Selig is the executive chairman of Caxton Web, which acquired all the assets of Quality in a deal that took effect yesterday (8 June).
He told ProPrint that Caxton Web is a newly created entity and not technically a division of Caxton Pacific, the property development and investment company formed by the Selig family following its sale of Link Printing in 1997.
The ‘Quality’ brand will cease to exist from today – the printer will continue to operate from the same site in the suburb of Huntingwood as ‘Caxton Web’.
Quality managing director Paul Canty has left the business as of today and will have no ongoing equity participation or operational involvement in the company.
Former Blue Star chief operating officer Mike Shannon will take over as managing director at Caxton Web. Shannon was a high-profile casualty of the management reshuffle that took place at Blue Star in November last year.
Selig said that there were no redundancies planned for Quality’s 60-strong workforce.
Selig left Blue Star in 2007 to take up a role at Caxton Pacific. His brother, Paul Selig, is chief executive of Caxton Pacific. Paul Selig worked for Link Printing, then Blue Star, until 2001, when he took up a full-time role with Caxton.
Geoff Selig said the family was “very pleased” to have re-entered the print sector.
“It’s fair to say we had no intention of re-entering the printed communication space, but we felt that the opportunity to acquire the assets of Quality was attractive to us on a number of fronts,” he said.
“We’re very impressed with the contemporary equipment profile, and we think we can leverage a lot of the underlying strengths of the business to recalibrate it and take it to a stronger market position.”
The company operates two Goss M600 16pp web offset presses, a full sheet-size Heidelberg Speedmaster CD press with aqueous coating, and a range of stitching and perfect-binding equipment. Selig said there were no plans in the short term to expand this kit base.
Geoff Selig, Paul Selig and Mike Shannon make up the current Caxton Web board, with further appointments to the board and senior management team to be made in the near future.
Paul Canty could not be reached for comment.
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