Kevin Abergel, founder and CEO of Taktiful Software Solutions, expressed his enthusiasm for the launch stating, “Our journey began with a deep understanding of the pain points within the print embellishment industry. With Taktiful Software Solutions, we are not just offering tools; we provide an integrated platform designed to empower our users with the capability to excel and drive market adoption for digital print embellishments.”

Co-founder Carlo Ruas commented on the launch, “We’re not just creating software; we’re crafting a new narrative for the print embellishment sector. Our tools are built to empower; our technology primed to innovate. With Taktiful Software Solutions, we envision a world where the beauty of print and the precision of technology coalesce to create unprecedented value for our clients.”

The company is working to release their SaaS products by Drupa 2024:

Taktify: A cloud-based AI-powered estimating and pricing software platform that provides the exact costs of production as well as the estimated market value for embellished print based on variables including job complexity, applications, zip codes, and industry verticals.
Reaktor: A cloud-based art file visualizer that lets you proof and experiment with different embellishment effects in a virtual 3D environment.
Kreator: A cloud-based generative AI tool that allows users to quickly and efficiently design embellishment masks for their print files using Taktiful’s proprietary training data.

“By eliminating a lot of our administration, and ganging up jobs from across the country, we are saving our customers a lot of money.” says Michael Heggie, president of parent company, Grovetree Press. “Times are tough for a lot of us and GrovetreeGo allows small printers to offer a profitable add-on without the overhead or monthly payments that machinery brings.”

GrovetreeGo also sells lamination equipment and film.

“We are excited to invest back in the industry and its future, and there is no better place to start than with our members and their families,” says Nathaniel Grant, board chair.

The association has initially dedicated $10,000 per year towards supporting this initiative.

Eligibility criteria

• Children of full-member company owners in good standing with the National Print and Sign Owners Association, who are pursuing a career in printing management, printing technology, or graphic design within the print and sign industry are eligible to apply.
• Students currently enrolled or planning to enrol in a printing or graphics program at a North American technical school, college, or university, whether part-time or full-time, are eligible.
• Students must have a grade point average (GPA) of 3.0 or better.
• As part of the scholarship application, applicants are required to submit official transcripts and a 1,000-word essay outlining their career goals and reasons for seeking the scholarship.
• Applicants may be asked to participate in a Zoom interview with NPSOA’s board of directors.

Selection process

• Applications must be received on or before May 31, 2024.
• NPSOA’s board will evaluate each application carefully and award scholarships to those who best meet the criteria, with a focus on the application essay.

Scholarship amounts

• Each scholarship shall be at least $2,500.
• Students may apply to have their scholarships renewed provided they maintain their 3.0 GPA.
• They must also agree to provide an update on their progress via a Zoom call with NPSOA’s board.

This investment will allow them to crease, fold and perf both paper and cardstock in-line with consistent accuracy.

Multigraf is a Swiss manufacturer of print finishing solutions.

The Print Impact Report, the company’s latest annual printing industry report, compares how 300+ marketing decision makers are planning, executing, and adjusting their strategies as well as integrating technologies into print marketing campaigns.

The Print Impact Report found marketers are embracing technology to support their print campaigns, with 31 per cent of marketers planning to use AI to support their print marketing efforts and 32 per cent already using the technology. The study also found that 39 per cent of marketers have adopted web-to-print technology, citing the following main advantages: reduced costs through on-demand printing (50 per cent), personalization and customization of the message (37 per cent), improved efficiencies and streamlined workflow (36 per cent) and enhanced brand consistency (31 per cent). Additionally, 50 per cent of marketers shared they use QR codes in their print marketing and expect for that to continue.

“Modern marketers are prioritizing innovation to uphold print’s relevance and effectiveness as a tool within their omnichannel arsenals,” said Margo Yohner, senior vice-president of growth, Commercial Print, RRD. “Companies are not simply abandoning print; they’re actively seeking ways to optimize its value.”

Print’s relationship status with digital isn’t complicated

The data shows a strong agreement among marketers that print can effectively complement digital efforts by reinforcing digital messaging and driving traffic to online channels. The report found that a “digital primary, print secondary” combination is seen as the most effective approach by marketers (48 per cent), further highlighting the value of print in supporting digital efforts.

Additionally, the report highlights that 94 per cent of marketers are using print marketing to overcome digital fatigue; the top three strategies are personalizing print materials for targeted messaging (62 per cent), integrating print with digital campaigns for cross-channel engagement (46 per cent) and leveraging print for brand storytelling and establishing credibility (41 per cent).

“Print complements digital rather than competing with it. With the ongoing growth of digital marketing, print serves as an effective enhancement to digital channels,” said Stefanie Cortes, director of strategic analysis, Direct Marketing Group, RRD. “By embracing new technology, marketers can evolve the print-digital connection from isolated approaches to integrated ones and deliver highly impactful results.”

