Flint Group has announced an agreement in principle to acquire Day International, a world leader in the supply of printing blankets, sleeves, image transfer media and pressroom chemicals. Day will operate as a business unit within Flint Group, and the combined group will rank among the largest pressroom consumable suppliers in every region it serves.
Nearly 8,300 employees will serve customers from 170 sales, service and manufacturing locations on five continents. Combined revenues for 2007 are estimated to be €2.55 billion (US $3.32 billion).
The agreement was signed on 20 April, with closing expected to occur in 30 to 60 days, subject to necessary regulatory approvals.
"By combining the complementary product lines of the two companies, we are creating a stronger supplier with a significantly broader range of products for our customers around the world," said Dave Frescoln, CEO of Flint Group. "In addition, Day's image transfer technologies provide a strong avenue to market for all of our products, in both conventional and digital printing."
"Combining Day International's range of products with those of Flint Group creates an exceptionally strong portfolio to support printers around the globe," stated Dennis Wolters, president and CEO of Day. "The expanded organisation will be in a strong competitive position in the best sense, allowing customers to meet most of their pressroom needs from a single, trusted resource."