PMP acquires printing company Saxon Print

4 October 2004

PMP acquires printing company Saxon Print

Leading Print Media services company PMP (NZ) Limited has announced today the purchase of Christchurch printing company, Saxon Print.

PMP Digital, a division of PMP Limited, has purchased a majority shareholding in sheet-fed printing company Saxon Print Group Limited in Christchurch.

PMP New Zealand Chief Executive, Rodger Shepherd, says the Saxon Print acquisition is a continuation of the company's growth strategy. Last year PMP purchased real estate print-solutions business Maxum and sheet-fed printing company Printworld. With this latest Saxon Print acquisition, PMP is building a significant sheet-fed presence in the New Zealand market that offers capacity in both the North and South Islands.

PMP already has a strong presence in Christchurch. Last year the company invested $15 million in a web printing press for its Christchurch plant, and Mr Shepherd says Saxon Print will further add to the company's South Island print capabilities.

"Saxon is one of the largest sheet-fed printing companies in the South Island, and we see this acquisition as a way to further our commitment to serving this important market," he says.

The acquisition increases PMP's staffing in the South Island to more than 200 staff across Saxon Print and PMP. There will be no redundancies as a result of the purchase, and rather Mr Shepherd believes there may be opportunities for employment growth in the future.

"PMP are continuing to grow our sheet-fed revenue at a high rate which requires us to keep increasing capacity."

Blair McDermott, owner and founder of the company, will continue to manage the company. He says it will be business as usual for his clients.

PMP Limited is a leading market insight, print media services provider in Australasia and is listed on the Australian stock exchange. In New Zealand the company employs more than 900 people in Auckland, Wellington and Christchurch and has revenue in excess of $250 million.

ENDS

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