First-party data is the fuel powering personalized print campaigns

RRD’s report confirmed that marketers are looking to connect with audiences on a deeper level, with more than two-thirds (68 per cent) of organizations reporting that they are currently personalizing their print communications.

In the midst of a crowded digital environment and shifting data regulations, organizations have prioritized how they obtain and utilize first-party data. For marketers working with a print vendor to personalize their communications, two-thirds of these marketers (66 per cent) cite customer feedback as one of their primary sources for first-party data, with customer demographics (59 per cent), email engagement (57 per cent), buying history (51 per cent), and location data (48 per cent) serving as additional other sources.

To read the full report, visit rrd.com/print-impact.

“Our presence across the country, from Vancouver to Montreal, underscores our dedication to being close to our customers, understanding their needs, and delivering customized solutions with a quick time to market,” said George Boustani, managing director, ePac Canada. “The addition of the HP Indigo 200K to our Toronto plant allows us to scale our operations and continue providing eco-friendly, high-quality packaging solutions that meet the dynamic needs of our clients.”

The original cost for UltraColor MAX DTF transfers was a flat rate $0.06 per square inch. With the new pricing model, the cost starts at $0.06 cents per square inch and decreases as low as $0.04 per square inch as the order quantity increases. Quantity price breaks are based on the number of single pieces ordered per individual design.

Stahls’ is also offering more savings potential with free freight on UltraColor MAX orders over $149.

Read more about the new pricing and shipping at blog.stahls.com/dtf-price-breaks.

Mensaha has also joined the Vulcan Foundation Customer Program, giving them priority for earliest delivery of Highcon’s next generation digital die cutting platform for corrugated production. Menasha is the sixth and final member to join this program.

The Vulcan has a maximum sheet size of 1.4 x 1.7 m and supports boards up to 5 mm, including microflute, B, C, and EB flutes. Like all Highcon systems, Vulcan will combine physical creasing with laser cutting.

”We are impressed with how fast we have started production ramp up. Within three weeks from systems delivery, we have commenced full ramp up on both systems and we are certainly off to a good start,” said president of Menasha Packaging Michael Riegsecker. “This has given us the confidence to move into the next phase and extend digital die cutting to corrugated.”

The TH 82 replaces two older buckle folders and is used for folding the company’s 16-page signatures. Heidelberg’s PFX Feeder is designed to feed sheets like the feeder of a printing press – with the sheets shingled and underlapped in the first folding unit instead of feeding them conventionally with a sheet gap. The underlapping of sheets (shingling sheets) on the infeed register table nearly doubles the number of sheets that can be processed versus conventional sheet gap feeding at the same running speed.

According to Cober, “With our older streamfed folders, we would have three people running two folders. Now it’s one person on one folder at twice the speed.”

Cober is also saving labour while increasing throughput with its new robotic P-Stacker – a six-axis industrial robot that autonomously places each signature pile from the folder’s delivery onto a pallet. This automation complements Stahlfolder’s Push to Stop function, where the system automatically changes from one signature to the next.

Stacking up to 300 signature piles per hour, the P-Stacker helps eliminate a very physical element of the folding process for Cober’s operators. “There’s an ease of onboarding new team members into an automated environment,” said Cober. “We can bring in operators with no printing experience and have them running equipment within a few weeks whereas before, that was completely a pipe dream.”

Operating out of Toronto since 1986, Lamin-8 delivers printing, mounting and finishing services to clients across a whole host of sectors. Customers include commercial printers, graphic designers, architects, schools and students, professional photographers, galleries, artists, and commercial graphics providers.

Lamin-8 also works with a range of private clients, offering high quality print and finishing across all manner of applications. The company recently teamed up with Drytac to complete one such project: a bespoke dance floor for a wedding reception.

The application measured 20 x 20 ft and featured a black and white design, complete with the first initials of the bride and groom, along with their now-family name, the Archers. Other aspects of the design included a lined border around the edge of the dance floor and a large graphic in the centre.

Core challenges for Lamin-8 included ensuring the printed piece would not be damaged by people dancing on top of the application during the reception. In addition, Lamin-8 had to consider issues such as potential slip risks that the graphic may pose.

For this reason, Lamin-8 chose to work with Drytac SpotOn Floor 200. This monomeric PVC film is designed for use in short-term, indoor floor graphics without the need for lamination.

“We have been working with Drytac products for more than 20 years and they are well known for delivering amazing solutions for use in many different applications,” Lamin-8 president Michael Isaacs said. “For this project, we chose to work with SpotOn Floor 200 as we know that it is great for short-term applications. We had used this product before in an airport and were well aware of its qualities.”

