Document Systems, Santa Rosa, Calif., and TopForm® Software Inc., Norcross, Ga. Global DocuGraphix operates regional sales offices in more than 50 cities in North America. It recently opened an office in London and plans to open one in Singapore.
Printegra Acquires Space Business Forms' Customer List
Printegra, a manufacturer in Peachtree City, Ga., signed a letter of agreement to acquire repeat files (artwork and dockets) and the customer list of Space Business Forms, Lodi, Calif. Printegra's Livermore, Calif., plant will retain Space Business Forms' negatives and artwork and has begun processing orders. Printegra aims to enhance its presence in the San Francisco area.
Presstek to Acquire Precision Lithograining
Hudson, N.H.-based Presstek Inc., a supplier of digital imaging solutions for the graphic arts and laser imaging markets, plans to acquire Precision Lithograining Corporation, a South Hadley, Mass.-based supplier of printing plates. The cash transaction, valued at approximately $13 million, is expected to close in the third quarter of 2004. The companies plan to maintain their respective operations, with Precision operating as a wholly-owned subsidiary of Presstek. Precision's plate-product portfolio includes conventional and digital printing plates for web and sheet-fed applications.
Uncoated Free-Sheet Prices Continue to Rise
The North American uncoated free-sheet market remains tight with most mills on allocation or reservation systems and customers scrambling for supply, according to newsletter Pulp & Paper Week. Pricing for commodity cut size and offset rolls continues to climb toward list levels. Pricing for 20-lb. cut size is approaching $810/ton list price, with some lag on longer-term contract, tax-supported and retail-channel business. Pricing for offset paper also has increased toward the list of $670/ton for 50-lb. rolls, with some contract business still in the $600-$640/ton range, according to the newsletter.
