Reprographics 101

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  • Did the Great Recession end, or did it not? And, if not, are we now headed for a double dip?

    The other day on WhatTheyThink.com, Dr. Joe Webb put forth some very interesting commentary and information on the U.S. economy and included excellent charts showing ups and downs in GDP. One of the people who made a comment included a link to another article, and I found that one to be extremely interesting.

    After adjustments, it looks like we never came out of the Great Recession, after all. I keep thinking about that old saying, “if it looks like a duck and walks like a duck, well, maybe it really is a duck! And, if we never came out of the recession, then a dip would be a double dip. I was informed that, if the economy came out of a recession, another following recession can’t be called a double dip. I guess the REAL question is, did the Great Recession end, or did it not end. Hard to believe anyone’s numbers nowadays. Like Lewis Black might put it, “let’s just make up the numbers.”

    Here are the two articles I mentioned, the first one is from Dr. Joe Webb, and the second one is from Tyler Durden.

    – – – – –

    WhatTheyThink Blogs

    Economics & Research

    Dr. Joe Webb on economics, strategy, marketing, and other random thoughts

    GDP Data Revisions Show Steeper Recession and Unrecovered Economy

    By Dr. Joe Webb on August 1st, 2011

    First two paragraphs of the article:

    The Bureau of Economic Analysis released Gross Domestic Product (GDP) data for the second quarter, and it disappointed economists and analysts with its small +1.3% annual growth rate. The real surprises, however, were in the details of five years of revisions, especially that made of the first quarter of 2011. The new data for Q1-2011 was revised down, significantly, from the initial +1.9% to only +0.4%.

    There revisions also showed that the recession was deeper than originally reported. The original data showed that the economy surpassed the level of Q4-2007, when the recession started, in Q4-2010. These new data showed that the economy had still not reached those levels.

    You can read the complete article at this Internet address:

    http://tinyurl.com/3psxuo7

    – – – – –

    Guest Post: Q2 GDP – The Numbers Don’t Add Up

    By Tyler Durden

    Created 07/30/2011 – 12:43

    Couple of snips from this article

    Comments at the end of the article; “Fool me once shame on you, fool me twice shame on me.”

    Don’t be fooled by the state of the US economy. In reality we never left recession but regardless we are clearly back and the data points to anything but a soft patch. This report and the Q1 revision was truly horrible. In my view it shows the US far more vulnerable to a prolonged period of contraction versus a Japanese style period of rolling recessions.

    You can read the complete article at this Internet address:

    http://www.zerohedge.com/print/435933

  • American Reprographics Co (ARC) – first comment about ARC's Q2 2011 Results

    First comment about ARC’s Q2 2011 results (I will likely have additional comments about ARC’s Q2 2011 results, after I’ve set-aside time to review the financials in more detail and to review the transcript of the earnings call.

    But, for now, here’s a sentence that appeared in the Press Release about ARC’s Q2 2011 results:

    ARC’s net loss for the second quarter was $84.6 million or a loss of $1.87 per diluted share, primarily due to the recording of a goodwill impairment charge in the amount of $23.3 million and a deferred tax asset valuation allowance of $64.3 million.

    Comment: Previously (if my memory serves me correctly, three times in the past we’ve seen ARC take charges for “goodwill impairment.” But, the charge ARC took in Q2 for “deferred tax asset valuation allowance” was a new one.

    For those of you who are interested in learning more about the valuation allowance – the hit, if you will, to ARC’s income statement for Q2 2011, here’s some information – courtesy of a national CPA firm’s web-site – about that type of hit:

    Deferred Tax Assets and the Need for a Valuation Allowance

    Deferred tax assets are the deferred tax consequences attributable to deductible temporary differences and carryforwards. After the deferred tax asset has been measured using the applicable enacted tax rate and provisions of the enacted tax law, it is then necessary to assess the need for a valuation allowance. A valuation allowance is needed when, based on the weight of the available evidence, it is more likely than not (a likelihood of more than 50 percent) that some portion or all of a deferred tax asset will not be realized. Realization of a deferred tax asset is dependent on whether there will be sufficient future taxable income of the appropriate character (e.g., ordinary income, capital gain income) in the period during which deductible temporary differences reverse or within the carryback and carryforward periods available under the tax law.

