Multi-Color Corporation Announces Reorganization
Thursday, December 08, 2005
CINCINNATI, Dec. 7 -- Multi-Color Corporation today announced the intent to combine its Decorating Solutions Division and Packaging Services Division into one business unit focused on leveraging the Company's total value proposition and organizational talent. Combined, these businesses produce and market a wide assortment of innovative decorating and packaging services to consumer product and food and beverage companies, national retailers, and container manufacturers worldwide. The combined business unit will be integrated under the management of Donald E. Kneir. Mr. Kneir has held the position of President, Decorating Solutions Division since February, 2004. This combination will result in the immediate elimination of two positions within the Company. Edward V. Allen, President Packaging Services Division, will be leaving the Company effective today. In addition, the division controller position was previously vacated. "I want to thank, Ed, for his contribution to Multi-Color and wish him the best in his future endeavors," commented Frank Gerace, President and Chief Executive Officer. Mr. Gerace added, "Combining these two divisions will optimize the benefits of Multi-Color's strong product research and development capabilities, promote greater cross-selling of products and services, and leverage our market knowledge, customer relations, and internal organization."