FLINT INK DENIES AUCTION TALK

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FLINT INK DENIES AUCTION TALK

 user 2005-05-17 at 10:29:00 am Views: 65
  • #9386
    Flint Ink denies auction talk  

    Ann Arbor-based Flint Ink Corp. on Friday denied a
    published report that it is on the auction block. The state’s ninth-largest
    privately held company said it has always explored and will continue to explore
    opportunities for consolidation in the ink industry.

    “We’re looking for opportunities where there are complementary benefits —
    either geographic or product compatibilities — that will allow us to maintain
    profitability in spite of rising costs and other challenges facing the ink and
    printing industries,” Flint Ink Vice Chairman and CEO Dave Frescoln said in a
    statement.

    Flint Ink reported sales of more than $1.47 billion in 2004, up from $1.45
    billion in 2003. Flint Ink provides a variety of inks to printers around the
    world. Detroit Newspapers, which prints the Detroit Free
    Press and the Detroit News, is one of its customers.

    Citing information from four undisclosed sources, the Daily Deal reported on
    Thursday that Flint Ink was hoping to draw $1 billion on the auction
    block