    Assessing the need for, or the sufficiency of, a valuation allowance will require management to evaluate all available evidence, both negative and positive. When negative evidence (e.g., cumulative losses in recent years, history of operating loss or tax credit carryforwards expiring unused) exists, more positive evidence will be necessary. Objective negative evidence is difficult to overcome.

    At the heart of positive evidence necessary to overcome the negative evidence is future taxable income of sufficient amounts and character within the carryback and carryforward periods available under the tax law. The following sources of taxable income may be available under the tax law to realize a portion or all of a tax benefit for deductible temporary differences and carryforwards:

    • Future reversals of existing taxable temporary differences

    • Taxable income in prior carryback year(s) if carryback is permitted under the tax law

    • Tax planning strategies

    • Future taxable income exclusive of reversing temporary differences and carryforwards

    Management must usually prepare budgets or projections to document potential future taxable income. Auditors need to carefully evaluate the reasonableness and achievability, especially of the key assumptions, on which the forward-looking information depends. Whenever deferred tax assets are material, and especially if those assets are measured on operating loss and tax credit carryforwards, management’s skills and auditors’ professional skepticism need to be carefully applied and appropriately documented. In making “real-time” judgments about the valuation allowance, it should also be remembered that those judgments will be subject to second-guessing by those who have perfect hindsight.

    Further, the Securities and Exchange Commission expects certain disclosures in management’s discussion and analysis of financial condition and results of operations about the “quality” of deferred tax assets. If significant objective negative evidence indicates uncertainty regarding realization of the deferred tax asset, the countervailing positive evidence relied upon by management in its decision not to establish a full allowance against the asset should be identified.

  • Contest Entries no longer accepted; it's now after the deadline

    Guesses at ARC’s Q2 2011 Sales revenues ranged from high of $113.40 mil to a low of $104.50 mil. (correction, the lowest entry was $99.9 mil.)

    ARC will release its Q2 2011 results tomorrow afternoon (Thursday, August 4th), after the close of the stock market, so I’ll know the winner of the contest as soon as ARC’s results are released.
    Thank you to those of you who took the time to submit entries.

  • Denise Gustavson of Wide-Format Imaging interviews Roger Lackey, Senior Regional Vice President, ARC Western

    I’d like to thank one of my frequent blog-visitors for alerting me to this video interview –

    ISA 2011: Industry Trends Report – Part Eleven


    Wide-Format Imaging Editor, Denise M. Gustavson, discusses current industry trends with Roger Lackey, Senior Regional Vice President, ARC Southern California (or ARC Western?)

    Roger responds to Denise’s questions about ARC’s current business initiatives.

    One of the questions Denise asks Roger:

    “Greatest challenge to the industry, right now?”

    Roger’s response (not verbatim) …. at the end of several statements, Roger shrugs and says, “I don’t really know where we’re going.”


    Joel’s comment: Well, ain’t that the truth. Right now, it is very hard to see where reprographers will be in the future.

    Internet address for the video:

    http://www.myprintresource.com/video/10279050/isa-2011-industry-trends-report-ndash-part-eleven

  • "Construction Today" to close and a Chicago newspaper company cuts 456 printer jobs

    (Crain’s, Aug 2, 2011) —

    Six Cook County companies have notified the state that they plan a total of more than 800 job cuts by September.

    Sun-Times Media Holdings LLC, publisher of the Chicago Sun-Times and other newspapers, will eliminate 456 jobs at its Chicago printing plant, according to a monthly Worker Adjustment and Retraining Notification Act report released by the Illinois Department of Employment Security.