Lamin-8 printed all graphics for the application in house using its HP Scitex FB500 flatbed printer and installed the piece on site for the customer.

“Our client was taken aback with the quality and performance of the product,” Michael said. “Another key feature was the removal; this was a quick process that required little effort and left no adhesive behind on the floor.”

“This marks our second investment in a litho press from Koenig & Bauer within the past four years,” said Ron Harris, president and CEO of Jones Healthcare Group. “We’ve been highly satisfied with the performance and additional capabilities offered by our previous investment. By adding another Koenig & Bauer press to our lineup, we not only expand our capacity, but also enhance our ability to adapt to the diverse needs of our customers.”

This latest equipment acquisition coincides with the recent investments to enhance its finishing capabilities, and the U.S. compliance card sector.

“Jones Healthcare Group and Koenig & Bauer have a long-standing relationship that includes future R & D developments so that Jones always has the latest technology. For many years, we’ve had a special partnership with Jones that includes several strategic initiatives so that they remain the leading producer of folding cartons in the industry,” says Ralf Sammeck, CEO of Koenig & Bauer Sheetfed. “At Koenig & Bauer, we deeply value our partnership with Jones and congratulate them on this latest investment.”

Jones invested in ground-breaking features to enhance its operations and service and to develop customer-driven solutions. The new Koenig & Bauer Rapida 106 seven-colour has integrated simultaneous processes to ensure non-stop operation of the press and custom capabilities to analyze all press parameters in real time, such as aligning the printed product with the customer-approved PDF.

As a result of the restructuring and sale, the Company is able to continue its operations. Under the terms of the transaction, the company remains Canadian-controlled.

“With this transaction, Black Press is in a much stronger position to serve our valued Canadian and American readers, customers, employees, and communities over the long term,” said Glenn Rogers, chief executive officer of Black Press. “We thank our subscribers, advertisers and employees for their support throughout this process, and we look forward to continuing our mission of providing the best local coverage in all the markets where we operate.”

“We make this promise with confidence because we only ever use high-quality components and our printers are robustly built and very reliable,” said Carmen Eicher, chief sales and marketing officer at SwissQprint. “Customers have always appreciated our machines’ high uptime.”

The new warranty provisions apply with immediate effect to all new machines and for all models, namely the Kudu, Nyala, Impala and Oryx flatbed printers and the Karibu roll-to-roll printer. The provisions stipulate preventative maintenance intervals. “Preventative machine maintenance has always been a principle of ours to avoid problems arising in operation,” added Eicher.

Established in 1920, Maracle specializes in serving clients in the education, publishing, and financial sectors.

This agreement marks a significant milestone for Hothi, representing his seventh acquisition since 2022 and further enhancing his print solutions portfolio.

“I am thrilled to welcome Maracle into our family of companies,” said Hothi. “Maracle’s rich history, dedication to quality, and esteemed reputation perfectly complement our existing operations. This acquisition enhances our ability to serve clients across diverse industries and reinforces our position as a leading print solutions provider in Canada.”

Under the terms of the asset agreement, Maracle will continue its operations in the same facility and under the same name. The former shareholder group, who was represented by Connecting for Results in the transaction, will remain involved to ensure a healthy transition period.

“We are excited about the opportunities this acquisition brings,” said George Sittlinger, former Maracle president. “Under the leadership of Michael Hothi, we are well-positioned to continue our proud legacy of innovation and commitment to excellence in the printing industry.”

“With the acquisition of the Colorado M5W model, the Impression XL team is enthusiastic about fully leveraging the potential of high-profit projects, particularly by utilizing the white ink option for a variety of applications in the retail and interior decoration sectors,” said a media statement.

Fujifilm asserts four patents (U.S. Patent Nos. 10,427,443, 10,525,696, 10,875,346, and 11,294,279) pertaining to various aspects of processless lithographic printing plate technologies, including method and apparatus claims, were infringed upon.

Fujifilm is seeking remedies including damages and injunctive relief related to Eastman Kodak’s unauthorized commercial manufacture, use, offer to sell, or sale within the United States, and/or importation of its processless lithographic printing plate products that infringe the four asserted patents, including those sold under the product name “SONORA X” and the brand umbrella name “SONORA XTRA”.

“Fujifilm is committed to protecting its significant research and development investments, and in bringing innovative printing plate technologies to customers around the world,” commented Toyoyuki “Tommy” Katagiri, division president, Fujifilm North America, Graphic Communication Division. “We will enforce and protect our innovation and intellectual property rights in the United States and around the world when we believe others infringe unfairly.”

