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New York investment Firm Buys Rhodes Printing

Press release from the issuing company

December 28, 2002 - According to Business First, Windward Capital, a New York City-based private investment firm, has bought Charlestown-based Rhodes Printing Group. Rhodes prints advertising inserts for newspapers. It will be combined with Houston-based AdPlex, another recently purchased Windward company, which provides a variety of advertising planning and marketing services to retailers. Dan Sanders, executive vice president of premedia for AdPlex-Rhodes, told Business First that because of its modern, high-speed color printing presses and ancillary equipment, the Charlestown operations will remain a key component for the new company. "For so long, AdPlex was known as a strong marketing company that didn't have print services, and Rhodes was highly regarded as one of the premier insert printers in the country," Sanders said. "With the marriage of these companies, we can provide a turnkey solution for retailers." The company's headquarters will be located in Houston. In addition to its Charlestown facility, Rhodes had operations in Rock Hill, S.C., and Carrollton, Texas. AdPlex also had a plant in Greensboro, N.C. All will remain in operation, and none of the combined companies' 800 jobs will be eliminated. Carl Rhodes, former co-owner of Rhodes Printing, will remain with the new company and will be based in Charlestown. He will serve as vice chairman of the new company and will focus on business development. Rhodes' sister, Linda Rhodes Kopatz, who had served as president of Rhodes, will retire.