    The Worker Adjustment and Retraining Notification Act — known as Warn — requires firms with at least 75 employees to give the state 60 days’ notice of closings or a certain number of layoffs

    Sun-Times Media’s layoffs are the result of its decision last month to stop printing its own issues. Outsourcing printing responsibilities to rival Tribune Co. will save the struggling media company about $10 million annually.

    Most of the workers losing their jobs are unionized pressroom personnel, paper handlers, electricians, machinists, drivers and operating engineers. Layoffs will begin on Sept. 30 and conclude by Dec. 30, according to the state report.

    Also in Chicago, Schofield Media Group LLC, which publishes Construction Today, Manufacturing Today and other business-to-business magazines, will close after unexpectedly losing its bank funding, according to President and Chief Operating Officer Brian Reshefsky. The number of jobs affected totals 107. (http://www.construction-today.com/)

    “Wells Fargo (Schofield’s lender) gave us no explanation. They pulled our funding (July 15),” Mr. Reshefsky told BtoB, a Crain’s sister publication.


    Joel’s comment:

    I’d like to thank Vern Kellie of Imaging and Printing Corporation, Chicago, for bringing this news to my attention.


  • Noteworthy changes in employment in the reprographics industry

    Ryan Miller, formerly with ARC, has joined the C2 Reprographics team.

    Current Position:

    Senior Director of Technology and On-site Service

    C2 Reprographics

    May 2011 – Present (4 months) Southern California

    The future of technology in our industry will see most companies move to digital document management, collaboration, and distribution. C2 will achieve this through tools such as BIM – Building Information Management, Planwell, and Bidmail. To fulfill the needs of day to day printing, C2 can manage equipment in our client’s offices for quick and timely printing of what they need.

    Prior Position:

    Technology Services and Sales Executive

    American Reprographics Company

    April 2006 – April 2011 (5 years 1 month)

    My primary role and responsibility over the last 5 years was to represent approximately 200 accounts in the Inland Empire. By establishing strong relationships with my clients, I was able to implement new product and service offerings, minimize the possibility for preventable errors in service, and grow the revenue within many of these accounts. 

Over the last few years I have embraced the technology ARC developed and helped to test and successfully execute new products in our marketplace. As a result, I am very well versed in multiple document management and file collaboration tools. 

Another area I provided service to my clients was in the sales of consumable media and output devices. I was instrumental in executing equipment contracts with over 50 clients during my time with ARC.

In 2010, I was selected as 1 of only 20 employees in our organization to participate in Future Leadership. This year long training involves teaching financial awareness and management skills. Multiple days were spent reading and dissecting company balance sheets and profit and loss statements to identify errors or areas of improvement. There was also time spent learning MAP style leadership. I successfully completed this course.

    NOTE TO BLOG VISITORS:

    PLEASE ALERT ME TO PEOPLE ON THE MOVE IN THE REPROGRAPHICS INDUSTRY.

  • Service Point Solutions provides an advance look at its First Half 2011 Results

    Buenos Dias, Good Morning…

    I found this (the following) Press Release on ServicePointSolutions’ web-site, this morning. I did not find an English language version of the Press Release, I only found a Spanish language version.

    You’ll first see the Spanish language version of the Press Release, followed by an English language version generated by Google Translate. Google Translate does not do a perfect job.

    Service Point reports that its 1st Half 2011 Sales have increased over the Sales it reported for the 1st Half of 2010. Service Point does not mention, in the Press Release, how much of that increase was generated by the newly acquired Holmbergs operation. (An acquisition SP completed, this year, in Scandanavia.) I suspect that a good portion of the increase in sales, if not all of it, resulted from the addition of Holmberg’s revenues.

    EBIT and EBITDA are both positive numbers, and, while that’s a good sign, I’m always interested in seeing what a company’s bottom-line results (earnings) are after Interest Expense. Interest payments are not a non-cash expense!

    Here’s the Spanish language version of the Press Release:

    AVANCE DE RESULTADOS PRIMER SEMESTRE DE 2011

    El beneficio operativo de Service Point crece un

    78,5% durante el primer semestre de 2011

    Barcelona, 3 de Agosto de 2011 – Las Ventas de Service Point Solutions han alcanzado los 110,5 millones de euros durante el primer semestre, lo que representa un crecimiento del 5% respecto al mismo periodo de 2010.

