In a move that further strengthens Flint Ink Corporation’s position in heat and news web offset, water-based news, flexo, sheetfed, metal decorating inks and top lacquers, Flint Ink has announced that it has acquired all of the business and operating assets of The Ink Company, effective Oct. 8, 1999.
Headquartered in West Sacramento, CA, The Ink Company was founded by George Tholke, its president, 22 years ago. The Ink Company reported $130 million in sales in 1998, a growth of 4 percent over 1997.
Flint Ink Corporation has its headquarters in Ann Arbor, MI. It is presently the second largest printing ink manufacturer worldwide, with 1998 sales topping $1 billion.
The Ink Company manufactures inks and coatings for the newspaper, heatset, sheetfed and package printing markets. Since its founding in 1977, the company has built a system of mother plants and satellite operations to meet the needs of its customers nationwide.
H. Howard Flint II, chairman and CEO of Flint Ink, said the similar strengths of the two companies should prove to be the foundation for future successes.
“There is no question that The Ink Company and Flint Ink share strengths in the same markets,” Mr. Flint said. “By bringing the two companies together, we can take the best of both and make something even better in terms of services and products for our customers.”
“The Ink Company was the fourth largest ink manufacturer in the North American market,” said Dave Frescoln, president and COO of Flint Ink. “They developed a very diversified business encompassing most product lines, and this represented a value-added complement to our business.”
Company officials say that the transition is expected to be completed in a smooth and orderly fashion, with no interruption or delaying service to customers. Integration of operations will maximize synergies between the two companies and provide additional benefits to customers.
Flint Ink has been aggressively pursuing acquisitions within the U.S. and worldwide, as it continues to expand its international presence. In addition to the acquisition of The Ink Company, Flint Ink also announced the purchase of Polychem S.A. (Argentina) on Oct. 1, one week prior to The Ink Company acquisition.
“We are strengthening our global position by expanding through local acquisitions and Polychem S.A. provides a foundation for growth in Latin America,” Mr. Flint said. “Polychem S.A. will play a strategically important role in our success.”
Polychem S.A. is Argentina’s largest ink manufacturer, and supplies solvent- and water-based inks and coatings for customers in Argentina, Brazil, Chile, Paraguay and Uruguay. Flint Ink officials said they expect to incorporate its own blending operations in Buenos Aires into Polychem S.A.’s facility.
For more than 24 years, Color Converting Industries (CCI) has been an influential force in the ink industry. Led by chairman and CEO Ronald T. Barry, the Des Moines, IA-based manufacturer has blossomed into an estimated $75 million in annual sales, and has become the seventh-largest ink manufacturer in the U.S.
As CCI has continued to expand, it became necessary to add further capacity. Mr. Barry decided in 1997 that it was indeed time to create a new facility in Des Moines, and the CCI organization worked diligently to create a state-of-the-art manufacturing plant and headquarters. The result: a brand new 100,000 square foot, $18 million facility that will set standards for efficiency, environmental controls and reducing waste. “This is what we like to describe as a bold move,” said Mr. Barry.