Sun Chemical and DIC Corporation Acquire Digital Inks Business from Sensient Technologies Corporation

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.

Tango Press, headquartered in Springdale, AR, opened in 2016 as an all-digital production plant for corrugated packaging and displays. The company has a reputation in the marketplace for providing high-impact packaging and displays that meet customers’ unique needs, timeframe, and price points. “The acquisition of Tango Press is a perfect complement to The BoxMaker and our web-to-print brand, Fantastapack.com. This addition gives us the opportunity to expand our reach and improve product distribution for digitally printed and finished packaging to businesses throughout the United States,” said Richard Brown, President and Co-Owner of The BoxMaker. “As an all-digital production plant, Tango Press’ business model and culture are a natural fit for The BoxMaker and we look forward to the expanded benefits that our combined facilities will deliver to clients.”

11 Thought Leaders present their views on what lies ahead. Tony’s Chocolonely’s is the fastest-growing major chocolate brand in the UK. Kesh is the B2B Sales Manager at Tony’s Chocolonely. She is here to explain the story behind the brand, an impact company, committed to ending exploitation in cocoa and how they are using the power of personalised print. She leads the personalised bars business in the UK, working with businesses to drive awareness of their mission, get more personalised bars into more hands and drive impact.