Cenveo Completes Acquisition of Nashua Corporation
16 September 2009 - 4:25AM
PR Newswire (US)
STAMFORD, Conn., Sept. 15 /PRNewswire-FirstCall/ -- Cenveo, Inc.
(NYSE: CVO) announced today that it completed its previously
announced acquisition of New Hampshire-based Nashua Corporation
(NASDAQ:NSHA), a recognized leader in the label and specialty paper
markets. (Logo:
http://www.newscom.com/cgi-bin/prnh/20070618/CENVEOLOGO) The
combined company is one of the largest manufacturers of
pharmaceutical, scale and shelf labels in the United States,
serving customers in the pharmacy, retail, and grocery markets as
well as a leader in the point of sale and wide-format printing
markets. Under the terms of acquisition, which was approved today
at a meeting of Nashua shareholders, each share of common stock of
Nashua will be converted into (i) $0.75 per share in cash and (ii)
1.265 shares of Cenveo common stock. Robert G. Burton, Chairman and
Chief Executive Officer stated: "Today marks the next step in
achieving our goal of diversifying our product lines into the
growth areas of the printing industry. We are excited about the
benefits of this acquisition for all of our stakeholders and
welcome our new shareholders and employees. This acquisition brings
together two industry leaders, both of which have much to offer one
another. We are impressed by the degree of synergy that is
available and are working to ensure that we combine the best of
both organizations." Cenveo (NYSE:CVO), headquartered in Stamford,
Connecticut, is a leader in the management and distribution of
print and related products and services. The Company provides its
customers with low- cost solutions within its core businesses of
commercial printing and packaging, envelope, form, and label
manufacturing, and publisher services; offering one-stop services
from design through fulfillment. Cenveo delivers everyday for its
customers through a network of production, fulfillment, content
management, and distribution facilities across the globe.
Statements made in this release, other than those concerning
historical financial information, may be considered
"forward-looking statements," which are based upon current
expectations and involve a number of assumptions, risks and
uncertainties that could cause the 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 update any
forward-looking statements made herein. Factors that could cause
actual results to differ materially from management's expectations
include, without limitation: (i) a decline of our consolidated or
individual reporting units operating performance as a result of the
current economic environment could affect the results of our
operations and financial position, including the impairment of our
goodwill and other long-lived assets; (ii) our substantial
indebtedness could impair our financial condition and prevent us
from fulfilling our business obligations; (iii) our ability to
service or refinance our debt; (iv) the terms of our indebtedness
imposing significant restrictions on our operating and financial
flexibility; (v) additional borrowings are available to us that
could further exacerbate our risk exposure from debt; (vi) our
ability to successfully integrate acquisitions; (vii) intense
competition in our industry; (viii) the general absence of
long-term customer agreements in our industry, subjecting our
business to quarterly and cyclical fluctuations; (ix) factors
affecting the U.S. postal services impacting demand for our
products; (x) the availability of the Internet and other electronic
media affecting demand for our products; (xi) increases in paper
costs and decreases in its availability; (xii) our labor relations;
(xiii) compliance with environmental rules and regulations; and
(xiv) dependence on key management personnel. 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 http://www.cenveo.com/. Inquiries from analysts and
investors should be directed to Robert G. Burton, Jr. at (203)
595-3005. http://www.newscom.com/cgi-bin/prnh/20070618/CENVEOLOGO
http://photoarchive.ap.org/ DATASOURCE: Cenveo, Inc. CONTACT:
Robert G. Burton, Jr. of Cenveo, Inc., +1-203-595-3005 Web Site:
http://www.cenveo.com/
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