Sun Chemical announced the sale of certain assets of its Sun Graphic press blankets business to Day International, a leading blanket supplier to the industry. The asset purchase is subject to the satisfaction of the customary closing conditions and is expected to be effective Aug. 31, 2006. The two companies will also enter into a distribution agreement for the sale of Sun Graphic blankets.
“After careful examination of business conditions, we concluded it would be best to divest this smaller portion of our business,” said Mark J. Levin, president, Sun Chemical North American Commercial Group. “However, we were eager to find a partner like Day International that we could continue to work with to supply a total printing solution to our commercial printing customers. Day has agreed to continue to supply Sun Graphic blankets to Sun Chemical for the commercial sheetfed, packaging, coldset web (single wide) markets.
“Sun Chemical will close the Sun Graphic blanket manufacturing facility in Pompano Beach, FL, effective Aug. 31, 2006. That decision was made due to anticipated high investment costs necessary to meet regulations and boost operational efficiency,” Mr. Levin said.