Invesprint Announces Retirement Of CEO And End To Formal Sale Process
Press release from the issuing company
January 28, 2003 --The Board of Directors of Invesprint Corporation announced today that they have accepted the decision of Tony Wong, President and Chief Executive Officer of the company, to retire after nearly 21 years of service to the company. "Tony Wong has been an important part of the life of Jonergin's label operations and Invesprint for many years, and the Board wishes Tony well in his retirement", said the Hon. Bob Rae, Chairman of the Board of Invesprint. Mr. Wong's retirement will take effect later this year, once a successor has been named.
Mr. Rae announced that a search for a successor to Mr. Wong would begin immediately, and that the Board had also decided to end the formal sale process for the whole company which had begun some time ago. "While there was much interest in buying the company, we did not in the end receive offers that reflect its inherent value. The company's strengths inlabel printing and packaging need to be reinforced in the marketplace, and the board is committed to building the business in the years ahead. We have made important capital investments in our businesses, and we want to continue to focus on a strategy that will make us leaders in this sector", said Mr. Rae.
Invesprint is in the business of visual product identification. Through three divisions with five manufacturing facilities in North America, the Company manufactures prime labels and specialty packaging for many major corporations.
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