Separately in October 2023 and December 2023 respectively, Eastman Kodak’s European subsidiaries, Kodak GmbH, Kodak Graphic Communications GmbH, and Kodak Holding GmbH, were sued by Fujifilm for infringement of the related European counterparts of the U.S. patents-in-suit in the Unified Patent Court and in Germany.

“We will continue to protect our intellectual property in processless lithographic printing plates, to the benefit of our customers, including small, family-owned printing businesses, as well as medium- and large-sized printing businesses,” added Katagiri.

“Digital adoption in the folding carton sector to date has been initiated primarily with early adopters, those who are considered visionaries and digital enthusiasts. This has been good for the industry in that it has allowed technologies, business models, and workflows to be evaluated and tested, strengths to be leveraged and weaknesses to be remedied,” said Kevin Karstedt, VP of Keypoint Intelligence’s Packaging service. The next group of converters looking for adoption is the early majority who are more pragmatic in their thinking and will invest in areas that will have the largest impact on their business. “There are marked differences in how each of these converter groups need to be marketed, sold to, and supported, what works for one group will not work for the other,” added Karstedt. These differences are highlighted in the report and are coming at just the right time as the market is poised to enter a new phase of implementation with meaningful changes in technology and productivity. The next few years are going to be very interesting,”

“In 2024, a few new solutions are coming into the market that will take production levels much closer to analog presses in a B1 format,” said Jeff Wettersten, VP of Keypoint Intelligence’s Packaging service. “If the digital market targeted proves to be successful, it will propel the industry into the second phase of digital adoption, focusing on addressing the entirety of production costs.”

The State of the Industry: Folding Carton Report can be accessed here.

According to the LCA, printing corrugated materials on an EFI Nozomi digital press reduces global warming potential (GWP) by approximately 50 per cent when compared to analog printing technologies.

“No printing plates, less energy, less waste, and just-in-time (JIT) manufacturing all contribute to CO2e reductions for corrugated printing on EFI’s Nozomi digital press,” said Seri McClendon, CEO of Clean Agency. “Packaging is a major contributor to Scope 3 emissions, so we not only partnered with EFI to conduct the LCA, but also to build a calculator that enables users to quantify related kilograms of CO2e for specific packaging printing volumes and applications.”

Scope 3 emissions refer to indirect emissions that occur in the value chain of an organization, including both upstream and downstream activities, and represent a significant portion of a company’s carbon footprint.

For prospective customers, brands, and retailers, the LCA tool can calculate the CO2e of a given print job on Nozomi technology, as well as project and compare what the same job would generate on other printing technologies, including flexography, offset litho, and digital pre-print.

“We are pleased with the results of the LCA and are pursuing independent third-party verification of the findings for additional validation, which we anticipate coming in April,” said Evandro Matteucci, EFI’s VP/GM of building materials and packaging. “It’s an iterative process, and we will continue testing and proving the LCA with our customers going forward.”

The “news is devastating for the journalists and media workers who have continued to deliver local news for communities throughout Atlantic Canada and who have been through numerous challenging times,” said Unifor’s national president Lana Payne. “This one cuts close to home as I got my start in journalism many years ago at the St. John’s Telegram. I know how committed these media workers are.”

“This is yet another massive hit to local news that threatens the jobs of hard-working journalist and media worker members and worsens what has been a growing number of news deserts across this country. We stand by our members as we weather this storm together,” Payne added.

There are 35 Unifor Local 441-G members working as reporters, videographers, printing press, and in advertising at the Telegram who were notified by the company’s chief operating officer Ian Scott of its Companies’ Creditor Arrangement Act (CCAA) filing.

The private fund also claims the Chronicle Herald, the Halifax-based newspaper that SaltWire owns, owes $2.6 million for missed pension payments, according to the legal documents. The status of pension funding will be of particular concern to Unifor during CCAA proceedings.

CCAA is federal legislation designed to provide large companies the opportunity to restructure their operations and/or their financial obligations in order to continue in operation once the crisis that led to the filing of the CCAA application is addressed. It is also used as a way to liquidate companies in an orderly way.

Unifor will expect the courts supervising the CCAA process to diligently consider employee interests and strictly apply the limited rules that protect employees instead of lenders.

Meanwhile, the loss of local news across Canada – including in the Atlantic region – is devastating as this comes on the heels of Metroland newspaper closings and Bell Media layoffs.

“Employees and members at the Telegram, who consistently punch above their weight, were hoping that their recent sacrifices through tough pandemic times would help stabilize the company and pay off with job security,” said Unifor Atlantic regional director Jennifer Murray. “Instead, they now face the stress and uncertainty of their paycheques, benefits, pensions and severance at risk, while watching their communities’ democracy suffer with every additional news media bankruptcy or restructuring.”

The union has not received any word of changes in day-to-day operations, including layoffs, and will continue to monitor the situation and keep the membership informed.

