HP Inc. has expanded its labels and packaging portfolio with what the company says are solutions to drive printing and converting toward more flexible, productive and profitable digital printing ot any application. Among its new solutions are the HP Indigo 6900 digital press for labels and packaging and HP PageWide C500 press for mainstream corrugated production. "The expansion follows the largest packaging deal ever for HP Indigo with ePac. Our customers are growing last across all segments and are experiencing massive success. They are leveraging HP technology to innovate and deliver on brands' evolving needs," comments Sand Morera, global head ot graphics solutions business, HP Inc."These new technologies are needed now more than ever and will allow our customers to be more productive."
The new HP Indigo 6900 digital press offers the label market higher revenue per meter, and includes Pack Ready for Labels tor the production ot high-resistance labels tor food, household, chemical and pharma labels. (Four beta sites are producing commercial jobs.) Also, new HP Indigo Electrolnk Silver is now commercially available and delivers metallic effects across a wide color gamut, similar to Pantone 877. HP Indigo Electrolnk Invisible Blue and Yellow are visible under UV light for brand protection and promotional labels. Additionally, the 6900 integrates with the HP Indigo GEM embellishment unit, the company's first fully digital, one-pass label printing and embellishment solution for spot, tactile, foil, holograms, mini textures and lamination.
The high-performance HP Production Pro tor Indigo Labels and Packaging is now included in the HP Indigo 6900 and rolling out this year to HP Indigo's entire labels and packaging portfolio. Featuring five times faster RIP power and the Esko Color Engine, the powerful digital front end provides extensive productivity and scalability for continuous digital production, which allows converters to scale and manage their digital production across multiple presses and multiple sites, increase the number of jobs per day while shortening delivery cycles.
For the HP Indigo 20000 flexible packaging press, HP has announced that its HP Indigo Pack Ready Laminator is now commercially available. Touted as a pioneering technology, Pack Ready Lamination allows for immediate time-to-market ot HP Indigo digitally printed flexible packaging by eliminating the use of adhesives.The Pack Ready Laminator is manufactured and supplied by Karlville. For news on the world's first HP Indigo 6900 purchase, turn to page 56.
PLATINUM EQUITY ACQUIRES WS PACKAGING GROUP
* WS Packaging Group has announced that Platinum Equity has acquired the company from J. W. Childs Associates, L.P.
Headquartered in Green Hay, WI, USA, WS Packaging Group provides labels and packaging solutions tor the food and beverage, consumer packaged goods and pharmaceutical markets.
The company, which primarily markets pressure sensitive labeling products, also provides packaging, shopper promotion and branding solutions that help its customers increase shelf impact, brand consistency and shopper engagement for the products they sell to end consumers.
Platinum Equity principal Jason Price says he is excited about WS Packaging Group's prospects as part of Platinum Equity's portfolio. "WS Packaging Group has great potential, and we look forward to working closely with the company's management team, customers, suppliers, and other stakeholders," he says."We believe it will benefit from our operational resources and our ability to help identify and pursue new avenues for growth."
Platinum Equity has considerable experience in the packaging sector and recently owned Mactac, one of WS Packaging Group's suppliers of pressure sensitive materials.
J.W. Childs Associates partner David Fiorentino comments, "We have enjoyed our close partnership with WS Packaging Group. The company has made meaningful investments in new technology, has dedicated employees and deep customer relationships. We wish Platinum, the WS Packaging Group management team and all WS Packaging Group employees well with the business."
WS Packaging Group CEO Dean Wimer is remaining with the company to lead the business. "We thank the team at J.W Childs Associates for the guidance and support of the business under its ownership. We're excited to work with Platinum Equity, who brings a fresh perspective, with new energy and focus to the table," says Wimer. "They know our industry well and have the operational and financial resources we need to help maximize our company's potential."
Latham & Watkins acted as legal counsel to Platinum Equity on the acquisition of WS Packaging Croup. McDermott Will & Emery served as legal counsel and Barclays as financial advisor to WS Packaging Group.
