June 27, 2003
Hayes Printing closes
RICHMOND HILL, Ont.Hayes Printing, a going concern since 1978, closed its doors in late May after its bank called in a loan. Owner Joe Di Salvia, who bought the company four years ago, blames the downturn in the economy and bad debts for the shops demise. Hayess building and equipment are up for sale, including a Heidelberg 5-colour press, but it has not been decided yet whether an auction will be held. A 4-colour press has already been sold. The companys receivables were bought by CDA Industries in late May, which set up a new operation called Hayes Graphics. Sales at Hayes reached $3.5 million a couple of years ago.
Image Place owner sells, helps to set up new shop
MISSISSAUGA, Ont.Mazyar Ekbatani, owner of Image Place has sold the company to a former employee and his partner and gone on to help his brother set up a new print shop. The shop, owned by Alex Ekbatani, is called Print 44, specializes in 2-up, short-run work, and was established last November. Image Place is now owned by Jamie Payne, former production manager, and Ian Sinclair. The new owners plan to expand the services offered by the company by branching out into digital printing and design, says Sinclair. A Xerox DocuColor 6060 is being installed soon. Also according to Sinclair, Image Place will continue to have relationship with Print 44.
Print program dropped by B.C. College
VANCOUVERVancouver Community College announced earlier this year that it is suspending its Graphic Communications and Production Technology program in response to a fiscal deficit. The current program will conclude at the end of August and students will have to make other plans. In response, the BCPIA has established an education task force under the chairmanship of Jeff Taylor of Hemlock Printers, to develop a business plan for a new program. According to Marilynn Knoch, executive director of BCPIA, the long-term goal of the task force is to create a four-year degree program in graphic arts with a two-year diploma program. Stay tuned to PrintCan for more details as they become available.
June 20, 2003
Vancouver Mayor gives kudos to green printers
VANCOUVERIt seems the Incredible Hulk isn't the only green powerhouse around this summer. Vancouver's Best Color Press and New West Press both recently received the Mayor's Environmental Achievement Award for their voluntary efforts to protect and enhance the city's environment. Best Color and New West both went through environmental audits last year and implemented the CleanPrint BC Environmental Management Plan. According to Clean Print BC case study reports, both companies severely cut back their reliance on alcohol use and upped their solid waste and paper recycling effortsjust to name a few of their green moves. Art Seto, coordinator of CleanPrintthe BC industry's five-year-old, private initiativesays both shops "are ecstatic" about the awards and see the designation as a real marketing advantage in the environment-conscious Vancouver market.
Industry's 2002 sales break $20-billion mark
TORONTOAggregate sales of Canada's top 100 printers grew by approximately 3.56% in 2002, with sales surpassing the $20-billion mark for the first timetopping out at $20.44 billion. All in all, according to PrintCan's printed sister Graphic Monthly's annual Gold List, 2002 wasn't a bad year for the Top 100. Sales were up in contrast to the relatively flat performance of 2001 and no bankruptcies or closures were reported this year among the firms featured in the Gold List's Top 100, despite nagging rumours of imminent closures currently circulating in the industry. To see who's on top, who's made the biggest leaps and greatest falls, stay tuned. Look for the Gold List issue of Graphic Monthly to arrive in your mailbox soon.
June 17, 2003
Lowe-Martin buys Barcam Group
MISSISSAUGA, Ont.The Lowe-Martin Group bought Barcam Group late last week for an undisclosed price. For now Barcam will continue to function as usual, but a transition team has been established to examine how the two operations can be consolidated, including staffing requirements and locations. Ed Rooney, general manager of Lowe-Martins Toronto operations will take on responsibility for Barcam. Graham Ford, president of Barcam, is staying with the company and will report to Rooney. According to Patrick Coyne, director of marketing at Lowe-Martin, the two companies had considered joining forces for some time. They share a similar focus of seeking to add value to print jobs and they operate in comparable market niches, including on-line and fulfillment services. According to Ford, this is a good move for both companies. One of the reasons he sold, Ford said, is that it is becoming increasingly difficult to keep up with the resources necessary for people and equipment. The acquisition should put Lowe-Martins annual sales over the $50 million mark in 2003, with more than 300 employees.
