The Burlington Free Press is reporting Lunenburg, Vermont-based Stinehour Press closed its doors on Monday.

Stinehour Press managing director and CEO Warren Bingham cited the inability to invest in new technology and competition from foreign printers as lead causes in the company's closure:

Stinehour's offset press equipment lacks many of the digital time-saving devices and speed of newer presses, leaving the company behind the technology curve.

The company forfeited several million dollars in business last year due to capacity constraints caused by the old equipment, which Bingham estimates would require at least a $3 million investment to be competitive.

Stinehour Press was started in 1951 and remained family-owned until its sale in 1998 to James Crean plc, an Irish multi-national corporation.