    El crecimiento ha sido resultado del incremento en la actividad comercial del grupo especialmente en los mercados Escandinavos (Noruega y Suecia) y centros Europeos (Países Bajos y Alemania) donde se ha notado por un lado una recuperación de la actividad económica en la base de clientes y por otro lado, se han obtenido tasas de crecimiento de doble dígito en las actividades consideradas estratégicas para el desarrollo de los próximos ejercicios: impresión online, impresión bajo demanda y gestión documental para el sector financiero.

    A nivel de EBITDA el crecimiento ha superado el 15%, especialmente gracias a una continuada reducción de costes operativos fijos. A pesar del incremento en el perímetro de consolidación a partir del mes de mayo con la incorporación de Holmbergs en Suecia, los costes operativos fijos han bajado en casi 2 millones de euros. El Grupo recientemente ha introducido nuevas medidas de reducción y control de gastos que se espera produzcan un efecto de disminución ulterior para el segundo semestre en curso. En paralelo, el Grupo ha seguido apostando por el crecimiento en la inversión en capacidad productiva y comercial, recientemente se han abierto los dos mayores centros de producción de Service Point en Europa Continental (Alphen aan den Rijn y Países Bajos) y Escandinavia (Malmö); la actividad de estos centros es plenamente productiva de cara al segundo semestre del ejercicio.

    El beneficio operativo (EBIT) ha sido de 4,3 millones de euros, respecto a los 2,4 millones registrados en el primer semestre de 2010, lo que implica una tasa de crecimiento cercana al 80%.

    Euros ‘000

    Primer Semestre 2011

    Primer Semestre 2010

    Crecimi-ento

    Ventas

    110.55

    105.77

    5%

    EBITDA

    9.24

    8.02

    15%

    EBIT

    4.28

    2.40

    79%

    Costes Operativos Fijos

    61.46

    63.36

    -3%

    El desglose completo de los resultados, flujos de efectivo y balance de situación se hará público a finales del mes de agosto.

    Para más información Service Point Solutions, S.A.

    Pablo Divasson del Fraile

    pablodivasson@servicepoint.net

    Tel +34 93 508 2400

    Fax +34 93 508 2442

    Here’s the English language version of the Press Release:

    PROGRESS RESULTS FIRST HALF OF 2011

    Operating profit grew by Service Point

    78.5% during the first half of 2011

    Barcelona, August 3, 2011 – The Service Point Solutions Sales reached 110.5 million euros in the first half, representing a growth of 5% over the same period in 2010.

    Growth has been a result of increased commercial activity of the group especially in the Scandinavian markets (Norway, Sweden) and European centers (the Netherlands and Germany) where one side has noticed a recovery in economic activity in the customer base and on the other hand, rates have been achieved double-digit growth in activities considered strategic for the development of the next few years: online printing, on demand printing and document management for the financial sector.

    In terms of EBITDA growth has exceeded 15%, especially thanks to a continued reduction in fixed operating costs. Despite the increase in scope of consolidation from the month of May with the addition of Holmbergs in Sweden, fixed operating costs have dropped by almost 2 million euros. The Group has recently introduced new measures to reduce and control costs are expected to produce an effect of a subsequent decrease for the second semester. In parallel, the Group continued betting on growth in investment in productive capacity and trade, recently opened two major production centers in Europe Continental Service Point (Alphen aan den Rijn, Netherlands) and Scandinavia (Malmö) , the activity of these centers is fully productive for the second half of the year.

