Ennis Acquires UMC Print (piworld.com)

Heidelberger Druckmaschinen AG (Heidelberg) made significant progress with the Group’s targeted digital transformation in financial year 2017/2018 (April 1, 2017 to March 31, 2018). By the beginning of June, several customers had already opted for the new subscription model that offers Heidelberg products and services as part of a usage-based all-in contract running over several years. The total of over 30 contracts being targeted for the new financial year 2018/2019 looks set to generate business worth some €150 million over the standard five-year term of these models. However, as the number of contracts concluded is just starting to pick up, this will only be reflected in the company’s figures to any significant extent from financial year 2019/2020 onward, when it will also help stabilize Group sales. In addition, the series production of digital presses for packaging and label printing (Primefire and Labelfire), which also started in financial year 2017/2018, will have an increasingly positive impact on sales. Click Read More below for additional information.

R.R. Donnelley & Sons Company announced today that its Board of Directors unanimously determined that an unsolicited proposal from Chatham Asset Management, LLC to acquire all of the common stock of the Company not already owned by Chatham and its affiliates for $10.85 per share in cash constitutes a “Superior Proposal” as defined in the Company’s previously announced definitive merger agreement with affiliates of Atlas Holdings LLC, dated as of November 3, 2021, subject to the condition that Chatham agree to extend the Revised Chatham Proposal until 9:05 a.m. CST on Friday, December 17, 2021. If Chatham refuses to agree to the Timing Condition, the Board will deem the Revised Chatham Proposal as withdrawn and incapable of being accepted by the Company. Under the terms of the Amended Agreement, affiliates of Atlas have agreed to acquire the Company for $10.35 per share in cash. “Today’s announcement is a testament to the robust process we have in place to maximize value for all stockholders,” said John C. Pope, Chairman of the Board. “Our Board and management team remain committed to acting in the best interests of RRD and all its stockholders, and will continue to take actions to achieve this objective.”

The Company’s revenues for the first quarter ended May 31, 2021 were $96.9 million compared to $89.0 million for the same quarter last year, an increase of $7.9 million, or 8.9%. Excluding the sales from our Infoseal acquisition, organic sales increased $2.7 million, or 3.0%. Gross profit margin was $29.2 million, or 30.1%, as compared to $23.9 million, or 26.9%, for the same quarter last year. Net earnings for the quarter were $7.3 million, or $0.28 per diluted share, as compared to $4.2 million, or $0.16 per diluted share, for the same quarter last year.