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HP T400 in town at McPherson’s

Tuesday, 20 December 2011
By Print 21 Online Article

McPherson’s Printing Group will be installing its first HP T400 colour inkjet web press within the next month, whether or not the proposed demerger from its parent company goes ahead.

The HP press (pictured), which was launched in the US in March this year, has already touched down on Australian soil and will be installed over several weeks, according to McPherson’s Printing CEO, Alan Fahy. It is expected the machine will be installed at the company’s Maryborough site in Victoria.

“The machine’s installation will be happening over the next few weeks,” said Fahy. “It’s already in the country, but it will take several weeks to install.”

The news comes as McPherson’s Limited shareholders received their prospectus and notice of meeting for the proposed demerger and public listing of its printing business in the mail.

The prospectus, sent on 16 December, included an independent report by valuation firm, Lonergan & Associates, suggesting that the demerger would allow the printing business and the parent company to be strengthened within their respective industries.

The report said that, “the proposed demerger will allow both distinct businesses to be rated against their direct peers…it appears that there is scope for the Consumer Products business of MCP to be re-rated over time following implementation of the proposed demerger.”

The prospectus was sent out to investors only days after the company announced plans to acquire OPUS Group, in a move that would effectively be a reverse takeover, allowing the privately-owned business services and communication group to float a listing on the ASX in partnership with McPherson’s Printing Group.

In a document released last week, McPherson said that the demerger of MPG from its parent company is to go ahead whether or not investors vote in favour of the OPUS acquisition – which will be voted on in March.

Additionally, it has been announced that McPherson’s former chairman has been appointed as the new chairman of the company’s printing business.

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