National Envelope secured more than $65 million in DIP (Debtor In Possession) financing and saw a strong outpouring of support from business partners after filing for Chapter 11 bankruptcy protection last Monday and obtaining court approval of first day motions on Tuesday.
Printer News
Henry Diehm, 65, appeared before Rensselaer County Judge Debra Young and pleaded guilty to third-degree grand larceny. Diehm handled the books for Curtis Printing on Columbia Turnpike (East Greenbush, NY) for 15 years until he was arrested in April 2012.
If he pays full restitution to business owner Richard Lieberman by the Aug. 19 sentencing date, Diehm will receive five years' probation. If not, he faces a six-month jail term and five years' probation, District Attorney Richard McNally said.
Trade printer Zoo Printing, Commerce, Calif., officially opened its newest full production facility—50,000 square feet in West Deptford, N.J., on June 3. The facility is now producing four-color offset, four-color digital, large format and one- and two-color products.
National Envelope filed for Chapter 11 bankruptcy protection Monday, its second such filing in three years.
NE Opco Inc., which does business as National Envelope, blamed its return to bankruptcy on a continued decline in sales as more people choose email over snail mail.
The company, which makes about 37 billion envelopes a year, said it will consider filing a plan of reorganization or selling its assets to the highest bidder at a bankruptcy court-overseen auction.
A fire that engulfed stacks of recycled paper at a King William County paper company in Virginia, is under investigation.
West Point firefighters put the blaze at the RockTenn Co. facility out in about two hours on Thursday. Officials received a call around 3 p.m. that a couple of 12-foot stacks of paper were on fire.
Foster City, California-based Electronics For Imaging, a world leader in customer-focused digital printing innovation, has acquired privately held GamSys Software.
The new owner of Dellas Graphics has eliminated 20 of 31 jobs at the Syracuse, New York-based printing company and moved much of its operations to Rochester, N.Y.
Dellas Graphics employed 31 people at its printing plant at 835 Canal St. in Syracuse when the firm was acquired by Rochester-based Canfield & Tack Commercial Printing and Fulfillment on Nov. 12. Since then, about 16 employees have been laid off and four other jobs have been eliminated through attrition, said Canfield Chairman Ray Brown.
Canfield & Tack will keep about 11 employees in Syracuse as part of a reduced operation here, Brown said.
Jim Eaton, CEO, and Pat Rhoades, president of Allegra Marketing, Print, Mail, together with Mitch Eaton, Lance Eaton and Jeannette Heuer of The Printing Station have announced a merger between the two companies.
Temple Inland, which caused a major fish kill on the Pearl River in 2011 when it released pollutants from its Bogalusa paper mill (in Louisiana), was ordered to pay $3.3 million in criminal penalties, according to U.S. Attorney Dana Boente.
U.S. District Judge Ivan R. Lemelle also sentenced the Austin, Texas-based company, a subsidiary of International Paper, to two years probation.
Temple Inland’s fines will be used in part to help the Louisiana Department of Environmental Quality pay for equipment and emergency vehicles used to monitor, test and respond to dumping, sills and leaks that violate environmental laws.
Kansas City, Missouri-based DataSource Inc., a leading provider of managed services, announced the addition of Robert J. Cronin to its board of directors.