Unifor represents more than 10,000 media workers, including journalists in the broadcast and print news industry.

“We had a solid first quarter despite persistently challenging market conditions,” said Thomas Morin, president and CEO of TC Transcontinental. “This performance is largely attributable to cost reductions in line with our priorities and the profitability and financial position improvement program announced in December.

However, operating earnings before depreciation and amortization increased by $6.8 million, or nine per cent, from $75.9 million in the first quarter of 2023 to $82.7 million in the first quarter of 2024. Adjusted operating earnings before depreciation and amortization increased by $12 million, or 14.3 per cent, from $84.1 million in the first quarter of 2023 to $96.1 million in the first quarter of 2024. These increases were mainly due to cost reduction initiatives, partially offset by lower volume.

“The Packaging Sector had an excellent start with a 29.6 per cent growth in adjusted operating earnings before depreciation and amortization for the quarter compared to last year, as the initiatives implemented to reduce our costs and a more favourable product mix more than offset the softer demand across the market. While there are still uncertainties surrounding short-term demand, we are satisfied with the progress made with the deployment of new equipment related to our strategic investments and the market interest in that respect.

“In our printing sector, our cost reduction initiatives allowed us to mitigate the persistent challenges facing our book printing activities. We are encouraged by the opportunities in our retail related services, in particular the continued roll-out of Raddar [flyer] as well as our in-store marketing activities.

“I’m pleased that our two-year program aimed at improving our earnings per share and our financial position has already started to show results. By the end of the second quarter, we will have reduced our overall workforce by six per cent. We also achieved significant cost of goods sold savings, and our solid earnings and free cash flows enabled us to reduce our indebtedness ratio to 2.00x at the end of the first quarter.”

“Our financial position is solid, and we expect to generate significant cash flows by the end of fiscal 2024 that will enable us to pursue our debt reduction objective,” said Donald LeCavalier, executive vice-president and CFO of TC Transcontinental.

The company believes sustainable packaging solutions position should be a key driver of long-term growth. In the printing sector, the company expects lower volume in their traditional activities. They expect to offset this decrease by cost reduction initiatives and the continued roll-out of the Raddar flyer.

Advertek offers a wide array of services such as lithography and digital printing, wide format, dye sublimation, and promotional items. This acquisition marks a significant milestone in Advertek’s 25-year journey as a commercial printing and photo imaging services provider.

“This strategic move not only broadens our technological horizons, but also significantly boosts our capacity to provide personalized and embellished products,” said Joe Montalbano, co-CEO of Advertek. “This strategic move not only diversifies Advertek’s portfolio, but also promises to deliver increased value and innovative solutions to its clients all across North America.”

“Integrating CCI’s specialized skills distinctly positions us to offer bespoke, high-quality printed products, further distinguishing our services in the market,” added Simon Spina, co-CEO, of Advertek. “Advertek is set to expand its capabilities and reinforce its position at the forefront of the printing industry.”

Known for layflat photo books and premium canvas prints, CCI has HP Indigo presses, Smyth sewing machine as well as an MGI Jet Varnish and Epilog Engraving Laser.

This would result in one-time rebates between $2,600 and nearly $7,000 in Ontario, Manitoba, Saskatchewan and Alberta – the provinces under the federal carbon backstop since the beginning. In the four Atlantic provinces that came under the carbon tax just eight months ago, rebates would be between $630 and $1,060, according to CFIB estimates.

“That’s a big chunk of money that small business owners could really use right now. It’s deeply unfair that five years into the program, Ottawa is still sitting on over $2.5 billion it owes to small firms,” said CFIB president Dan Kelly. “Enough is enough. The government must act now and return the promised carbon tax revenues to all small businesses in the eight provinces under the federal backstop.”

The federal government is also cutting SME rebates promised to small businesses to five per cent from nine per cent.

“Rather than viewing small businesses as a partner on climate change, the federal government clearly sees them as the just the source of a big bag of cash to deal with political sensitivities over the carbon tax,” Kelly added. “While small firms take no issue with increased rebates for rural residents and Indigenous organizations, it is outrageous that the tiny sliver of rebate revenue aimed at small businesses would be cut nearly in half to pay for it.”

CFIB continues to call for fairness for small businesses and push the federal government to:

• immediately return the $2.5 billion owed to all small businesses since 2019;
• scrap the idea of returning the SME allocation only to “emissions-intensive, trade-exposed” businesses in favour of a simple rebate for all SMEs;
• scrap the plan to reduce the SME share of carbon tax revenue from 9% to 5% in 2024 and rebate it annually;
• increase the SME rebate to 40 per cent of carbon tax revenue – the share CFIB estimates comes from business;
• pass Bill C-234 as originally proposed to exempt natural gas and propane used for on-farm activities, including grain drying and heating farm buildings;
• freeze the carbon tax rate at its current level; and
• exempt all heating fuels, including natural gas.

