Posts Tagged ‘Picton Press’

  • Jamieson resigns from PIAA board

    PIAA CEO Andrew Macaulay (left) meeting in 2016 with Graham Jamieson, GM, Picton Press, in Perth.

    Picton Press general manager Graham Jamieson has resigned as a director of the Printing Industries Association of Australia weeks after Picton called in external administrators and revealed it was $9 million in debt.

    ‘An opportunity I am eager to become involved in’: New PIAA board member for WA, Anthony Pittaway.

    Jamieson’s replacement as the Western Australian representative on the PIAA board has been named as Anthony Pittaway, the manager of WA digital printer Discus on Demand.

    Jamieson congratulated Pittaway on his appointment. “The opportunity to be a board member at PIAA has been a real pleasure and a privilege and I value all the relationships that have been made, both people and companies alike. The association is in good hands and I wish to congratulate Anthony on his appointment to the board.

    The PIAA has taken steps to ensure there has been orderly handover in governance, according to a statement.

    “Printing Industries thanks Graham Jamieson for the outstanding contributions he has made over more than a decade,” said Walter Kuhn, president of Printing Industries. “We are grateful for all Graham has contributed within the visual communication sector. Graham has been an essential member of our association and Printing Industriesowes a great deal to his valuable leadership.

    “As poignant as it is, to farewell Graham who has made such a lasting impact on the industry, it is exciting to welcome new skills and fresh vision.  Printing Industries welcomes Anthony Pittaway as he joins the Board as the WA representative. We have every confidence that Anthony will assist us in setting, achieving, and furthering our industry’s goals and vision.”

    Pittaway has been involved in the printing industry for almost 30 years, most recently as manager at Discus Demand in Perth, and looks forward to joining the board. He has been an enthusiastic member of the WA PICA committee and convenor of LIA WA.

    “This is an opportunity I am eager to become involved in, and I look forward to contributing to the direction and focus of our peak industry association,” he said.

    The renewal in governance is indicative of the refreshed involvement avenues that are open to members of the association, said CEO Andrew Macaulay. “We have sought nominations for the Member Consultative Committees. National member feedback has seen this structure established to enable more constant feedback to your Board via the State Director. These Committees are being established in each State and this member leadership initiative provides a further succession planning opportunity for the emerging generation within Printing Industries and will allow its members for more regular and individualised communications.”

    Lodge your expression of interest before the close of business Friday 22nd June to, subject heading “nomination for Member Constitutional Committee.”

  • Picton Press owes $9 million

    A KBA Rapida 10-Colour press at Picton Press in Perth.

    WA printer Picton Press was $9 million in debt when it called in external administrators last month after the ATO began court action to recover an outstanding tax bill of $1.3 million.

     Administrator Jeremy Nipps from insolvency firm Cor Cordis compiled a complete list of secured and unsecured creditors for the first creditors’ meeting held in Perth last Friday. The total debt figure includes more than $2 million in unsecured creditors and about $7 million in secured creditor debt. About $700,000 is owed to trade creditors.

    Picton Press remains open for business as Cor Cordis begins the process of looking for a potential buyer. The existing owners are also said to be “very keen” to hold onto the business.

    “We’re seeking Expressions of Interest (EOI) from parties who are interested in buying or restructuring the existing business,” says Nipps. “We’re advertising in the West Australian and national newspapers and we’ve had more than a dozen parties who’ve expressed interest so far, some of them are local, some national and some from abroad.

    An ad in today’s Australian Financial Review says: the administrators are seeking urgent expressions of interest for the recapitalisation and/or outright purchase of the company’s business and/or assets, either individually or collectively. Assets for sale include customer contracts, IP, plant, equipment and motor vehicles.

    Today’s notice in The Australian Financial Review.

    “We’re running through the process now hoping to extract an outcome that will provide a better return to creditors, whether it’s through a sale or a restructuring,” says Nipps.

    The EOI period ends on Friday 8 June and interested parties then have a couple of weeks to make ‘indicative offers,” which will be assessed by the administrators.

    Picton Press has grown from a three-man operation in 1988 to become one of Perth’s largest print companies, employing about 30 people, including directors Dennis Hague and Gary Kennedy. General manager Graham Jamieson is also a director on the board at the Printing Industries Association of Australia.