VESTCOM INTERNATIONAL, INC. COMPLETES THE ACQUISITION OF CERTAIN ASSETS OF GRAPHIC TECHNOLOGY, INC.
Little Rock, AR – November
30, 2004 - Vestcom International, Inc. (“Vestcom”), a leading provider of retail, marketing and business communication services, today announced the signing of a definitive agreement to purchase certain assets of Graphic Technology, Inc. (“GTI”), a wholly owned subsidiary of Nitto Americas, Inc., part of the Nitto Denko Corporation.
GTI is a leading U.S. printer and converter of pressure-sensitive labels and related products for major retailers in the drug, grocery and mass merchandiser markets. The company services a significant share of the retail shelf-edge marking industry, including four of the top five drug chains, four of the top ten grocery chains and a leading mass merchandiser. GTI’s innovative shelf-edge solutions have produced several U.S. patents.
“This acquisition is a perfect strategic fit for Vestcom and represents a significant step in the growth of our retail communication services business,” said President and Chief Executive Officer, Steven R. Bardwell. “The combination of GTI’s world class converting capability and Vestcom’s print-on-demand network will provide our retail clients with many new options for enhancing communications with their consumer customers while controlling costs through increased efficiencies.”
“The decision to offer certain GTI assets for sale was made because the core business associated with those assets was not aligned with Nitto’s long term objectives,” said William J. Leonard, President of GTI and Chief Financial Officer of Nitto Americas, Inc. “However, GTI’s customers, employees and suppliers will be excited that same core business is exactly aligned with Vestcom’s long term objectives.”
GTI has headquarters in New Century, Kansas, with additional manufacturing facilities in South Easton, Massachusetts, and Hatboro, Pennsylvania. Vestcom has headquarters in Little Rock, Arkansas, with additional service centers throughout the U.S. and Canada.
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