“We are confident that the synergy between RWB Boswell Graphics and our group of companies will meet the needs for products, services, and technical support of printers,” said Stéphane Fortin, president of Technorol and RWB Boswell Graphics.

Robert Boswell, general manager of RWB Boswell Graphics, added, ” This acquisition sets the stage for a new chapter of growth and opportunities for our team and customers alike. This acquisition will enhance our ability to provide additional products to our existing customer base and to serve and meet their evolving needs.”

This over 20+ years old company recently acquired a Canon Arizona 1380 GT, eight-colour UV-LED flatbed printer.

With this acquisition, the Lion de l’image team will be able to provide personalized and high-quality service for wall decoration projects.

As Phase 1 in the transition to a unique Employee-Management Partnership (EMP), 50 per cent of Annex Business Media shares are now owned by a broad management team.

Phase 2 will see the remaining Annex employees more closely integrated with the financial success of the company through an Enhanced Employee Incentive Program (EEIP).

Annex has been working with consultants Ernst & Young (EY) for the last 10 months to secure financing and find an option to dedicate up to 50 per cent of after-tax profits to power this significant employee benefit, and will continue to do so in the coming months. It is expected that this second phase will be completed prior to year-end.

Annex founders Mike and Sue Fredericks have been instrumental in shaping the new ownership structure, and will serve as co-chairs on the company’s board of directors.

“Sue and I are really excited to pass on the ownership and legacy of Annex to the management and employees,” says Mike Fredericks. “We are very proud of Annex’s position as Canada’s pre-eminent business media company and feel we have the right management team and employee group in place at this moment in time.” Sue adds that today’s announcement is a “dream scenario for the Director of Soul. Offering the opportunity to ‘own’ Annex’s next phase to the people who helped to build our success is our way of paying it forward”.

Also effective immediately, Scott Jamieson is CEO of Annex Business Media and will serve on the board of directors. Scott has been with the company for 20 years, spending the past five as president and COO.

“Following Mike and Sue’s lead, Annex has often built its own path to success,” says Jamieson.  “Through their vision and generosity of spirit, the employees and management will have a rare opportunity to continue the Annex legacy, to build the enterprise along our core values and within our unique culture, and to benefit directly from its success while doing so. On behalf of all of us at Annex, I thank Mike and Sue and wish them the very best in their next act.”

The transaction was financed by TD Bank, with tax, financing and ownership structure consultation from EY.

Annex Business Media is Canada’s largest B2B media company with 60 media brands, such as PrintAction, serving the country’s business elite through an omni-channel network. Its 160 employees are based in two Ontario offices and across six additional provinces.

“CJ Graphics and Media Resources have worked together on many customer projects in the past to much success. This acquisition is the perfect solution for accelerating our growth in this exciting business sector. We believe CJG will add great value to MRI print clients because of the large variety of advanced print options we offer in our facility. This is truly a win-win for all clients and our collective staff,” said Jay Mandarino, president and CEO of CJ Graphics.

The divestiture of MRI’s large-format print division to CJG is part of a broader strategic change designed to concentrate MRI’s efforts and resources on its core competencies of end-to-end manufacturing of indoor and outdoor digital signage, 3D fabrication and installation services across North America. The relationship will also see CJG utilizing MRI’s installation, 3D and digital services for existing clients.

“When Jay approached us about the possibility of the acquisition of our print division, it was critical to ensure all Media Resources print employees would remain with CJGs and our existing print customers would continue to have the same level of service they have had with Media Resources. CJ’s capabilities in the print industry are second to none in the North American market and will provide great career opportunities for our staff. We could not be happier,” said Will Thomson, senior vice-president of Media Resources.

Despite the ongoing challenging global economic environment, which is being exacerbated by a number of factors such as higher energy, material and personnel costs, Group earnings before interest and taxes (EBIT) reached €29.9m. This places EBIT within the forecast range of €25m to €35m, which was adjusted on 8 November 2023. At €1,326.8m, Group revenue is at the upper end of the guidance of €1,300m. In the previous year, revenue amounted to €1,185.7m and EBIT to €22.0m. Consequently, revenue improved by 11.9 per cent compared to the previous year, while EBIT increased by €7.9m, translating into an increase of 35.9 per cent. The EBIT margin reached 2.3 per cent, compared with 1.9 per cent in the previous year.

The profitability despite the start-up and trailing costs in the Digital and Webfed segment is due to more efficient handling of inflation-induced additional costs (material, energy and personnel) as well as improved cost management in the third quarter as a result of the absence of any recovery in demand. At the same time, it was possible to largely pass on the higher energy, material and personnel costs, while the temporary increase in the costs of materials subsided again.

