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Fort Dearborn Company, the Chicago based label producer, has
sold its UK business, in a confidential management deal, as a
result of a decision to re-focus on its core North America label
market. However, the companies will continue to have a working
strategic relationship.
The UK business has been sold to its former owner, Albert Dass,
who has taken over as chairman, working with the existing management
team. The company has changed its name to Springfield Solutions,
effective immediately.
“
This is an exciting opportunity to build on our traditional strengths
in the UK and Europe. We have had an excellent relationship with
Fort Dearborn Company and respect their decision to re-focus
on the North American market,” stated Albert Dass. “Our
strengths in the UK are in two key areas - repro and graphics
management, plus niche print markets for high quality, lower
volume, self-adhesive labels.”
The Springfield Group was acquired by Fort Dearborn Company
in 1999. At that time it was predominantly a speciality reprographics
operation which managed colour critical print using a proprietary
6-colour process it called HiColour. This was a good fit with
Fort Dearborn’s own repro operation, Virtualcolour, and
opened up the opportunity to provide global services to some
mutual customers. At the time, FDC also recognised the opportunity
to develop the print operation in the UK as a potential first
step in having a more substantial print presence in Europe.
However, changing market and trading conditions, subsequently
led to a change in strategy for FDC to focus on its home market
and strengths; it is one of the United States’ largest
label printers. FDC subsequently sold its US repro business to
Schawk in 2004 and divested itself of overseas operations of
which FDC UK was the last remaining.
Mutually acceptable terms have been agreed in a confidential
deal between the parties. Apart from some minor restructuring
the UK company will build on its traditional strengths. The deal
includes licences for HiColour (a 6-colour hi-fidelity repro
and print process) and software solutions for asset management
and job tracking.
The two organisations will retain a strong working strategic
relationship in order to serve their global customers as appropriate,
especially in the areas of consistent brand management of labels,
packaging and digital solutions. However, the UK operation will
be financially independent and will be able to develop its own
strategy more suited to its current strengths in the UK and European
market.
“
We launch Springfield Solutions with a strong balance sheet and
the ability to move forward on a sound financial footing, retaining
the ability to invest as required to support our customers’ developing
needs in the future,” said Albert Dass.
The company’s executive team remains unchanged and will
be working with the new chairman and his advisors to move the
business forward independently of FDC. Key customers have given
their support for the deal and will continue to work with FDC
and Springfield respectively in the future.
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