STAMFORD, Conn., Nov. 9, 2017 /PRNewswire/ -- Cenveo, Inc.
(NASDAQ: CVO) today announced that its wholly-owned subsidiary,
Cenveo Corporation, has sold its office products envelope business
commonly known as Quality Park Products, to LSC Communications
(NYSE: LKSD), a global leader in traditional and digital
print-related services and office products. The sale involves
two facilities located in the U.S.
Robert G. Burton, Sr., Chairman
and Chief Executive Officer stated: "Cenveo's Quality Park
Products has built its leading position and strong reputation on
servicing the office product markets to meet a variety of business
customer needs. This divestiture allows Cenveo to focus on
our core operations including labels, direct envelopes, print and
content management. We remain committed to executing our plan
of operating niche growth businesses while using our cash flow to
invest in and grow our higher margin product groups and
de-leveraging our balance sheet."
Hughes Hubbard & Reed acted as legal advisor to the
Company.
Cenveo (NASDAQ: CVO), world headquartered in Stamford, Connecticut, is a leading global
provider of print and related resources, offering world-class
solutions in the areas of custom labels,
envelopes, commercial print, content management and
publisher solutions. The company provides a one-stop
offering through services ranging from design and content
management to fulfillment and distribution. With a worldwide
distribution platform, we pride ourselves on delivering quality
solutions and service every day to our customers. For more
information please visit us at
www.cenveo.com.
Statements made in this release, other than those concerning
historical financial information, may be considered
"forward-looking statements," examples of which include statements
relating to our 2017 outlook and future financial condition and
operating results, as well as any other statement that does not
directly relate to any historical or current fact. These
forward-looking statements are based upon current expectations and
involve a number of assumptions, risks and uncertainties that could
cause actual results to differ materially from such forward-looking
statements. In view of such uncertainties, investors should
not place undue reliance on our forward-looking statements.
Such statements speak only as of the date of this release and
we undertake no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise. Factors which could cause actual
results to differ materially from management's expectations
include, without limitation: (i) our substantial level of
indebtedness could materially adversely affect our financial
condition, liquidity and ability to service or refinance our debt,
and prevent us from fulfilling our business obligations; (ii) our
ability to pay the principal of, or to reduce or refinance, our
outstanding indebtedness; (iii) the terms of our indebtedness
imposing significant restrictions on our operating and financial
flexibility; (iv) additional borrowings available to us could
further exacerbate our risk exposure from debt; (v)
United States and global economic
conditions have adversely affected us and could continue to
adversely affect us; (vi) our ability to successfully integrate
acquired businesses with our business; (vii) a decline in our
consolidated profitability or profitability within one of our
individual reporting units could result in the impairment of our
assets, including goodwill and other long-lived assets; (viii) the
industries in which we operate our business are highly competitive
and extremely fragmented; (ix) a general absence of long-term
customer agreements in our industry, subjecting our business to
quarterly and cyclical fluctuations; (x) factors affecting the
United States Postal Service's impacting demand for our products;
(xi) the availability of the Internet and other electronic media
adversely affecting our business; (xii) increases in paper
costs and decreases in the availability of raw materials; (xiii)
increases in energy and transportation costs; (xiv) our labor
relations; (xv) our compliance with environmental laws; (xvi) our
dependence on key management personnel; (xvii) any failure,
interruption or security lapse of our information technology
systems and (xviii) there can be no assurances that our
profitability plan will satisfy the NASDAQ or result in achieving
compliance with its listing standards. This list of factors
is not exhaustive, and new factors may emerge or changes to the
foregoing factors may occur that would impact our business.
Additional information regarding these and other factors can
be found in Cenveo, Inc.'s periodic filings with the SEC, which are
available at www.cenveo.com.
Inquiries from analysts and investors should be
directed to Ayman Zameli at (203)
595-3063.
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SOURCE Cenveo, Inc.