CHAPTER 11 PLAN OF REORGANIZATION
* Cenveo, Inc. has announced that it has reached an agreement with holders of a majority of its first lien debt to support a Chapter 11 plan of reorganization, which will significantly its financial flexibility by reducing its debt and obtaining new financing.
To facilitate the financial restructuring, Cenveo and its domestic subsidiaries have filed voluntary petitions for reorganization under Chapter 11 of the US Bankruptcy Code in the Southern District of New York, White Plains. The Chapter I 1 filing does not include foreign entities, such as those located in India.
Headquartered in Stamford, CT, USA, Cenveo operates more than two dozen independent entities in over 100 facilities across the US, as well as manufacturing locations in Asia, South America and Central America. Among its facilties are Denver, CO-based Lightning Labels, and Discount Labels in New Albany, IN. In addition, Cenveo has label manufacturing facilties in California, Florida, Missouri and Tennessee.
In conjunction with the filing, Cenveo has entered into a Restructuring Support Agreement (RSA) with noteholders representing more than 50% of its first lien debt. The RSA demonstrates the strong support of the company's creditors for the financial restructuring and their confidence in management and the future of Cenveo, and provides a clear path to emergence on an expedited basis.
The company has also negotiated agreements with some of its existing lenders to provide Cenveo up to $290 million of debtor-in-possession financing (DIP), which includes $190 million of ABL financing and $100 million of term loan financing. In total, the debtor-in-possession financing will allow Cenveo to access up to $100 million in incremental liquidity during the Chapter 11 case.This incremental liquidity will ensure that suppliers and other business partners will be paid m a timely manner for goods and services provided during the Chapter 1 1 process, in accordance with customary terms.
"The plan we are pursuing today will significantly reduce our debt and improve our capital structure to support our longterm business strategy," comments Robert Burton Sr., Cenveo's chairman and chief executive officer. He continues, "Since 2005, we have transformed Cenveo from its print-focused roots into the largest envelope manufacturer and one of the largest label manufacturers in North America.
"This court-supervised restructuring process will protect our business operations, as we will continue to operate in the ordinary course. We are pleased that our plan has the backing of a number of our key financial stakeholders, and we are confident that Cenveo will emerge from this process with a stronger balance sheet to support its profitable growth in the years ahead."
WEBER PACKAGING NOW ISO 9001:2015 CERTIFIED
* Weber Packaging Solutions, a manufacturer ot custom labels based in Arlington Heights, IL, USA, has announced it is now ISO 9001:2015 certified.
ISO 9001 is an international standard that defines requirements for establishing a Quality Management System (QMS) in any organization. Weber has been certified for the last 19 year (since 1998).
Changes to ISO 9001:2015 include the introduction ot new terminologies for restructuring some of the information, emphasis on risk-based thinking to enhance the process approach, increased leadership requirements and improved applicability for services.
Achieving ISO 9001:2015 certification is a benchmark for measuring the maturity of the organization's QMS. Employees at Weber have been working diligently to put procedures in place to meet the strict requirements of ISO 9001. Emphasis was placed on consistency in manufacturing processes so that Weber reliably prints labels with the same high-quality standards every time.
ISO 9001:2015 helps companies demonstrate to customers that they can offer products and services of consistently good quality. It is less prescriptive than its predecessor, focusing instead on performance. The change is achieved by combining the process approach with risk-based thinking and employing the "Plan-Do-Check-Act" cycle at all levels in the organization.
Derek Podejko, Weber's quality assurance manager, states,"It's important because it continues to provide trust between Weber and our customers.The certification provides evidence that Weber is committed to meeting customer requirements, which can be accomplished with our quality management system. By identifying and defining our processes to meet ISO 9001:2015 standards, it allows us to stay consistent within our operations. The commitment from upper management allowed us to be certified to the new ISO 9001:2015 quickly and in a professional manner.
"Since today's organizations have several management standards in place, the 2015 version is designed to easily integrate with other management systems. The new version also provides a solid base for sector-quality standards in industries such as automotive, aerospace and medical," Podejko says.
DION LABEL PRINTING BECOMES GMI CERTIFIED FOR CVS BRANDS
* Dion Label Printing has announced that it has received full certification from Graphic...