Graphic Monthly scores writing prize
TORONTOGraphic Monthly, PrintCans printed sister publication, took home a coveted Gold Place finish at the Kenneth R. Wilson awards presented by the Canadian Business Press. The Right to Refuse, by associate editor Lana Castleman, grabbed the top spot in the Best News Story category. The piece looked at the court decision handed down in the Scott Brockie case. In other categories, Lana also scored a top five spot for Best Merchandising Article for her piece, Profit Invariable, and editor Filomena Tamburri, received a top five place in the Best Profile of a Person Category for the profile of Dick Kouwenhoven, Printer of the Year.
June 13, 2003
Screen printer closes in B.C.
DELTA, B.C.Creative Screen Arts Ltd., an established silkscreen printer since the late 70s closed its doors about two weeks ago. A receiver has been appointed and the shops equipment is going to auction next Tuesday, June 17. For a look at whats up for grabs go to http://www.timelinesales.com/auction.htm. In other news from B.C. PrintCan has learned that Chelsea Printers of Delta, bought up assetsmostly equipment and accountsfrom Futurama Printing Services, which also closed its doors. According to president Wayne Dangerfield, Chelsea is an offset commercial printer with 13 employees.
Transcontinental sales up
MONTREALTranscontinental has announced that sales for the second quarter, ended April 30, reached $476 million, an 8% increase over revenues posted in the same quarter last year. The increase is credited to the rapid integration of the acquisitions completed in 2002, which added $47 million in revenues. Net income for the quarter grew 14% to $37 million from $33 million in 2002. Revenues for the first six months of the fiscal year are up 9% from the same time in 2002.
June 11, 2003
CCL buys U.S. printer
TORONTOCCL Industries has paid $18 million for Lucas-Insertco, an American company that specializes in instructional inserts for drug packages. Lucas-Insertco has 185 employees in Baltimore, Md., and generates annual sales of about $20 million. Donald Lang, president and CEO of CCL Industries, commented that Lucas-Insertco will fit well into the label division, which already supplies the pharmaceutical industry. The two companies had an existing marketing alliance.
Marcoux receives honourary doctorate
MONTREALRemi Marcoux, chairman and CEO of Transcontinental Inc., received and honourary doctorate last weekend from HEC Montreal, his alma mater. In his acceptance speech, Marcoux said the most valuable lesson hes learned since founding Transcontinental 27-years ago is that the customer is everything and above all you have to have fun. Transcontinental was also cited for excellence in corporate governance practices in an independent study by Montreals Desjardins Securities. The study, which examined 10 media companies, awarded Transcontinental top spot in the group.
June 6, 2003
Transcontinental scoops up more Atlantic papers, printing
MONTREALTranscontinental Inc. added to its ever-growing stable of community newspapers with the purchase yesterday of the Amherst Daily News, the Citizen, and Sackville Tribune-Post weeklies from Daily News Cumberland Publishing Ltd. of Amherst, N.S., and Sackville Tribune-Post Ltd. of Sackville, N.B. The deal includes the newspapers' printing and distribution businesses and it's expected to add approximately $4 million in annual revenue to the printing giant's books.
Quebecor World credit rating approaching junk bond status
MONTREALAdding to an already tumultuous year for the world's largest commercial printer, came news this week that Standard & Poor has downgraded Quebecor World's credit rating to one notch above junk bond status. Quebecor's recent buyback of 10 million subordinate voting shares triggered the move. A similar move was made by Dominion Bond Rating Service Ltd., which downgraded Quebecor's credit rating to two notches above junk status. The Globe and Mail reports that Quebecor has stated it expected the ratings cuts and that the company's debt has not reached junk status.
MDC focuses on marketing biz, takes Maxxcom private
TORONTOMDC Corporation Inc. and Maxxcom Inc., a publicly owned communications and marketing subsidiary of MDC, have reached an agreement in principle whereby MDC will acquire all outstanding common shares of Maxxcom not already owned by MDC in exchange for Class A subordinate voting shares of MDC. MDC cited a growth strategy based on the upturn in the marketing services sector and a desire to return to its marketing roots as the reasons for the move. The completion of the transactionwhich would make Maxxcom a wholly-owned subsidiary of MDC, taking it out of the public trading realmis conditional on obtaining the requisite court order, shareholder and regulatory approvals.
|Sara Young says:|