CBS News on the Importance of Catalogs

Quad/Graphics, Inc. announced that it has completed the ninth amendment to the Company’s April 28, 2014, bank debt agreement to: (1) reduce the aggregate amount of the existing revolving credit facility from $342.5 million to $324.6 million, and extend the maturity of a portion of the revolving credit facility such that $17.7 million under the revolving credit facility will be due on the existing maturity date of November 2, 2026 and $306.9 million under the revolving credit facility will be due on October 17, 2029; (2) extend the maturity of a portion of the existing term loan facility such that $14.5 million of such term loan facility will be due on the Existing Maturity Date and $351.3 million will be due on the Extended Maturity Date; (3) make certain adjustments to pricing, including an increase of .50% to the interest rate margin applicable to the loans maturing on the Extended Maturity Date; and (4) modify certain financial and operational covenants. Tony Staniak, Quad Chief Financial Officer, said: “We are pleased to have completed the amendment and extension of our $690 million bank debt agreement, which extends the maturity to October 2029, due to our strong relationships with a syndicate of premier banks and our disciplined financial management. By the end of 2024, we anticipate we will have reduced our debt by over $670 million, or 65%, from January 1, 2020, and we will continue to focus on debt reduction with our capital allocation. This debt extension provides us with additional financial flexibility to focus on the growth and development of our offerings as a marketing experience company while returning capital to our shareholders.”

Printing technologies mature in a good way when they outgrow their finicky special needs. Offset presses used to bedevil operators with their unstable ink-water balances. The wild card for digital toner presses was controlling the heat of fusing. In the early days of production inkjet printing, the head-scratcher was getting the droplets to behave properly on the surface of the substrate — a difficulty that initially held adoption of the process back. Those obstacles have mostly vanished, and in inkjet’s case, the greatly improved compatibility with paper has moved the technology well into the mainstream of print production. Printers running late-model inkjet devices find that, for the most part, they no longer have to use the specially pre-treated papers to which first-generation inkjet presses were limited. House stocks, including offset grades, work fine, saving printers money and letting them and their customers continue to play by familiar rules of paper specification. Some new inkjet equipment eliminates the need for pre-treated papers with the help of in-line dispensing units that apply conditioning fluids to the substrate before the laydown of the ink.

Today at Dscoop Dallas, HP Inc. announced the winners of the 3rd annual HP Inkspiration Americas Awards, recognizing the most innovative brand experience produced with HP digital printing technology, and Rod Key Marketing Excellence Awards for the companies with the most creative marketing campaigns to promote their businesses. “HP digital printing technology is disrupting print applications across industries, sparking creative ideas for designers and brands and improving efficiencies,” said Dave Prezzano, General Manager, HP Graphics Solutions Business Americas, HP inc. “These award-winning prints are an inspiration to the HP Graphic Arts community. With leading-edge technology from HP Indigo, PSP can capture the growing power of digital print in almost every area of life and work and realize new revenue opportunities.”