Flint Group selected as new name for Flint Ink/XSYS Print Solutions merger.
"Flint Group is a strong new leader in all sectors of the worldwide printing, packaging and colorants industries. It brings together long traditions of superior products, expert service and a commitment to meeting customer needs in all of the major markets of the world," said Dave Frescoln, CEO of the new company.
Mr. Frescoln said that the selection of the new name was based on the need for a structure and naming system that was logical, yet built on business brands that were familiar to the global printing marketplace.
"Customers, employees and the industry need to be able to make sense of this new company," Mr. Frescoln said. "Flint Group' was based on the international recognition of the Flint name, and the fact that the organization comprises a group of business units dedicated to specific segments of the global printing market."
Flint Group specializes in the manufacture, marketing and sale of products and services to customers in the printing, converting and colorant industries. "That makes us unique in the industry for a company our size," said Mr. Frescoln.
Flint Group's core ink business delivers a wide range of products and services to the flexographic, sheetfed, heatset and coldset web offset, gravure, energy curable and specialty printing markets. The business is organized into regional units serving Europe, North America, Latin America, Asia and the India/Pacific region.
XSYS Print Solutions provides narrow web inks to printers in the tag and label industry worldwide.
Flint Group Printing Plates offers specialized photopolymer plates for flexographic and letterpress printing, together with solvents and equipment for plate processing.
Jetrion LLC provides enhanced digital inks, equipment, and integration services for on-demand and variable data printing applications throughout the world.
Flint Group Pigments & Resins combines operations in North America, Europe and China to offer dry and flushed pigments, pigment dispersions, resins, chemical additives, colored chips and varnishes. These raw materials are supplied to manufacturers of both ink and non-ink products.
"We are one of the largest suppliers to the industry," said Mr. Frescoln. "That scale is an advantage in that it can produce efficiencies not available to smaller competitors. The key will be to capitalize on the strengths of our various units."
The company will pursue a dual strategy of consolidation and decentralization. Plant consolidations will focus manufacturing activities on single product lines. The result will be to reduce manufacturing costs while improving quality and consistency.
With more than 150 facilities worldwide and a global network of distributors, Flint Group is positioned to serve customers in every major market segment and every geographic region. The company employs nearly 8,000 people, of whom approximately 2,000 are technical staff working to develop new products, improve current products and provide support to customers.
Estimated 2005 revenues are $US 2.7 billion (2.23 billion [euro]), positioning the company as the number one or number two supplier in every major region it serves. Headquartered in Luxembourg, the new company is jointly owned by the management and CVC funds.
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|Title Annotation:||fresh INK|
|Date:||Feb 1, 2006|
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