ENPOINTE Adds Second Production Facility in Minnesota

Fort Dearborn announced that it has completed its acquisition of NCL Graphic Specialties. The combination enhances Fort Dearborn’s leadership position in the decorative label and packaging marketplace by broadening the company’s geographic footprint, capacity and capabilities. NCL has two facilities located in Waukesha, Wis. and Menomonee Falls, Wis. bringing to a total of seventeen production locations across North America for the combined organization. The combination will broaden both companies’ capabilities to provide an even higher level of service to customers. The company’s product offering will now include: cut and stack, pressure sensitive, roll-fed, shrink sleeve, stretch sleeve and promotional labels, as well as flexible packaging. Click Read More below for additional information.

A leader in custom printing, specializing in wide- and grand-format graphics, Olympus Group has provided branding solutions for over 125 years. Headquartered in Milwaukee, WI, Olympus Group conducts business with recognizable high-profile clients, providing custom print solutions, as well as custom mascot characters, across a variety of markets including tradeshows & events, sports teams, entertainment, and branded environments. Olympus Group was met with the challenge of aging equipment with increasing downtime and waste. After reviewing various models, they knew they needed to take advantage of the latest technology. “We needed to have a solution for printing both rigid and roll-to-roll. This allows us to maximize the use of space within our facilities while also increasing capacity and improving turnaround speed,” stated Jason Ahart, Chief Operating Officer, Olympus Group.

Results for the three months ended December 31, 2020, included: *Net Sales — Net sales were $843 million in 2020, down 21% from 2019, primarily due to the economic impact from the COVID-19 pandemic, and ongoing print industry volume and pricing pressures. However, the fourth quarter decline represents another quarter of sequential revenue improvement during the pandemic, as compared to a 28% decline in the third quarter of 2020 and a 38% decline in the second quarter of 2020. *Net Earnings (Loss) From Continuing Operations — Net loss from continuing operations was $86 million in 2020, or $1.69 diluted loss per share, as compared to net earnings of $7 million, or $0.14 diluted earnings per share in 2019. This variance was mainly driven by $75 million of restructuring and non-cash impairment expenses due to fourth quarter 2020 plant closure announcements, and lower net sales. Results for full-year ended December 31, 2020, included: *Net Sales — Net sales were $2.9 billion in 2020, down 25% from 2019, primarily due to the economic impact from the COVID-19 pandemic, and ongoing print industry volume and pricing pressures. *Net Loss From Continuing Operations — Net loss from continuing operations was $107 million in 2020, or $2.10 diluted loss per share, as compared to a net loss of $56 million, or $1.11 diluted loss per share in 2019. The increase in net loss is mostly due to $35 million of higher restructuring, impairment and transaction-related charges, and lower net sales. *Free Cash Flow — Free Cash Flow was $129 million in 2020, an increase of $23 million from 2019, primarily due to a $50 million decrease in capital expenditures, partially offset by a $27 million decrease in cash earnings.