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Wellcom buys Digital House to cap off 1st year as a listed company

Thursday, 07 September 2006
By Print21

In Wellcom’s inaugural report to the Australian Stock Exchange, Sidwell announced the acquisition of the Melbourne prepress company, Digital House, describing it as “a synergistic acquisition.” He identified computer to plate (CTP) production as “a significant market prospect ” and the target company as “a significant operation and a fine acquisition to the Wellcom fold. We took this opportunity to gain a leadership position the premium computer to plate market.”

In its first year trading as a publicly listed entity, the iconic company turned over $33.96 million to post an EBIT of $7.35. It reported a number of new account acquisitions–Dick Smith Electronics, API, Pac Brands and Transurban–while retaining its key accounts–Woolworths, Harris Scarfe, David Jones and Toys “R” Us.

In an upbeat report Sidwell also described short run digital printing and customised data addressed marketing collateral as “the hottest growth corridor in the print market.” To get into the DM market the company has purchased the latest HP Indigo 5000 digital press for installation at its new headquarters at Lorimer Street, Port Melbourne.

In other highpoints Sidwell nominated the completion of the company’s Knowledgewell, which he described as “our proprietary master plan.” Six years in the making he claims the software “leads not only the graphic arts industry but most aligned industries in terms of functionality and usability.

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