American Buys CST/Star Assets
American Tissue, Happauge, N.Y., has purchased the assets of CST/Star Products, Wheeling, Ill., which recently closed. The purchase includes all of CST/ Star's eight plants, presses and other equipment, accounts receivable and all brands, trademarks and copyrights.
The new company, operating under the name American Forms, is led by President and CEO Alan Vosper. American has opened three of the purchased plantsWheeling, Ill.; Plano, Texas; and Leola, Pa.employing about 100 people. Approximately 85 of those employees formerly worked for CST/Star. No senior management has been retained.
In addition to the three plants, American Forms has distribution agreements at several centers located throughout the U.S.
The company is retaining Star Brand products, including computer paper, EB 20 and EW 20 recycled paper, custom laser cut sheets, DP bond and laser paper, thermal fax paper and wide-format media.
The company, which officially opened June 12th, will focus on sales through distributors and paper merchants, said Vosper.
For more information, call 847-459-7600.
Wallace Reports $16.7M Loss
A restructuring charge of $38.9 million in the third quarter has resulted in a reported loss of $16.7 million on revenue of $388.7 million for Wallace Computer Services, Lisle, Ill.
This compares with net income of $20.6 million on revenue of $384.7 million a year ago. For the nine month period, the company reported net income of $12.2 million on revenue of $1.2 billion, compared to net income of $56.6 million on revenue of $1.1 billion last year.
Color-Enhanced Laser, Ink-Jet and Copier Labels
Labelblank, University Park, Ill., released a new, 12-page brochure featuring colored electronic imaging labels, with actual face-stock samples affixed to the front.
Color choices for the labels include five fluorescent hues (chartreuse, green, orange, pink and red), six brilliant colors (blue, lemon, lime, melon, orange and pink) and six pastel shades (blue, buff, gray, green, pink and yellow).