Paragon Printing picked up by Print Media Group

Iconic Wodonga business becomes part of Print Media Group.

The troubled forms printer, which entered voluntary administration in March, has been living in hope of finding a buyer ever since its surprise fall. Privately owned Australian organisation, Print Media Group, which specialises in manufacturing and print solutions delivery, has stepped up after weeks of speculation as to whether or not any business would take on the challenge of buying the company.

As part of the deal, Argus Solutions Limited, (which last year bought Moore Business Solutions, of which Paragon Printing was once a part of) has formed a strategic alliance with Print Media Group. The major terms and conditions of this relationship have been agreed in principle. The parties expect to
formally document this alliance within the next month.

"The ASV-PMG alliance provides us with substantial opportunities for earnings growth by broadening the services and customer base of complementary businesses which derive substantial revenues," said David Glavonjic, (pictured), CEO of Argus Solutions.

A statement from Print Media Group said that: “This has been a very complicated process given all the circumstances surrounding Paragon’s legal status. We have been working closely with the AMWU, administrators Hall Chadwick, and Moore Australasia to find a solution. All parties have greatly assisted us in this endeavour.”

As part of the purchase, Paragon Printing is set to change names to South Pacific Print Group.

According to the Print Media Group, much still hangs in the balance for Paragon Printing. “The operation’s success will depend on the amount of support given by Paragon’s customer base.  Our ability to re-employ and grow the number of staff will be dependent upon the level of support received from existing Government and Corporate customers that utilise the products manufactured by Paragon.”

was a key driver in the decision.Lisa Stark, general manager sales and marketing, Ducor and spokesperson for Print Media Group, said that aligning the company with Paragon Printing “There is a lot of product exclusively manufactured at that [Wodonga] plant in Australia,” she said. “If we lost that capability, the only alternative would have been offshore.”

She added that the strategic partnership with Argus Solutions would strengthen the future and evolution of South Pacific Print Group. “Argus have made a commitment to channel a certain amount of work through the facility, which will help us as we look for various business streams over time,” Stark said.

Moore Office Products, which also entered VA with Paragon Printing, was this month sold to Penfold by Office Choice.