Cunningham Graphics International Expands New York Operations.JERSEY CITY, N.J.--(BUSINESS WIRE)--Oct. 18, 1999-- Company Acquires Mirror Graphics Cunningham Graphics International, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on NM: CGII CGII Canadian Government Information on the Internet CGII Capital Group International, Inc. ) announced today that it has completed the acquisition of Mirror Graphics, Inc. and affiliated companies Affiliated Companies A situation that occurs when one company owns a minority interest (less than 50%) in another company. Also refers to companies that are related to each other in some way. Notes: An affiliated company is sometimes referred to as a subsidiary. , full service commercial printers located in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , 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 . Mirror Graphics, which is located on "printer's row" on Varick Street in New York City, is a high quality sheetfed printer which provides six and eight color sheetfed printing services to corporate customers in the New York metropolitan area New York–Northern New Jersey–Long Island is the most populous metropolitan area in the United States and the third most populous in the world, after Tokyo and Mexico City. including major telecommunications and healthcare corporations. John and Mike D'Onofrio, the founders of Mirror Graphics will continue to be responsible for the over all operations of the company. The current operations of Mirror Graphics will be consolidated into existing Cunningham Graphics International production facilities. Michael Cunningham, Chairman and Chief Executive Officer of Cunningham Graphics International, commented, "The acquisition of Mirror Graphics is consistent with one of our major goals of becoming the premier document management company in the New York metro For the region, see . Metro New York is a free daily newspaper in New York City started in 2004. Its main competition is AM New York, with which it practices many of the same distribution and marketing strategies. market. Mirror has demonstrated a great track record of consistent growth, superior customer service and printing expertise. They are clearly a stand out in our industry. The combination of our firms will allow us to offer significant value to all our clients and shareholders alike." Management expects Mirror Graphics' 1999 revenues to be in excess of $7 million and to be accretive to Cunningham Graphics International's 1999 earnings. Terms of the transaction were not disclosed. Cunningham Graphics International is a leader in the graphic communications industry providing time-sensitive graphic communications services and outsourcing solutions to a blue chip client base. The Company currently operates in select international markets through its facilities in the United States, the United Kingdom, Hong Kong, Singapore and Canada. Graphic communication services provided by the company include, digital communications, document management, offset and digital printing, data output, bindery A NetWare file used for security and accounting in the early NetWare 2.x and 3.x versions. The bindery pertained only to the server it resided in and contained the names and passwords of users authorized to log in to that server. , fulfillment and mailing services. This press release may contain forward-looking statements, 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. Factors which could cause or contribute to such differences include, but are not limited to, continued demand for its services, the availability of raw materials, the impact of competitive services and pricing, risks in technology development, changing economic conditions and other risk factors detailed in the Company's filings with the Securities and Exchange Commission. |
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