GV Group is Growing in the USA

Konica Minolta Business Solutions U.S.A., Inc. is pleased to announce the installation of its AccurioJet KM-1e LED UV Inkjet Press at commercial and direct mail printer Zenger Group. Headquartered in Tonawanda, New York, Zenger Group is a second-generation, family-owned and operated, cutting-edge company using their strong print foundation to help brand owners market more efficiently and effectively. Having purchased an AccurioJet KM-1 in 2019, the high-volume production printing, high uptime and low cost of operation led them to make the second purchase. While other manufacturers were considered, Zenger Group found the AccurioJet KM-1 inks were much more durable, could print on any substrate and at a lower cost than the other available options. In its first year owning the AccurioJet KM-1, Zenger Group found customers love the outstanding quality and consistency, and the ability for the company to produce high volume postcards at a low cost enabled it to bring long-run mailing card applications – previously outsourced – back in house. The UV inkjet technology helped grow the company by 60 percent in 2020, moving it up the ranks to 123 from 207 on Printing Impressions’ Top 350 list. CEO Steve Zenger was also recently inducted into Printing Impressions’ Printing Industry Hall of Fame.

*Reported Net Sales of $700 million in the third quarter of 2023 compared to $830 million in the third quarter of 2022, and Net Loss of $3 million in the third quarter of 2023, or $0.06 diluted loss per share, compared to Net Earnings and diluted earnings per share of $14 million and $0.27 in the third quarter of 2022, respectively. *Increased Net Cash Provided by Operating Activities by $71 million for the nine months ended September 30, 2023, compared to the same period in 2022. *Increased Free Cash Flow by $61 million for the nine months ended September 30, 2023, compared to the same period in 2022, including $27 million of Free Cash Flow generation in the third quarter of 2023. *Reduced Net Debt by $132 million over the last 12 months to end the third quarter with a Debt Leverage Ratio of 2.36x, which is within the company’s long-term targeted leverage range of 2.0x – 2.5x.

LSC Communications announced that it has acquired the Quality Park envelope business from Cenveo. Quality Park is a leading producer of quality envelopes, mailing supplies and assorted packaging items. Jim Ellward, President of the TOPS Products division of LSC Communications, commented, “We're excited to bring the strong Quality Park brand into our stable of well respected and widely known brands such as Adams, Ampad, Cardinal, Oxford, Pendaflex and TOPS. Taking advantage of the synergies between TOPS Products and Quality Park will enable us to enhance our office solutions offering to extend deeper into new and existing relationships.”