ST. LOUIS, June 19, 2013 /PRNewswire/
-- Consolidated Graphics, Inc. (NYSE: CGX) announced
today that it has entered into a letter of intent to acquire
Universal Printing Company located in St.
Louis, Missouri. Terms of the transaction were not
disclosed.
Founded in 1939, Universal Printing Company is one of the
country's leading web and sheetfed commercial printing companies,
serving customers nationwide from a state of the art facility in
St. Louis, Missouri. Universal's
150 employees provide first class service to a blue chip customer
base.
"Universal Printing Company is an extremely well run company
which will further expand our capabilities and footprint in the
Midwest as we continue to build on our industry leading position,"
commented Joe R. Davis, Chairman and
Chief Executive Officer of Consolidated Graphics. "We believe
Universal is an attractive company that fits our proven acquisition
strategy."
Jim Cohen, Executive Vice
President, Mergers and Acquisitions, of Consolidated Graphics
added, "Bob Ebel's expertise in
guiding Universal's growth over the years is impressive, and he
will be an excellent addition to what we like to refer to as the
best peer group in our industry – our 70 operating company
presidents."
Bob Ebel, Chief Executive Officer
of Universal Printing Company, stated, "I am excited about joining
Consolidated Graphics because their operating model is unique.
Preserving the legacy that we have created is important to me, and
I look forward to continuing to lead this company with all of the
resources of Consolidated Graphics behind us, including their
worldwide digital network and industry leading technology
solutions."
Consolidated Graphics, Inc. (CGX), headquartered in Houston, Texas, is one of North America's leading general commercial
printing companies. With 70 printing businesses strategically
located across 26 states, Toronto,
and Prague, Consolidated Graphics
offers an unmatched geographic footprint, unsurpassed capabilities,
and unparalleled levels of convenience, efficiency and service.
With locations in or near virtually every major U.S. market, CGX
provides the service and responsiveness of a local printer enhanced
by the economic, geographic and technological advantages of a large
national organization.
Consolidated Graphics' vast and technologically advanced
sheetfed and web printing capabilities are complemented by the
world's largest integrated digital footprint. By coupling
North America's most comprehensive
printing capabilities with strategically located fulfillment
centers and industry-leading technology, CGX delivers end-to-end
print production and management solutions that are based on the
needs of our customers to improve their results. For more
information, visit www.cgx.com.
Forward-Looking Statements
This press release contains "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, in which the Company discusses factors it believes may
affect its performance or results in the future. Forward-looking
statements are all statements other than historical facts, such as
statements regarding assumptions, expectations, beliefs and
projections about future events or conditions. You can generally
identify forward-looking statements by the appearance in such a
statement of words like "anticipate," "believe," "continue,"
"could," "estimate," "expect," "intend," "may," "might," "plan,"
"potential," "predict," "forecast," "project," "should" or "will"
or other comparable words or the negative of such words. The
accuracy of the Company's assumptions, expectations, beliefs and
projections depend on events or conditions that change over time
and are thus susceptible to change based on actual experience, new
developments and known and unknown risks, including those created
by general market conditions, competition and the possibility that
events may occur beyond the Company's control, which may limit its
ability to maintain or improve its operating results or financial
condition or acquire additional printing businesses. The Company
gives no assurance that the forward-looking statements will prove
to be correct and does not undertake any duty to update them. The
Company's actual future results might differ from the
forward-looking statements made in this press release for a variety
of reasons, including, continuing weakness in
the economy, the growth of its digital printing business,
seasonality of election-related business, its ability to
adequately manage expenses, including labor costs, the unfavorable
outcome of legal proceedings, the lack of or adequacy of insurance
coverage for its operations, the continued availability of raw
materials at affordable prices, retention of its key management and
operating personnel, satisfactory labor relations, the potential
for additional goodwill impairment charges, its ability to identify
new acquisition opportunities, negotiate and finance such
acquisitions on acceptable terms and successfully absorb and manage
such acquisitions in a timely and efficient manner, as well as
other risks described under the heading "Risk Factors" of our
Annual Report on Form 10-K and the risk factors and cautionary
statements described in the other documents the Company files or
furnishes from time to time with the Securities and Exchange
Commission, including its Quarterly Reports on Form 10-Q and
Current Reports on Form 8-K. Should one or more of the foregoing
risks or uncertainties materialize, or should the Company's
underlying assumptions, expectations, beliefs or projections prove
incorrect, the Company's actual results may vary materially from
those anticipated in its forward-looking statements, and its
business, financial condition and results of operations could be
materially and adversely affected.
SOURCE Consolidated Graphics, Inc.