News of the Printing Industry at a Glance Standard Register Files for Chapter 11 Bankruptcy Protection The Standard Register Company announced that it and its subsidiaries have filed voluntary petitions under Chapter 11 of the Bankruptcy Code in the US Bankruptcy Court for the District of Delaware. The company also announced that it is pursuing a sale process and has entered into an acquisition agreement with an affiliate of Silver Point Capital, L.P. The agreement was submitted to the Bankruptcy Court on March 12. Under the proposed agreement, the company’s assets will be sold for approximately $275 million plus the assumption of certain other liabilities. The agreement contemplates a court-supervised auction process, which is designed to facilitate a competitive sale process. Subject to the results at auction, the closing of the transaction is subject to the satisfaction of usual and customary conditions, including obtaining Court approval and all necessary regulatory consents. The company believes that this sale will “right-size” the business’s balance sheet by reducing its indebtedness and other liabilities to better position the business for long-term growth and profitability. Silver Point Capital is a private investment firm managing approximately $8.5 billion. “Standard Register has a fundamentally stable underlying business with a large, diverse customer base and a strong portfolio of solutions, but our ability to invest in growth has been hampered by our debt structure and legacy liabilities,” said Joseph P. Morgan, Jr., president and CEO. “In response to the traditional print market decline, Standard Register repositioned itself as a market focused integrated communications provider where today, the majority of both revenue and profit are being derived.” MyPRINTResource.com/10183621 1st Niagara Inkjet Installation for CSA Direct marketing printer IWCO Direct is the first company in the US to purchase the full-color, cut-sheet digital inkjet Océ VarioPrint i300 (formerly called the Niagara) and the full-color continuous feed inkjet Océ ImageStream 3500 from Canon Solutions America (CSA). The equipment is expected to be installed at its Chanhassen, MN digital technology center and operational this month. “The increase in ROMI our customers are experiencing with truly one-to-one direct mail offers produced with digital inkjet technology has reshaped our company,” said CEO Jim Andersen. “We will continue to make strategic investments that set apart our clients’ direct mail offers in the mailbox and IWCO Direct from our competitors.” MyPRINTResource.com/11329288 Enter the 2015 Premier Print Awards Is there room on your shelf for a PIA Benny statuette? Print firms are invited to choose their top-quality printed material and start submitting them to the 2015 Premier Print Awards Competition. This prestigious international competition honors the top printers in the industry for their stellar printing capabilities. With more than 100 categories recognizing every division of the printing industry, the competition features categories for binders, magazines, posters, packaging and labels, innovation, green printing, digital printing, and more! Entries for the 2015 Premier Print Awards should be shipped to PIA headquarters’ new address: Attn.: Premier Print Awards Printing Industries of America 301 Brush Creek Road Warrendale, PA 15086 Winners will be honored at the Premier Print Awards Gala Featuring the InterTech Technology Awards, September 13 in Chicago, in conjunction with GRAPH EXPO 15. MyPRINTResource.com/ 10013918 Ohio Printer Switches Plates Fine Line Graphics, a one-stop commercial print shop situated in Columbus, OH, has switched to Southern Lithoplate Integra 830 P thermal plates to improve production at its 38,000-square-foot facility. “The Integra plate allows us to print with less water and chemistry,” said James Basch, president and treasurer. “That automatically translates into faster makereadies, a reduction in paper waste and increased efficiencies. We are confident that we will be able to enjoy measurable savings over time.” MyPRINTResource.com/10180790 RR Donnelley Is Closing Former Moore Plant More than 130 layoffs are expected this month as Chicago based global commercial printing firm RR Donnelley & Sons Co. shutters its Nashville plant, The Tennessean has reported. Donnelley took over the plant through its acquisition of Toronto-based Moore Wallace 11 years ago. That deal came a few months after Moore Wallace bought Nashville-based Check Printers Inc., a provider of checks and printed statements for the mortgage and financial service industries, which operated from the 11-acre property. MyPRINTResource.com/10114570 6 Quick Printing | April 2015 MyPRINTResource.com
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