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Graphic Printing Services acquires Dorsett Printing, To invest $500k in new equipment

Press release from the issuing company

HIGH POINT, NC - Nov 21, 2006 - Graphic Printing Services, Inc. (GPS) has acquired the business and operations of Dorsett Printing Corporation located in Thomasville, N.C. Dorsett Printing specializes in the design and production of flexographic labels and tags for leading manufacturers and retail store chains in America. Plans call for Graphic to consolidate Dorsett’s flexographic label and tag business with Graphic’s Flexographic Printing Department in 2007 creating a new and much larger flexo department than currently exists at either company. All current Dorsett employees have been retained and will be an important part of the combined operation. The consolidation will result in 10 new jobs for Graphic’s consolidated operation at its facility in High Point’s Piedmont Centre. Burr W. Sullivan, President of Dorsett Printing Corp., will be managing the current Thomasville operation until the consolidation takes place and will serve as a full-time consultant to Graphic Printing Services, Inc. with primary responsibilities of servicing and assisting customers. Graphic Printing Services, Inc. will also be investing an additional half million dollars in new flexo printing equipment to further expand the capabilities of the combined and expanded flexographic printing operation in High Point’s Piedmont Centre. Bryan T. Hall, GPS President and CEO, said, "We are extremely excited and honored that our two companies can join together to create a world-class flexographic printing facility offering enhanced capabilities to our customers that will be among the best in our industry. The combined operation will bring to the marketplace over 65 years of combined years in the printing industry. Both companies are excited about the opportunities to grow together while offering our customers a wider range of capabilities, enhanced customer service and superior value. This was our first acquisition experience, and it was a very positive one. The acquisition of Dorsett was perfect because of the similar culture, ethics and the common commitment to our employees and customers. We are open to future acquisitions if the fit is right and if it will make the company stronger for our employees and customers." Burr Sullivan, Dorsett Printing Corp. President, said, "We are excited about the opportunity to combine our resources with those of Graphic Printing Services, Inc. in order to provide more products and services to our many customers. I am certain that the core values which have guided Dorsett Printing since its inception in the Triad some 44 years ago are the same ones we admire today at Graphic. We see a bright future ahead for our combined organizations, and will be working very hard to insure a seamless integration of our business units during the coming months." Mr. Hall sees this acquisition and new investment in equipment as a means of providing even better quality, service and printing capabilities to customers of Graphic. "We believe that an important part of servicing our customers is to continually look for ways to expand and improve the services and capabilities that we provide. As a result, we have always committed our company’s resources to being on the forefront of technology. Our commitment to investing in the best equipment and team members will provide continuous improvement in service, value, and quality to our customers. We are excited to have the employees of Dorsett Printing, who bring over 185 years of combined label printing experience, join our team at GPS. We are also honored to have the opportunity to service the printing and packaging needs of each of the customers of the combined operation." Loren Hill, President of the High Point Economic Development Corp., said, "The growth and success of Graphic Printing Services, Inc. has been impressive. It is clear that this excellent corporate citizen is committed to being on top of technology with its investment in the newest and best printing equipment."