Pronto Print puts its presses up for sale

Government decision to slash printing spend in favour of online publishing tips the scale for Bernard Nolan.

The long-established Wellington NZ printer is closing its doors and selling off the plant. The decision of the NZ government to scale back printing in favour of online publishing cut over $200,000 per month from Pronto’s revenue.

“There comes a point in time when you cannot keep going. I had to make a decision,” said Nolan (pictured).

He has put his offset equipment up for sale and trusts he can transfer the 50 Pronto staff and selected digital assets to another Wellington printer, Excel Digital, where Steve Matthews is going through a process of due diligence with a view to buying the business.

Pronto Print is the latest in a string of Wellington print companies to fail as the continuing hard times force more closures. At least two other print companies, including Freestyle, are reported to have closed in the past week through voluntary redundancies and takeovers.

According to Steve Matthews, the situation in Wellington is tough and likely to become tougher. As a fully digital business he believes he is better placed to survive the difficult market than most.

“We began as a copy shop and made the decision to concentrate of digital. We never had to get out of offset,” he said. “But people who haven’t moved with the times are really starting to hurt.”

If the takeover goes through it will make Excel Digital perhaps the largest cutsheet digital printer in New Zealand.

The comprehensive PDF tender document for the Pronto’s equipment gives an indication as to how values for offset printing kit have fallen in a market awash with surplus machinery. Most of the presses and finishing equipment are less than ten years old with an asking price of $1.6 million for the lot. They are listed with original purchasing prices that total $4.5 million. That’s a mark down of 75%.

Industry observers expect the kit to be sold offshore.