PrintCAN News RSS PrintCAN RSS en-us Fri, 14 Aug 2020 19:35:11 UTC Fri, 14 Aug 2020 15:34:41 EST Renaissance Printing Goes Bankrupt Wed, 12 Aug 2020 20:43:08 EST   Formally Web Offset Publications and Ironstone Media Renaissance Printing went into bankruptcy at the end of July. The web magazine and catalogue printer  has closed it's doors for good. . The company had a full heat set web and a 40' six colour sheet fed. They also had  bought a perfect binder, polybagging  and mailing equipment. Estimated sales of between $16 and $18 million with a staff of 83. The company has had sorted history . Domtar Closing More Paper Mills Wed, 12 Aug 2020 19:50:55 EST Port Huron Mill manufactured uncoated freesheet papers  Domtar Paper has announced that they plan to permanently close the 100 year old paper Port Huron mill. The mills has capacity of 95,000 short tons and produces  variety of  uncoated  free sheets of technical and specialty papers.  Port Huron’s mill as well three other Domtar facilities in the US are expected to close in the first quarter of 2021, affecting 780 employees in total. Heidelberg Paying Off Debt Wed, 12 Aug 2020 19:14:32 EST Rainer Hundsdorfer CEO of Heidelberg Heidelberg  plans to pay back the remaining $177 million US on the bonds, which has a interest rate of 8% .The bonds were originally due to mature in 2022. Heidelberg is able to make the payback from its cash reserves from the the $354 million US  reserve transferred out of its pension scheme earlier this year, and the sale of Gallus last month. Xerox Hacked Data Leaked By Maze Ransomware Wed, 12 Aug 2020 18:43:45 EST   Maze ransomware operators published internal data from  Xerox after the company did not pay the ransom.  Maze ransomware operators have published tens of 25.8 GB  internal data allegedly stolen from  Xerox following failed extortion attempts. Xerox did not disclose the cyberattack, but early June the Maze ransomware operators published some screenshots that showed that a Xerox domain has been encrypted. Xerox Takes On More Debt At Higher Rates Wed, 12 Aug 2020 18:06:29 EST   Xerox is talking on an additiopnal debt of $162 million at higher rates . Xerox  is  offering of $550 million amount of 5.000% senior notes due 2025 and $550 million amount of 5.500% senior notes due 2028. Trade Secrets Becomes Toronto Print Solutions Wed, 5 Aug 2020 20:30:21 EST The new Toronto Print Solutions Trade Secret Web Printing is now Toronto Print Solutions Inc. The company has been operating under the Toronto Print Solutions ( TPS) name for several months. Trade Secrets had filed for creditor protection back November of 2019. The assets of the company were sold  in February . A proposal to creditors was made in late March. The proposal offered creditors  five cents on the dollar after the CRA was paid ( CRA was owed $1.25 million). Ink And Coating Prices To Increase Wed, 5 Aug 2020 16:52:39 EST   On the raise because of Covid-19 demand  INX International Ink Co. has informed customers in North America of a price increase on all solvent inks and coatings, effective September 1.  INX claims despite efforts to absorb costs, the ongoing COVID-19 pandemic has left management no choice. The expense to manufacture solvents, especially alcohols used in the production of critical sanitizers and medical initiatives to fight the virus, has risen sharply this year. Dscoop Announces Hybrid 2021 Event Wed, 5 Aug 2020 16:34:38 EST The largest user group event in the industry The largest community of HP Graphic Arts users in the world will come together May 16 -18, 2021 in person at the America's Center convention center in St. Louis, Missouri, USA. DScoop  in Orlando 2020 was postponed from March 29 due to COVID-19. The rescheduled event, Dscoop Edge Fusion  will be a  blend of in-person and online activities, live and livestreamed, for a global "hybrid" experience. LSC Struggles With 39% Sales Hit Wed, 5 Aug 2020 16:11:21 EST LSC Mississauga Canada location LSC second quarter net sales were $532 million, down $337 million, or 38.8%, from  2019.  Net loss of $63 million, compared to net loss of $25 million in 2019. Second quarter net sales in Magazines, Catalogs and Logistics were $214 million, a decrease of 43.8%, from  2019.  Book were $198 million, a decrease of 31.7% from the second quarter of 2019. Cash balance of $97 million as of June 30, 2020, LSC claims will provide sufficient liquidity to continue to fund ongoing operations  Heidelberg Supports Open & Independent Industry Platform. Wed, 5 Aug 2020 15:46:41 EST Creating an industry standard platform Zaikio's Mission Control is the print shop’s digital control center. All data is received here in a standardized form and can be read, edited, and restored by other apps. The result is straightforward, standardized data exchange between software, hardware, and the partners involved, which creates the basis for end-to-end automated process chains. Zaikio unites all industry players on a single platform using three key elements. PRINT Awards Open To Global Entries Wed, 5 Aug 2020 15:27:44 EST Now open to international entries The PRINT Awards 2020. Formerly known as the Regional Design Awards, the PRINT Awards has a fresh focus on global inclusion, new exclusive categories spotlighting design activism and the latest creative technology .Over the course of its 40-year history, the awards have been judged by design leaders in the U.S. Now, 40 years later, this prestigious awards program is open to the international community.  Kodak Enters The Drug Business Wed, 29 Jul 2020 21:05:47 EST Kodak has been focused on the printing industry since coming out of bankrupt protection  Kodak is moving into pharmaceutical manufacturing with  US government backing. Kodak will  be revamping it's facilities in Rochester and St Paul for the new  Pharmaceuticals operation, which will make ingredients for generic pharmaceuticals,  components  are  critical to the American people and US national security. Fuji Xerox Launch 19 New Products Against Xerox Wed, 29 Jul 2020 20:16:43 EST Xerox's new world competitor Fuji Xerox  Asia Pacific has announced the launch of 19 new models from its digital multifunction/printer ApeosPort and DocuPrint series to compete with Xerox . “Fuji Xerox is now strongly positioned to conduct businesses dynamically and with more liberty in a truly global manner,” said Kouichi Tamai, president  of Fuji Xerox. Printing Paper Shipments Down By 25% Wed, 29 Jul 2020 18:53:50 EST Paper machines not running near capacity The American Forest & Paper Association  has released its June 2020 Printing-Writing  report. Writing paper shipments decreased 25% in June compared to 2019.  Purchases of total printing-writing papers decreased 25% in June compared to the same month last year. Xerox Sales Down By 35% Wed, 29 Jul 2020 18:25:28 EST John Visentin , CEO of Xerox Covid-19 has hit Xerox wirh second-quarter sales at Xerox fell by nearly $800m. Sales in the three months to 30 June were down 35.3% at $1.47 billion of revenue, a decrease of 35.3 percent year-over-year.   Operating profits slumped by nearly 78% to $62m. Gross margin held up, slipping from 39.1% to 38.5%.