By: E&P Staff
Flint Group has been chosen as the name for the holding company created by the merger late last year of Xsys Print Solutions and Flint Ink Corp., Ann Arbor. Mich. Headquartered in Luxembourg, the new company is jointly owned by its management and CVC funds.
Flint Group’s core ink business supplies products and services to the flexographic, sheetfed, heatset, and coldset web offset, gravure, energy curable, and specialty printing markets. It’s regional units serve Europe, North America, Latin America, Asia, and the India/Pacific region.
Xsys Print Solutions provides inks to printers in the narrow-web tag and label industry worldwide.
Other business include: Flint Group Printing Plates’ flexo and letterpress photopolymer plates, solvents, and equipment for plate processing; Jetrion LLC digital inks, equipment, and integration services for on-demand and variable-data printing; Flint Group Pigments & Resins, with operations in North America, Europe, and China that offer dry and flushed pigments, pigment dispersions, resins, chemical additives, colored chips, and varnishes.
CEO Dave Frescoln said that as one of the industry’s largest suppliers, the new company “can produce efficiencies not available to smaller competitors.” He added that the company “will pursue a dual strategy of consolidation and decentralization. Plant consolidations will focus manufacturing activities on single product lines,” with the aim of reducing manufacturing costs and improving quality and consistency.
With 2005 revenues estimated at $2.7 billion, Flint Group operates more than 150 facilities worldwide and has a global network of distributors. Approximately a quarter of its of its nearly 8,000 employees are technical staffers.