Consolidated Graphics Acquires Certain Assets of The EGT Group, Inc.

Consolidated Graphics Acquires Certain Assets of The EGT Group, Inc.

PR Newswire

DETROIT, May 11, 2011 /PRNewswire/ — Consolidated Graphics, Inc. (NYSE: CGX) announced today that EGT Printing Solutions, a Consolidated Graphics company, has acquired certain assets of The EGT Group, headquartered in Detroit, Michigan. The EGT Group was founded in 1970 and grew to become one of the largest commercial printers in Michigan. Terms of the transaction were not disclosed. EGT Printing Solutions offers commercial and digital printing, data management, mailing and fulfillment.

Commenting on the acquisition, Joe R. Davis, Chairman and Chief Executive Officer of Consolidated Graphics, Inc., stated, “EGT Printing Solutions is going to continue to serve EGT’s customers with best in class service and state of the art solutions. With the additional resources of Consolidated Graphics, including the world’s largest and most sophisticated digital printing network and leading edge technology, EGT Printing Solutions and its employees will continue to exceed every customer expectation.”

Jon Strager and Michael Gonte, owners of The EGT Group, commented, “We have long admired the Consolidated Graphics business model and are excited to offer our customers all of the capabilities and solutions that Consolidated Graphics has to offer. We are looking forward to being a part of the future with EGT Printing Solutions and having the financial strength and resources of Consolidated Graphics behind us.”

Jim Cohen, Executive Vice President of Mergers & Acquisitions at Consolidated Graphics, added, “The recession has made it very difficult for independent printing companies to grow on their own. Even larger companies like The EGT Group that have established reputations have faced challenges. Our strong balance sheet, 650 salespeople and cutting edge technology solutions will enable EGT Printing Solutions to be a real juggernaut in the Detroit metropolitan area.”

Consolidated Graphics, Inc. (CGX), headquartered in Houston, Texas, is one of North America‘s leading general commercial printing companies. With 70 printing businesses strategically located across 27 states, Toronto, and Prague, Consolidated Graphics offers an unmatched geographic footprint, unsurpassed capabilities, and unparalleled levels of convenience, efficiency and service. With locations in or near virtually every major U.S. market, CGX provides the service and responsiveness of a local printer enhanced by the economic, geographic and technological advantages of a large national organization.

Consolidated Graphics’ vast and technologically advanced sheetfed and web printing capabilities are complemented by the world’s largest integrated digital footprint. By coupling North America‘s most comprehensive printing capabilities with strategically located fulfillment centers and industry-leading technology, CGX delivers end-to-end print production and management solutions that are based on the needs of our customers to improve their results. For more information, visit www.cgx.com.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, in which the Company discusses factors it believes may affect its performance or results in the future. Forward-looking statements are all statements other than historical facts, such as statements regarding assumptions, expectations, beliefs and projections about future events or conditions. You can generally identify forward-looking statements by the appearance in such a statement of words like “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “potential,” “predict,” “forecast,” “project,” “should” or “will” or other comparable words or the negative of such words. The accuracy of the Company’s assumptions, expectations, beliefs and projections depend on events or conditions that change over time and are thus susceptible to change based on actual experience, new developments and known and unknown risks, including those created by general market conditions, competition and the possibility that events may occur beyond the Company’s control, which may limit its ability to maintain or improve its operating results or financial condition or acquire additional printing businesses. The Company gives no assurance that the forward-looking statements will prove to be correct and does not undertake any duty to update them. The Company’s actual future results

might differ from the forward-looking statements made in this press release for a variety of reasons, including, continuing weakness in the economy, the growth of its digital printing business, seasonality of election-related business, its ability to adequately manage expenses, including labor costs, the unfavorable outcome of legal proceedings, the lack of or adequacy of insurance coverage for its operations, the continued availability of raw materials at affordable prices, retention of its key management and operating personnel, satisfactory labor relations, the potential for additional goodwill impairment charges, its ability to identify new acquisition opportunities, negotiate and finance such acquisitions on acceptable terms and successfully absorb and manage such acquisitions in a timely and efficient manner, as well as other risks described under the heading “Risk Factors” of our Annual Report on Form 10-K and the risk factors and cautionary statements described in the other documents the Company files or furnishes from time to time with the Securities and Exchange Commission, including its Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Should one or more of the foregoing risks or uncertainties materialize, or should the Company’s underlying assumptions, expectations, beliefs or projections prove incorrect, the Company’s actual results may vary materially from those anticipated in its forward-looking statements, and its business, financial condition and results of operations could be materially and adversely affected.

SOURCE Consolidated Graphics, Inc.

Be the first to comment

Leave a Reply