In the fourth quarter, Koenig & Bauer was able to remain on the growth trajectory that it had adopted in the first half of 2023, despite a weaker third quarter. In this regard, the final quarter showed its usual strength again, with revenues coming to €435.7m (previous year: €380.0m) and EBIT to €32.0m (previous year: €25.0m).

Order intake amounted to €1,287.9m at the end of the year, falling slightly short of the previous year’s historically high figure of €1,329.3m. The book-to-bill ratio stood at 1.0 in the fourth quarter, up from the previous year’s figure of 0.8. As planned, the order backlog contracted from €950.4m to €911.5m at the end of the year as a result of the completed deliveries.

Order intake in the Special segment increased by 37.1 per cent to €538.8m as of the end of the year (previous year: €392.9m). In the fourth quarter alone, order intake amounted to €268.1m, underpinned by an order in the Banknote Solutions business unit received from the United States Bureau of Engraving and Printing in Washington, D.C. At €413.7m as of 31 December 2023, revenue was slightly down on the previous year’s figure of €417.1m. However, at €23.0m, EBIT almost reached the previous year’s level of €23.2m.

At €606.2m, order intake in the Sheetfed segment was below the extremely high figure of €813.5m recorded in the previous year following a sequential improvement in the fourth quarter. However, the previous year had been characterized by post-pandemic catch-up effects as well as greater stockpiling by customers and brand owners as a result of supply chain and material bottlenecks. After a strong final quarter, revenue increased by 16 per cent to €779.8m (previous year: €672.2m). This performance is also reflected in EBIT, which climbed by 56.8 per cent to €29.8m (previous year: €19.0m).

At €179.8m, the Digital & Webfed segment recorded a 9.9 per cent increase in order intake (previous year: €163.6m). Revenue also climbed by 23.2 per cent year-on-year to €172.3m (previous year: €139.8m), not least due to a successful final quarter. EBIT was impacted by start-up and trailing costs in the second and third quarters in connection with the introduction of the new flexo, corrugated board and digital printing products, particularly in the second and third quarters, and amounted to €-23.9m after 12 months (previous year: €-19.3m).

Dr Stephen Kimmich, CFO, comments, “As we are still operating in an extremely challenging market environment, we have continued on our path aimed at improving operating profit. Nevertheless, we are aware that Koenig & Bauer needs to be more profitable looking forward. Just like our successful customers, we must focus on the value drivers that are spurring our transformation from a printing press manufacturer into a technology company. In addition, we have to address the challenges of a world characterized by rapid and unpredictable change.”

Koenig & Bauer continues to face a challenging macroeconomic environment in 2024. Even so, the management board expects the EBIT margin and revenue to remain stable at the previous year’s level in 2024. Accordingly, it projects operating earnings of between €25m and €40m and revenue of around €1.3bn. However, Group EBIT for 2024 will be burdened by up to €10m as a result of spending on Drupa.

The Special and Digital & Webfed segments should make a disproportionately large contribution to both EBIT and revenue. By contrast, the Sheetfed segment is expected to account for a disproportionately small proportion of earnings and revenue in the first half of 2024. In the Sheetfed sector in particular, a wait-and-see attitude ahead of the industry’s leading trade fair Drupa could lead to purchasing restraint.

Given the persistently muted economic situation, the company projects an EBIT margin of six to seven per cent in 2026 at the latest, accompanied by Group revenue of €1.5bn. In the medium term, it is looking for revenue of around €1.8bn and an EBIT margin of eight to nine per cent.

It completed a series of reorganizational activities that will allow it to save more than $10 million on an annual basis and break even during the second half of 2024. Activities included:

• a funding round from existing and new shareholders;
• debt restructuring; and
• temporary shutdown of major R&D projects and the respective reduction in force.

The company also secured a strategic deal with BHS Corrugated.

According to a media statement, the company’s customer base in its target markets of folding carton and corrugated have demonstrated consistent growth.

Highcon will be participating in Drupa 2024 and sees it as an opportunity to ignite its business.

The company ended 2023 with $7 million in systems backlog to be delivered in 2024, some of which was already delivered to customers and will be recognized as revenue in the first quarter of 2024. It should be noted that the company’s recurring revenues (consumables and services) increased by 20 per cent to $4.2 million in 2023 compared with 2022. The company expects such growth to continue in 2024. As such, the company expects significant growth in overall revenues in 2024 in comparison to 2023.

The company’s cash balance at the end of 2023 was $9.5 million including $0.9 million of restricted cash. Following the company’s actions related to cost reduction as well as its expected growth for 2024, the company expects to reach cash breakeven in the second half of 2024.

