Consolidated Graphics to Acquire Printing, Inc. of Wichita, Kansas.HOUSTON--(BUSINESS WIRE)--March 3, 1998--Consolidated Graphics, Inc. (NYSE NYSE See: New York Stock Exchange :CGX CGX Consolidated Graphics Inc. CGX Meigs Field, Chicago, Illinois (Airport Code) ) today announced the signing of a letter of intent to acquire Printing, Inc. of Wichita, Kansas
Wichita, also known as the Air Capital of the World, is the largest city in the U.S. state of Kansas, as well as a major aircraft manufacturing hub and cultural center. in a stock-for-stock transaction. Printing, Inc., operating since 1958, is the leading commercial printing company in Wichita, serving customers throughout Kansas and the Midwest region. Other terms of the transaction were not disclosed. Printing, Inc. continues Consolidated Graphics Consolidated Graphics (NYSE "CGX") is a national, commercial printing company based in Houston, Texas. Founded in 1985 by Joe R. Davis, the company has grown to over 70 locations across 26 states and is known as the leading sheetfed, web and digital printing company in North aggressive acquisition program and represents the Company's entry into another strong market. Mark Woodman, President of Printing, Inc., will remain with the company upon completion of the transaction. Joe R. Davis, Chairman and Chief Executive Officer of Consolidated Graphics, commented, "Printing, Inc. has demonstrated solid growth and strong operating performance under Mark Woodman's leadership. The company, through the dedicated efforts of its employees, has established itself as both a market and industry leader. With the addition of Printing, Inc. and two other pending acquisitions, Consolidated Graphics has grown to 33 companies nationwide with over $350 million in annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. revenues, a 100% increase over the past twelve months." Discussing his decision to join Consolidated Graphics, Mr. Woodman said, "By providing our customers the highest quality products and service, we have grown over the past 40 years into a five company operation that is recognized as the leading commercial printer in the region. With Consolidated Graphics, we will continue our growth and capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. the managerial and financial resources that become available to us." Consolidated Graphics, Inc. is the fastest growing printing company in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . A consolidator in a highly fragmented industry, the Company adds value to its acquisitions through managerial and operational expertise, financial strength and economies of scale. This press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. which involve known and unknown risks, uncertainties or other factors that could cause actual results to materially differ from the results, performance or other expectations implied by these forward-looking statements. Consolidated Graphics expectations regarding run-rate revenues assume, among other things, completion of pending acquisitions, general economic conditions, continued demand for its product, the availability of raw materials, retention of its key management and operating personnel, as well as other factors detailed in Consolidated Graphics filings with the Securities and Exchange Commission. CONTACT: Consolidated Graphics, Inc. Ronald E. Hale, Jr., 713/787-0977 or Morgen-Walke Associates, Inc., New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Betsy Brod/Jonathan Schaffer Media: Stan Froelich 212/850-5600 |
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