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Confident GEON gains contracts in improving market

Tuesday, 15 December 2009
By Print 21 Online Article

Financial backers step up for the region’s largest sheetfed printer following major restructure and integration.

Graham Morgan, CEO of GEON Group said there were “encouraging signs that the business environment is improving and we are cautiously optimistic about the prospects for calendar year 2010, supported by a number of significant new contracts.”

He said the Group had secured strong refinancing and completed its restructuring and integration phase, positioning the company for a return to more stable business conditions and a period of sustained growth over the next 12-18 months.

It comes after a tumultuous few years for the private-equity backed company when it grew at an astonishing pace through the takeover and subsequent consolidation of a significant number of printing companies. Gresham PE as major backer has sustained a capital intensive process to create the trans-Tasman enterprise, including major capital equipment investment in state of the art printing plants.

The refinancing of GEON should send a strong message that the industry, as well as the Group, is still deserving of sustained investment.
“GEON’s banking arrangements have been restructured to ensure the business has appropriate reserves to fund future investment in programmes,” said Morgan. “This investment will drive further advances in customer service over the longer term, allowing GEON to fulfil its potential of delivering world class, fully integrated, print and communication solutions for our clients.”

GEON now has annual turnover of around A$300 million and employs more than 1250 people at 25 locations throughout Australia and New Zealand. It positions itself as a leading business in the market with a full suite of integrated print and communication solutions including creative design, data management, direct marketing, digital media, online solutions, print, mail and warehousing and fulfilment.

“We have revolutionised the way we interact with customers through the development and implementation of GEONline, our proprietary on-line print management system,” said Morgan.

“GEON will continue to work closely with the print and communications community, our strategic partners within it, and its various associations, to ensure we have a successful and thriving industry, creating growth and employment for many years to come.”

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