Phoenix Color Completing its $20 Million Capital Investment Program with the Purchase of Two New Presses

Rhea-AI Summary

Phoenix Color Corp., a subsidiary of ALJ Regional Holdings (Nasdaq:ALJJ), has announced the acquisition of two new printing presses to enhance its manufacturing capabilities in Hagerstown, MD, and Terre Haute, IN. This purchase is part of a larger $20 million capital investment initiative started in 2019, aimed at modernizing its production facilities. To date, five presses will be installed, bolstering Phoenix's position in the printing industry. The CEO expressed optimism about continued sales momentum into 2021 following a strong second half of 2020.

Positive

• Acquisition of two new presses enhances production capabilities.
• Part of a $20 million capital investment program initiated in 2019.
• Continued strong sales momentum reported by the CEO.

Negative

• None.

HAGERSTOWN, Md., Feb. 17, 2021 /PRNewswire/ -- Phoenix Color Corp. ("Phoenix"), a wholly owned subsidiary of ALJ Regional Holdings, Inc. (Nasdaq:ALJJ), announced today the purchase of two additional presses to be installed in its Hagerstown, MD and Terre Haute, IN facilities.  The new Heidelberg XL 106-8-P+L to be installed in Hagerstown and the new Komori GL-540 press to be installed in Terre Haute will be delivered this May, completing the five-press installation plan Phoenix launched in 2019 as part of its $20 million capital investment program.  These press additions continue to be supported by other capital investments by Phoenix in prepress, platemaking, lamination and foil stamping and embossing.

Marc Reisch, Chairman and Chief Executive Officer of Phoenix Color commented, "2020 was certainly a very challenging year for all businesses, but with the great support of our customers and terrific execution by our employees, Phoenix achieved strong sales momentum during the second half of 2020, which has continued into 2021.  For over forty years, Phoenix has been a market leader in building and maintaining its state-of-the-art manufacturing facilities, and our company continues to be very well prepared to support our customers' business needs in 2021 and beyond."

About Phoenix Color

Phoenix Color is a premier, full-service printer with over forty years of superior print experience. Drawing on a broad spectrum of materials and decorative technologies, Phoenix Color produces memorable, value-added components, heavily-illustrated books, cut and stack labels, folding cartons and specialty commercial products. As a domestic manufacturer, we offer extensive, in-house digital prepress capabilities and our technologically advanced UV printing platform supports an array of printing and finishing options. Phoenix Color's progressive innovation and commitment to quality will give your product the optimum, eye-catching edge required in today's competitive marketplace.

About ALJ Regional Holdings, Inc.

ALJ Regional Holdings, Inc. is the parent company of Faneuil, Inc., a leading provider of call center services, back office operations, staffing services, and toll collection services to commercial and governmental clients across the United States, and Phoenix Color Corp., a leading manufacturer of book components, educational materials, and related products producing value-added components, heavily illustrated books, and specialty commercial products using a broad spectrum of materials and decorative technologies.

Forward - Looking Statements

This news release contains forward-looking statements, including statements regarding our assumptions, projections, expectations, targets, intentions or beliefs about future events or other statements that are not historical facts. Words or phrases such as "anticipates," "may," "will," "should," "believes," "estimates," "expects," "intends," "plans," "predicts," "projects," "showing signs," "targets," "will likely result," "will continue," "enable" or similar expressions are intended to identify forward-looking statements.  These forward-looking statements are based on current assumptions and predictions and are subject to numerous risks and uncertainties.  Actual results or events could differ materially from those set forth or implied by such forward-looking statements and related assumptions due to certain factors, including, without limitation, risks detailed in reports filed by ALJ Regional Holdings, Inc. ("ALJ") with the Securities and Exchange Commission (the "SEC"), including the ALJ Annual Report on Form 10-K for the year ended September 30, 2020, and in ALJ's subsequent filings with the SEC.  We are not obligated, and do not intend, to update any of these forward-looking statements at any time unless an update is required by applicable securities laws.

 

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SOURCE Phoenix Color Corp.; ALJ Regional Holdings, Inc.

FAQ

What is the recent announcement from ALJJ regarding Phoenix Color?

ALJJ announced that Phoenix Color Corp. is acquiring two new printing presses as part of a $20 million investment program.

How many presses has Phoenix Color installed as part of its capital investment program?

Phoenix Color has completed the installation of five new presses as part of its capital investment program.

What facilities will the new presses be installed in?

The new presses will be installed at the Hagerstown, MD, and Terre Haute, IN facilities.

What has been the sales performance of Phoenix Color in recent months?

Phoenix Color reported strong sales momentum during the second half of 2020, which has continued into 2021.

What type of presses is Phoenix Color acquiring?

Phoenix Color is acquiring a Heidelberg XL 106-8-P+L and a Komori GL-540 press.