11 American Inks & Coatings
3400 N. Hutchinson St.
Pine Bluff, AR 71602
Phone: (870) 247-2080
Fax: (870) 247-5317
Sales: $100 million in ink and coatings.
Major Products: Water- and solvent-based flexo and gravure packaging inks and coatings; UV and EB coatings.
Key Personnel: Jerry Mosley, CEO; Michael Mosley, COO; Scott Clark, VP and general manager.
Number of Employees: 220.
Operating Facilities: Pine Bluff, AR; Winston-Salem, NC; Shreveport, LA; Portland, OR; Ontario, CA; San Leandro, CA; Dallas, TX; Atlanta, GA; Louisville, KY; Chicago, IL.
Comments: There has been more merger and acquisition activity in the packaging side of the ink industry, as the packaging printing market continues to grow. American Inks & Coatings (AIC), the sixth-largest U.S. packaging ink manufacturer, has been in the forefront of the M&A activity, adding Color Resolutions International (CRI) through an asset purchase arrangement in December 2013; the deal is expected to close by the end of April 2014.
“We can see the light at the end of the tunnel,” said Michael Mosley, AIC’s COO.
Headquartered in Fairfield, OH, CRI was the 19th largest North American ink company in 2012, with estimated sales of $55 million in 2012. AIC has 220 employees, while CRI has more than 120 employees.
AIC and CRI are exclusively packaging ink and coatings, although they serve different markets. AIC’s key markets include water- and solvent-based inks for flexible packaging, folding carton, multi-wall bags and gift wrap ink markets. The company did enter the corrugated ink market with its 2012 acquisition of Graphic Sciences.
CRI is largely focused on the corrugated printing market. CRI also has made inroads into Latin America, opening Color Resolutions de Mexico. CRI will continue as a subsidiary of AIC, and George Sickinger, CRI’s chairman, CEO and president, will continue with the company.
“With the acquisition, the combined companies are well positioned to focus on the changing needs of both the flexible packaging and corrugated market as they continue to consolidate,” Jerry Mosley, CEO of American Inks & Coatings, said.
Michael Mosley noted that the flexible and corrugated segments were both particularly strong for AIC in 2013.
“We had a good year in 2013,” Michael Mosley said. “We grew about 10% in sales, and our top line growth is there. However, there is a lot of pressure on the bottom line. All of our markets did well, with flexible and corrugated standouts.”
Once the CRI acquisition is finished, AIC will put an emphasis on blending in its new products and facilities.
“I think 2014 is a time for us to get our arms around what we have,” Michael Mosley said. “We have a lot of opportunities in flexible and corrugated. We want to come up with a vision of what we want to become.”