Building an Alliance
The status of mergers and acquisitions in the printing industry
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"Over the last two years, the printing industry has been hit hard by the recession. Most companies have experienced revenue declines of anywhere from 15 [percent] to 50 percent, and as a result their earnings have been wiped out. In many cases, printing companies have no positive cash flow and are in various degrees of covenant default (if not payment default) on their credit lines. Many have had to restructure their equipment leases as well. Banks were initially slow to pursue their remedies because they were busy licking their own wounds, [they were] dealing with bigger problems and not eager to take any additional write-offs.
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Melissa Busch
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