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The administrator of stricken print giant Ovato has received a number of expressions of interest for the business, with serious bidders now going through the company's books.
The Ovato administrators held the first creditors meeting yesterday, and said they will be continuing to trade the business as a going concern, while they run a sale and recapitalisation process.
Melbourne-based boutique printed wallpaper and signage business, Grafico Group, has taken the top award in the 2022 Lord Mayor’s Small Business Awards.
Major print materials and machinery supplier Spicers is instigating its journey to carbon neutrality, partnering with not-for-profit environmental organisation Greenfleet.
Textile printing is set to boom, with a major digital equipment developer breaking ground on its 20,000sqm campus in Italy as it gears up for growth. It has 400 solar panels supplying most of the energy.
Today is the day would-be bidders for all or part of the fallen Ovato business have to have their expressions of interest in with the administrator. Binding offers are due in two weeks.
Major Melbourne print operation is re-equipping with a new five-over-five B1 press as it ramps up its investment in new technology. The new XL-106 will arrive in March and join the company's six-colour.
Marketing guru Malcolm Auld has released his new book Direct Mail, The Real Digital Disruptor, which he says will show the younger marketing professionals the unrivalled benefits of printed DM.
The Ovato administrator is wasting no time in seeking a sale for the stricken print giant, calling for expressions of interest to be submitted by this Friday, and for binding offers to be in two weeks later. Several potential buyers are in the frame.
While still a shock for the local print industry, Ovato going into administration can’t be too much of a surprise, given its travails over recent years. Since the PMP IPMG merger the company has racked up some $430m in losses.
The fall of Ovato into voluntary administration has been caused by rapidly changing market demands, and in particular the supercharged rise of the smartphone as a primary communication channel.
Print21 assesses what the next steps are for the stricken business, what that will involve, who is linked to who, and who may be looking to buy the one time giant of ANZ print.
Heatset giant Ovato is in voluntary administration. Ovato has been in stormy waters for the past five years, its many recent attempts to stabilise the ship ultimately proving unsuccessful, as it finally hit the rocks.
Jill Cowling has been made group chief executive officer of New Zealand’s Blue Star Group – encompassing both the Blue Star and Webstar operations – the biggest print business in the country.
Japanese press manufacturer Komori returned to profit in its last financial year ending April, with orders up by a third, sales up by a fifth, and all figures showing improvement over the previous year.