CHICAGO, Sept. 23, 2005 – According to a national printing industry survey, 65 percent of respondents expect merger, acquisition and restructuring activity to increase in 2005, with 70 percent expecting to see significant activity in 2006. However, the industry expects 2006 to be a good year, with 55 percent of respondents saying that they expect their margins to increase. The finding in the Printing Industry Survey, conducted by Grant Thornton LLP in conjunction with the Printing Industries of America/Graphic Arts Technical Foundation, illustrates a printing industry trend toward consolidation and regionalization. “The industry’s margins have decreased in some markets because of the overabundance of supply and competition,” says Alex Laskowski, a Grant Thornton Tax Partner and the firm’s Printing Industry Leader. “In addition, printers are always looking at ways to increase services to customers and lowering the cost of transportation. With advancements in technology and logistics impacting customer’s demands, printers cannot afford to stay with the status quo.” On the employment front, 40 percent of respondents expect employment at their companies to increase in 2005 and 50 percent expect to see an increase in 2006. “This indicates that many in the industry believe the economy will continue to remain strong,” says Laskowski. “In addition, since the printing community is normally one of the first industries to be affected in a downturn, many of those surveyed do not see a downturn in the near term.”