By: E&P Staff
Southern Lithoplate Inc., Wake Forest, N.C., and its wholly owned subsidiary Spectratech International Inc., announced the acquisition of Citiplate, Inc.
The acquisition includes the Citiplate business and customer relationships, the Jackson, Tenn., manufacturing facility, and intellectual property. Citiplate makes thermal, violet, and no-process digital lithoplates. Southern Lithoplate will immediately integrate its Viper 830 and Cobra 830 thermal computer-to-plate technologies in the Jackson operation while also moving forward with the Citiplate portfolio.
Southern Lithoplate Chairman and CEO Edward A. “Trip” Casson said in a statement that the combination of the Jackson plant with the headquarters campus and recently announced Litho Center will yield a total annual capacity of “well over 300 million square fee” by this time next year.
Southern Lithoplate specializes in making, distributing and servicing analog and digital lithoplates and associated products for targeted print markets.
Raymond James & Associates Inc. advised Southern Lithoplate on the transaction, which was structured as an asset purchase. Financial terms were not disclosed.