LUXEMBOURG, April xx 2007 /PRNewswire-AsiaNet/ –
Transaction will strengthen position of global supplier of
graphic arts consumables
* Combined group will offer unmatched portfolio of pressroom consumables,
with revenues of approximately euro 2.55 billion (US$ 3.32 billion)
* Management view: a very positive step in the continued
globalisation of the graphic arts supply industry
* More than 8000 employees will serve customers from 170 sites
Flint Group, the world’s largest privately-owned supplier to the printing,
converting, and graphic arts industries, has announced an agreement in
principle to acquire Day International, a world leader in the manufacture and
supply of printing blankets, sleeves, image transfer media and pressroom
chemicals. Day will operate as a specialty product unit of Flint Group, and the
combined group will rank among the largest pressroom consumable suppliers in
every region it serves. Nearly 8300 employees will serve customers from 170
sales, service and manufacturing locations on five continents. Combined
revenues for 2007 are estimated to be euro 2.55 billion (US$ 3.32 billion).
The agreement was signed on April xx, with closing expected to occur in 30
to 60 days, subject to necessary regulatory approvals.
Flint Group is owned by funds advised by CVC Capital Partners and Flint
management. Although its roots date back more than two centuries, today’s Flint
Group was created in 2005 by the combination of Flint Ink Corporation and XSYS
Print Solutions. Founded in 1905, Day International has risen to global
leadership through internal growth, new product development and a series of
mergers and acquisitions. It is owned by funds advised by GSC Group and Cowen
and Company, LLC, and by Day management.
"By combining the complementary product lines of the two companies, we are
creating a stronger supplier with a significantly broader range of products for
our customers around the world," said Dave Frescoln, CEO of Flint Group.
"Combining Day International’s range of products with those of Flint Group
creates an exceptionally strong portfolio to support printers around the
globe," stated Dennis Wolters, Day CEO, who will remain in that position. "The
expanded organisation will be in a strong competitive position in the best
sense, allowing customers to meet most of their pressroom needs from a single,
trusted resource."
About Flint Group
Flint Group is dedicated to serving the global printing, converting, and
graphic arts industries. Flint Group companies develop, produce and market a
wide range of conventional and UV printing inks on a global basis, with
regional operations that provide local service throughout Europe, North
America, Latin America, Asia, and India/Pacific. Other companies in the group
include Flint Group Printing Plates, specialising in photopolymer printing
plates, and XSYS Print Solutions, specialising in narrow web inks. Flint Group
Pigments produces a range of pigment products and additives for use in inks and
other graphic arts applications. Headquartered in Luxembourg, Flint Group
operates more than 140 facilities worldwide, and employs some 7,000 people.
Revenues in 2006 were euro 2.14 billion ($US 2.79 billion), positioning the
company as the number one or number two supplier in every major region it
serves. For more information, visit our web site at http://www.flintgrp.com
About Day International
Day International is a privately owned company founded in 1905 in Dayton,
Ohio. The company operates production, sales, and distribution centres in North
America, Latin America, Europe and Asia Pacific. Product lines include
dayGraphica(R) printing blankets and sleeves, david M(R) printing blankets,
Varn(TM) pressroom chemicals, Rotec(R) flexographic sleeve systems, dayCorr(R)
diecutting blankets and day-Flo(R) pre-inked rolls. For more information,
please visit our web site at http://www.dayintl.com
Contact:
For Flint Group
Rita Conrad
T: +1 734 781 4680
F: +1 734 781 4699
rita.conrad@flintgrp.com
For Day International
Media Contact:
Thomas J. Koenig, VP & CFO
T: +1 937-222-5714
F: +1 937 226 0052
tom_koenig@day-intl.com
SOURCE: Flint Group
CONTACT: Rita Conrad For Flint Group,
T +1-734-781-4680,
F +1-734-781-4699,
rita.conrad@flintgrp.com; or
Thomas J. Koenig,
VP & CFO For Day International,
T +1-937-222-5714,
F +1-937-226-0052,
tom_koenig@day-intl.com
Web site: http://www.flintgrp.com
http://www.dayintl.com
April 30, 2007
Sorry, comments are closed.