Small Distributors Share Ideas at Summit
CEOs from more than 40 distributorships met for the Second Annual Small Distributor CEO Summit, held March 2-5 at manufacturer FormStore® Incorporated's headquarters in Fenton, Mo.
The group attended seminars and networking sessions focused on the theme "How to Make Money Smarter and Faster." Attendees facilitated the sessions, which were based on topics distributors suggested prior to the meeting. Sessions included "Pains and Gains in 2003," "Pricing Strategy & Value Added Selling" and "Web Sites and E-Marketing."
"The CEO Summit that FormStore has supported and hosted continues to get better each year," said Terry O'Brien, CFC, president of O'Brien Solutions, a distributorship in Glendale Heights, Ill. "The open exchange of information, the knowledge and experience of these distributors is invaluable."
Mail-Well Sells Digital Graphics Division Assets
Englewood, Colo.-based Mail-Well Inc. sold a portion of its Digital Graphics Division to newly formed company Group360 Inc. and San Francisco-based private equity investment firm Industrial Growth Partners. Mail-Well sold its Accu-Color facility in St. Louis (including Accu-Color's satellite facility in Atlanta), its Colorhouse Dallas facility and its NK Graphics facility in Keane, N.H. Terms of the deal weren't disclosed.
Group360 was formed by the combination of NEC Inc., a Nashville, Tenn.-based provider of prepress services to the publishing industry, and Color Associates Inc., a prepress provider based in St. Louis.
"The sale of these facilities concludes the divestiture initiatives we began in 2001," said Paul Reilly, Mail-Well's chairman, president and CEO. "With the completion of our planned divestitures, management is now concentrating on market share growth in our core lines of business."
Mail-Well specializes in three market segments of the printing industry: commercial printing, envelopes and printed office products. Its divisions achieved combined sales of $1.7 billion in 2002. Mail-Well has more than 10,000 employees and operates 86 printing facilities throughout North America.
Graphic Dimensions Acquires Short Run Checks & Forms
Atlanta-based manufacturer Graphic Dimensions acquired Short Run Checks & Forms, a manufacturer based in Newport, Ky., to expand Graphic Dimensions' service area and establish a strategic presence in the Cincinnati area. Short Run Checks & Forms' contact numbers and mailing address remain the same, but its name changed to Graphic Dimensions.
Short Run Checks & Forms' customers have access to the same products they did before, plus expanded offerings from Graphic Dimensions, including short to long run continuous forms, checks, letterhead, mailing labels, double-window envelopes and complete composition services.
Jeff Long, a DMIA Board member, now serves as Graphic Dimensions' marketing director and is based in Newport.
Moore Reports Fourth-Quarter Profit
Moore Corporation. Ltd. posted net earnings of $28 million, or 24 cents a share, for its fourth quarter ended Dec. 31, 2002, compared with a loss of $99.4 million, or $1.11 a share, during the same period in 2001. The Mississauga, Ontario-based manufacturer, which operates largely from Stamford, Conn., said it benefited from a change in accounting standards, as well as the impact of cost reductions and improved efficiency.
Moore recently purchased Lisle, Ill.-based manufacturer Wallace Computer Services Inc. for $1.1 billion in cash and stock. The combined company is called Moore/Wallace.
Flint Ink, SICPA Group Seal Deals
Ann Arbor, Mich.-based supplier Flint Ink Corp. and Lausanne, Switzerland-based SICPA Group finalized several deals. Flint Ink acquired SICPA's worldwide heatset and coldset ink business, and SICPA acquired Flint Ink's worldwide business for security inks used on currency and other negotiable documents. The transactions don't include security technology associated with brand protection or supply-chain management that Flint Ink is exploring with alliance partners.
Recently, Flint Ink created Jetrion LLC, a global company providing a full range of industrial ink jet products, services and custom printing solutions for continuous ink jet and on-demand applications.
Boise to Cut 700 Jobs
Office supplies and paper supplier Boise, based in Boise, Idaho, said its first-quarter loss would be much worse than expected due to a weak economy, higher pension and energy costs, and severe winter weather. The firm said it would cut 700 jobs (nearly 3 percent of its work force), freeze salaries, and restrict hiring and spending.
Boise said it expects a first-quarter loss of 28 cents to 38 cents a share. It expects pension costs in the first quarter to increase approximately $12 million from the fourth quarter of 2002, energy costs to increase by $10 million, and weather-related costs to rise $2 million.
