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Industry News, Mergers and Acquisitions, Printers News

LSC Communications to Divest European Printing Business to Walstead Group

Increases strategic focus on North America operations and customer base, provides additional financial flexibility.

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

LSC Communications announced that the company has entered into a definitive agreement to sell LSC’s European printing business to Walstead Group, one of the leading web offset commercial printers in Europe.
 
LSC’s European printing business is headquartered in Poland and includes three web offset manufacturing facilities, a logistics and warehousing site and one location dedicated to premedia services. The agreement is subject to customary completion conditions, adjustments and regulatory approvals and is expected to close by the end of 2018.
 
The company expects the transaction will result in debt reduction of approximately $60 million, using a combination of sale proceeds and repatriated cash to pay down debt under its revolving credit facility.
 
 

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