Cadmus Communications to Acquire Printing Operations of LexisNexis(R) in Charlottesville, VA and Conklin, NY
06 February 2007 - 1:00AM
PR Newswire (US)
Companies Enter Into Five-Year Agreement for Printing and Related
Services RICHMOND, Va., Feb. 5 /PRNewswire-FirstCall/ -- Cadmus
Communications Corporation (NASDAQ:CDMS) announced today that it
has entered into an agreement to acquire LexisNexis' conventional
printing operations in Charlottesville, Virginia and its digital
printing operations in Conklin, New York, and simultaneously has
entered into a five-year agreement with LexisNexis to produce
substantially all of LexisNexis' printing requirements. LexisNexis,
a division of Reed Elsevier, is a leading provider of information
and services solutions to the legal, news and business information
markets and a long-term customer of Cadmus. According to Bruce
Thomas, chief executive officer of Cadmus Communications, "This
transaction represents an exciting expansion of our publisher
services business and an important extension of our relationship
with Reed Elsevier. As a market leader in publisher services, we
are committed to growing with our customers and providing long term
sustainable value. This acquisition, coupled with Cadmus' long
history of experience and specialized knowledge of the print
industry and publishing market, will permit us to expand our
position in the legal and business information market and also to
offer a broader range of press and finishing capabilities to our
publishing customers." Virtually all of the approximately 90
employees in Charlottesville and 35 employees in Conklin will
transition to Cadmus as result of the transaction. The deal will
not directly impact other LexisNexis operations. In announcing the
agreement, LexisNexis noted that it will be better able to
concentrate its efforts and investments in areas critical to
enhancing its competitive position in the markets it serves.
"Through this transaction with Cadmus, we can maintain and enhance
our position and capabilities in print while directing more of our
attention and resources to developing innovative solutions for our
customers," said Ed Gould, senior vice president of Global
Production for LexisNexis. "Cadmus has been a strong partner over
the years and we look forward to continuing to work closely with
them in the future." ABOUT LEXISNEXIS LexisNexis(R)
(http://www.lexisnexis.com/) is a leading provider of information
and services solutions, including its flagship Web-based Lexis(R)
and Nexis(R) research services, to a wide range of professionals in
the legal, risk management, corporate, government, law enforcement,
accounting and academic markets. A member of Reed Elsevier
(NYSE:ENL)(NYSE:RUK) (http://www.reedelsevier.com/), LexisNexis
serves customers in 100 countries with 13,000 employees worldwide.
ABOUT CADMUS Cadmus Communications Corporation provides end-to-end,
integrated graphic communications services to professional
publishers, not-for-profit societies and corporations. Cadmus is
the world's largest provider of content management and production
services to scientific, technical and medical journal publishers,
the fifth largest periodicals printer in North America, and a
leading provider of specialty packaging and promotional printing
services. Additional information about Cadmus is available at
http://www.cadmus.com/. Statements contained in this release
relating to Cadmus' future prospects and performance are
"forward-looking statements" that are subject to risks and
uncertainties that could cause actual results to differ materially
from those expressed or implied by such statements. Factors that
could cause actual results to differ materially from management's
expectations include but are not limited to: (1) the overall
economic environment, (2) the equity market performance and
interest rate environment, which can impact our pension liability,
(3) the impact of price increases for energy and other materials
and services affected by higher oil and fuel prices, (4) our
ability to grow revenue and market share in the educational and
government services markets, (5) significant price pressure in the
markets in which we compete, (6) the loss of significant customers
or the decrease in demand from customers, (7) our ability to
continue to obtain improved efficiencies and lower production
costs, (8) the financial condition and ability to pay of certain
customers, (9) our ability to implement and realize the expected
benefits associated with our equipment replacement and
consolidation plan, including our ability to successfully complete
certain consolidation initiatives and effect other restructuring
actions, (10) our ability to operate effectively in markets outside
of North America, (11) our ability to realize the tax benefits
associated with certain transactions, (12) our ability to implement
and realize the expected benefits associated with our increased
operations in Asia, and (13) if the previously announced merger
with Cenveo, Inc. is not consummated, (a) our ability to operate
effectively with higher levels of debt and reduced equity and
earnings due to costs associated with the merger effort, (b) our
ability to retain key employees, (c) the potential negative impact
on the Company's common stock price, and (d) the general disruption
on customers and operations associated with the merger effort.
Other risk factors are detailed from time to time in our Securities
and Exchange Commission filings. The information provided in this
release is provided only as of the date of this release, and we
undertake no obligation to update any forward- looking statements
made herein. DATASOURCE: Cadmus Communications Corporation CONTACT:
Paul K. Suijk, Senior Vice President and CFO of Cadmus
Communications Corporation, +1-804-287-5694 Web site:
http://www.cadmus.com/ http://www.lexisnexis.com/
http://www.reedelsevier.com/ Company News On-Call:
http://www.prnewswire.com/comp/115581.html
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