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***Ascent Partners: Market Watch 2***

Tuesday, 02 August 2011
By Print21

The second edition of Ascent Partners Market Watch is now available on a free subscription basis, covering all market movements within the industry. Starting with the voluntary liquidation of Australian Envelopes and the subsequent asset acquisition by Australian Paper. What a month it was.

The other major stories were the closure of the Geon’s Dee Why manufacturing plant, to be consolidated into their Banksmeadow site, and Blue Star, asking their bondholders for major financial concessions.

On the Blue Star story, as quoted by Print 21, “In effect the holders of $105 million bonds are being asked to sacrifice $32.3 million by converting 36% of their existing investment into participating bonds that attract no interest or have any repayment date.”

They vote on the proposal on August 10th. Rejection of the offer would likely result in complete loss of their principal and the possibility of Blue Star’s banks appointing a receiver.

Other major news included Scribo, part of PMP’s book distribution business, closing its operations. It was not all doom and gloom though, with APN creating 25 new jobs in sheet-fed printing, and the PMA Solutions / Trio Group merger.

On the installation front, there were numerous sales reported from PrintEx, mainly wide format printers, and digital colour machines. Others that caught my eye was the 30 cutters reported being invoiced by Heidelberg in the past six months, two additional Indigo installations and the only traditional offset press, a Heidelberg SM 74-8-P installed at CJ King.

There is obviously still a lot of machinery being sold and installed, but what’s changed is the type of machinery – mainly digital (wide format and presses) and bindery equipment.

Our Market Watch email bulletin provides the complete list of these and other “market movements,” major machinery sales and installations, duly referenced as reported in the trade press, and the present ten print related businesses we have on the market around Australia. You can subscribe via our web site, www.ascentpartners.com.au. Subscription is FREE.

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