Printer News - February 2013February 2013
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."