Cadmus Communications Corp. announces sale of consumer publishing division.RICHMOND, Va.--(BUSINESS WIRE)--Sept. 30, 1996--Cadmus Communications Corp. (NASDAQ/NMS:CDMS CDMS Cryogenic Dark Matter Search CDMS Certified Disability Management Specialist CDMS Certification of Disability Management Specialists CDMS Clinical Data Management System CDMS Climate Data Management System ) announced Monday the sale of its Cadmus Consumer Publishing division to Landmark Specialty Publications Specialty Publications is an American publisher of gay erotic material. Their 'Men' Magazine has been the #1-selling gay male erotic magazine for over 25 years.[1] Magazines
Cadmus Consumer Publishing publishes price guides for collectors of sports, non-sports, and entertainment cards and collectibles. C. Stephenson Gillispie Jr., Cadmus chairman, president, and chief executive officer commented: "As we pursue our strategy to become the `single best source for 21st century marketing and communication solutions,' it has become evident that consumer publishing no longer remains core to the Cadmus strategy. This transaction allows us to focus our resources and our attention on our core businesses and also generates cash which we will use to reduce the debt we incurred when we acquired Lancaster Information Group earlier this year. The transaction will not have a material impact on our future operating results or our future growth." Gillispie added: "We have been pleased with the performance of our Consumer Publishing division since its formation in April 1992, and we are grateful to the associates that have made this performance possible. We also are pleased that Landmark Specialty Publications has purchased the business. Landmark has a superb reputation not only for sound operations management Operations management is an area of business that is concerned with the production of goods and services, and involves the responsibility of ensuring that business operations are efficient and effective. but also for forward-thinking and innovative strategic guidance. We could not have picked a better home for our associates or for our publications than Landmark." Cadmus Communications Corp. is a graphic communications company Communications Company is a communications unit of the United States Marine Corps. They are part of Combat Logistics Regiment 37 , 3rd Marine Logistics Group (3MLG) and III Marine Expeditionary Force (III MEF). The unit is based out of the Marine Corps Base Camp Smedley D. offering comprehensive, specialized spe·cial·ize v. spe·cial·ized, spe·cial·iz·ing, spe·cial·iz·es v.intr. 1. To pursue a special activity, occupation, or field of study. 2. products and services in three broad areas: printing, marketing, and publishing. Headquartered in Richmond, Cadmus is one of the largest graphic communications companies in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . CONTACT: Cadmus Communications Corp., Richmond David E. Bosher, Vice President & Treasurer 804/287-5685 |
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