Consolidated Graphics Signs Letter Of Intent To Acquire Universal Printing Company
ST. LOUIS, June 19, 2013 /PRNewswire/ -- Consolidated Graphics, Inc. (NYSE: CGX) announced today that it has entered into a letter of intent to acquire Universal Printing Company located in St. Louis, Missouri. Terms of the transaction were not disclosed.
Founded in 1939, Universal Printing Company is one of the country's leading web and sheetfed commercial printing companies, serving customers nationwide from a state of the art facility in St. Louis, Missouri. Universal's 150 employees provide first class service to a blue chip customer base.
"Universal Printing Company is an extremely well run company which will further expand our capabilities and footprint in the Midwest as we continue to build on our industry leading position," commented Joe R. Davis, Chairman and Chief Executive Officer of Consolidated Graphics. "We believe Universal is an attractive company that fits our proven acquisition strategy."
Jim Cohen, Executive Vice President, Mergers and Acquisitions, of Consolidated Graphics added, "Bob Ebel's expertise in guiding Universal's growth over the years is impressive, and he will be an excellent addition to what we like to refer to as the best peer group in our industry – our 70 operating company presidents."
Bob Ebel, Chief Executive Officer of Universal Printing Company, stated, "I am excited about joining Consolidated Graphics because their operating model is unique. Preserving the legacy that we have created is important to me, and I look forward to continuing to lead this company with all of the resources of Consolidated Graphics behind us, including their worldwide digital network and industry leading technology solutions."
Consolidated Graphics, Inc. (CGX), headquartered in Houston, Texas, is one of North America's leading general commercial printing companies. With 70 printing businesses strategically located across 26 states, Toronto, and Prague, Consolidated Graphics offers an unmatched geographic footprint, unsurpassed capabilities, and unparalleled levels of convenience, efficiency and service. With locations in or near virtually every major U.S. market, CGX provides the service and responsiveness of a local printer enhanced by the economic, geographic and technological advantages of a large national organization.
Consolidated Graphics' vast and technologically advanced sheetfed and web printing capabilities are complemented by the world's largest integrated digital footprint. By coupling North America's most comprehensive printing capabilities with strategically located fulfillment centers and industry-leading technology, CGX delivers end-to-end print production and management solutions that are based on the needs of our customers to improve their results. For more information, visit www.cgx.com.
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, in which the Company discusses factors it believes may affect its performance or results in the future. Forward-looking statements are all statements other than historical facts, such as statements regarding assumptions, expectations, beliefs and projections about future events or conditions. You can generally identify forward-looking statements by the appearance in such a statement of words like "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "potential," "predict," "forecast," "project," "should" or "will" or other comparable words or the negative of such words. The accuracy of the Company's assumptions, expectations, beliefs and projections depend on events or conditions that change over time and are thus susceptible to change based on actual experience, new developments and known and unknown risks, including those created by general market conditions, competition and the possibility that events may occur beyond the Company's control, which may limit its ability to maintain or improve its operating results or financial condition or acquire additional printing businesses. The Company gives no assurance that the forward-looking statements will prove to be correct and does not undertake any duty to update them. The Company's actual future results might differ from the forward-looking statements made in this press release for a variety of reasons, including, continuing weakness in the economy, the growth of its digital printing business, seasonality of election-related business, its ability to adequately manage expenses, including labor costs, the unfavorable outcome of legal proceedings, the lack of or adequacy of insurance coverage for its operations, the continued availability of raw materials at affordable prices, retention of its key management and operating personnel, satisfactory labor relations, the potential for additional goodwill impairment charges, its ability to identify new acquisition opportunities, negotiate and finance such acquisitions on acceptable terms and successfully absorb and manage such acquisitions in a timely and efficient manner, as well as other risks described under the heading "Risk Factors" of our Annual Report on Form 10-K and the risk factors and cautionary statements described in the other documents the Company files or furnishes from time to time with the Securities and Exchange Commission, including its Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Should one or more of the foregoing risks or uncertainties materialize, or should the Company's underlying assumptions, expectations, beliefs or projections prove incorrect, the Company's actual results may vary materially from those anticipated in its forward-looking statements, and its business, financial condition and results of operations could be materially and adversely affected.
SOURCE Consolidated Graphics, Inc.