“2023 was a challenging year for Highcon as the global economy slow down, negatively impacted new order intake,” commented Shlomo Nimrodi, CEO. “R&D costs increased as the company invested in the development of the new product platform for the corrugated market. While making good progress on this development, which resulted in multiple commitments from new customers to purchase the future product, the impact was that the company faced a cash crunch.”

The integration automatically flows customer contacts in PrintVis for recent transactions into LoyaltyLoop, automating the feedback process. Feedback results automatically flow from LoyaltyLoop back into PrintVis, allowing users to monitor customer sentiments and act quickly.

Brandon Steele, product manager at PrintVis, said, “PrintVis consistently seeks valuable partnerships for the benefit of our customers, and our collaboration with LoyaltyLoop perfectly aligns with this commitment. By combining our expertise in print management with LoyaltyLoop’s customer engagement platform, we aim to empower print businesses with the tools they need to thrive in today’s competitive market. Together, we can help print businesses elevate their customer experience and drive sustainable growth.”

John DiPippo, owner and president at LoyaltyLoop, added, “One of our goals at LoyaltyLoop is helping printers increase their efficiency and drive their growth. The team at PrintVis share that goal, and we are proud to be their partner. By integrating our software, feedback and reviews can be gathered with virtually no effort, and monitoring customer experience metrics, like Net Promoter Score, will be at the printer’s fingertips inside PrintVis. By acting quickly on feedback that improves the customer experience, printers strengthen their business, brand, and bottom line.”

Staged for the first time in 2018, the Calgary National Bank Challenger is an indoor competition that is hosted at the Osten & Victor Alberta Tennis Centre, not far from Print Three Calgary’s facility in the Canadian city.

Print Three Calgary has worked with the event on several occasions, including in 2022 when it produced a range of colourful floor graphics. Organizers contacted the printing specialist again for the 2023 competition, requesting another set of floor graphics for a promotional event at the nearby Core Shopping Centre.

The idea was to create a temporary, indoor tennis court at the mall where visitors could take part in tennis challenges at the location to win free tickets to the Calgary National Bank Challenger and various other prizes.

Print Three Calgary was tasked with producing floor graphics depicting the tennis court. These graphics were to also feature official event branding and the names of companies supporting the contest, including both Print Three and Drytac.

Building on the success of the 2022 event, Print Three Calgary once again chose to work with Drytac, selecting SpotOn Floor 200 monomeric PVC film to produce the graphics. SpotOn Floor 200, which was also used for graphics at the 2022 competition, is designed for short-term, indoor non-slip floor graphics.

Print Three Calgary printed a total of 18 panels for the job, piecing them together to create the 36 x 26 ft (11 x 8 m) application. The company printed all graphics in house using its HP Latex 335 printer.

“We have been working with Drytac’s SpotOn and ReTac products on a wide range of applications for a number of years now; they have always been great materials for us to work with,” said Mark Eisan, general manager of Print Three Calgary. “This was another example of this success.”

CMG’s education, analysis and system integration resources are developed and executed by the company’s exclusive group of consultants. Alwan has provided the industry with bespoke colour management and process control for all print and packaging production applications and environments.

Lida Jalali Marschke, founder and owner of the Color Management Group, said, “We’re thrilled to work with Elie and his team as CMG becomes the new master distributor for Alwan in North America. I have always admired what Elie has accomplished, and I am confident that our combined experiences will benefit the industry.”

Alwan founder and CEO Elie Khoury is equally enthusiastic. “CMG has an A-list of consultants; experts who understand where Alwan products will serve providers best,” he says. “They have been asking for access to the Alwan product line, and now, with CMG as our distributor, they have it. Our customers are in good hands.”

Throughout his tenure at X-Rite, McKee has demonstrated leadership across various roles, and his insights have been instrumental in shaping X-Rite’s long-term success, a company statement said. He has overseen the finance, information technologies, and global services businesses, including inside sales, order entry, product management, and service centres. Additionally, he facilitated the company’s M&A strategy through several acquisitions.

“It couldn’t be a more exciting and important time to be leading X-Rite, as customers face new business challenges and make moves to create more sustainable manufacturing processes,” said McKee. “Our company is fuelled by an incredible team of talented associates, and I look forward to working with them as we expand and innovate our portfolio of solutions and continue to deliver world-class service.”

“As we look ahead, Jeff’s vision for the colour science and technology market aligns seamlessly with Veralto’s mission to create a safer, cleaner, more vibrant future,” said Mattias Byström, senior vice-president, product quality and innovation, Veralto. “Under his leadership, X-Rite will continue to innovate across hardware, software, and services, delivering digital workflow solutions that help customers meet their sustainability goals.”

X-Rite is an operating company in Veralto’s product quality and innovation segment.