Base-Line Inc. Acquires Magnet Litho
--Base-Line Completes Second Acquisition of 2007; Continues Expanding its Product Offering--
Shelton, CT– November 16, 2007 – Base-Line Inc., the leading manufacturer and distributor of press and prepress supplies, today announced that it completed the acquisition of Magnet Litho (Magnet). Based in Long Island City, New York, Magnet is a leading converter of films for the graphic arts industry and specializes in image setting film as well as ink jet media.
This is the second strategic acquisition by Base-Line in the past six months, further enabling the company to offer a wide range of products to its loyal customer base. In July, the company completed the acquisition of Pennan Distribution, a leading distributor of offset metal plates for the printing industry. Base-Line, being the inventor of the masking sheet, adding analog plates and now image setting film provides a one stop shop for make ready. The bundling opportunities provided by Base-Line will enhance a dealer’s ordering pattern, inventory control and freight costs.
“The acquisition of Magnet will provide our dealers with an even more comprehensive selection of products that meet all of their pre-press and press needs,” said Howard E. Harper, president and chief executive officer of Base-Line. “Magnet’s president, George Adler, built a tremendous reputation in the industry for high quality products and customer service. We’re committed to maintaining and enhancing that reputation in the marketplace."
“With Base-Line’s leadership, resources and position in the industry, I’m confident this acquisition will bring Magnet to the next level,” added George Adler, president, Magnet. “Moreover, our customers will respond to Base-Line’s attention to detail, responsiveness and ability to provide a wide range of products.”
In the coming weeks, all Magnet products will be marketed under Base-Line’s LEGEND™ brand. Mr. Adler will be maintaining a consulting role for Base-Line’s senior management team.
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