    Operating profit (EBIT) was 4.3 million euros, from 2.4 million in the first half of 2010, implying a growth rate close to 80%.

    translation >

    1H 2011

    1H 2010

    Growth

    Euros ‘000

    Primer Semestre 2011

    Primer Semestre 2010

    Crecimi-ento

    Ventas

    110.55

    105.77

    5%

    EBITDA

    9.24

    8.02

    15%

    EBIT

    4.28

    2.40

    79%

    Costes Operativos Fijos

    61.46

    63.36

    -3%

    Ventas =

    Sales

    Costes Operativos Fijos =

    Fixed Operating Costs

    The full breakdown of results, cash flows and balance sheet will be announced in late August.

    Service Point Solutions (www.servicepoint.net) is a leader in the field of document management services and digital printing. It is present in various sectors such as architecture, engineering, construction, finance, government and education, which serves more than 30,000 B2B customers. It employs 2140 people in 9 countries (UK, USA, Spain, Germany, Netherlands, Belgium, Norway, France and Sweden) have a total of 133 service points in its international network, 816 facilities management, presence through the global network and a growing Globalgrafixnet online business now accounts for 6% of its sales. Headquartered in Spain, SPS is quoted on the Stock Exchanges of Madrid and Barcelona (ticker: SPS.MC).

    For more information Service Point Solutions, SA

    Pablo Divasson del Fraile

    pablodivasson@servicepoint.net

    Tel +34 93 508 2400

    Fax +34 93 508 2442

  • Reprographers will end up losing out if this impasse continues! And, this is a ridiculous impasse!

    The following article is not posted on Repro 101 as a “political” statement or viewpoint. I’ve chosen to post this article on the blog because it talks about the loss of construction jobs and funding for future airport infrastructure development projects.

    We need the loss of construction jobs like we need “a hole in the head.” I don’t know about you, but, over the many years I was in the reprographics business, some of the largest and most profitable reprographics projects we participated in were Airport “new construction” and “renovation” projects. I can even recall that one customer (HOK, Orlando office) purchased $160,000! (January of that year) and $91,000! (February of that year) worth of plan and spec printing services – for an Orlando International Airport project they were involved in. And, I’m not bullshitting you.

    If I understand the situation correctly, certain members in Congress are holding out for a $16.5 million cut, and, while they are holding out for that cut, the U.S. Govt, so far, has lost $250 million in revenues from fees. If that isn’t ridiculous, I don’t know what is. If funding for Airport projects continues to be negatively affected, reprographers are going to suffer because of that. Get on the horn to your congressmen and tell them to wake up!

    Cost of FAA Shutdown Could Exceed $1 Billion: LaHood

    Published: Tuesday, 2 Aug 2011 | 12:00 PM ET

    Continued inaction by Congress will cost the U.S. more than $1 billion in tax revenue and has already cost 70,000 construction jobs and 4,000 jobs at the Federal Aviation Administration, Transportation Secretary Ray LaHood told CNBC Tuesday.

    “We’re right smack dab in the middle of construction season. There are 70,000 workers off job sites today because Congress can’t get their act together and can’t compromise,” he said.

    The holdup is a product of a quarrel between Senate Democrats and House Republicans who are demanding a $16.5 million cut in rural air service subsidies known as essential air service, or the money that’s paid small airports so planes can fly in and out.

    The shutdown lifted the requirement for airlines to collect certain ticket taxes, resulting in a loss of $250 million in revenue so far that would have gone to a trust fund that helps pay for airport infrastructure projects. A shutdown through August would raise that total to more than $1 billion.

    LaHood blasted conservatives who belied their own rhetoric by not acting on the FAA’s funding during the debt-ceiling negotiations.

    “If this is not resolved there’ll be $1 billion in taxes that aren’t collected,” LaHood said. “So for all these conservative politicians who are worried about the debt and deficit, $1 billion in taxes will not come into the coffers if this continues…That isn’t the way to create revenue, in my opinion.”

    In addition, “this is a time when we hear politicians talking a lot about creating jobs. Well, this is not the way to create jobs by laying off 70,000 construction workers.”

    The FAA’s long-term operating authority expired in 2007. Since then, Congress has been unable to agree on a long-term funding plan. The agency has continued to operate under a series of 20 short-term extensions.

    The latest extension expired at midnight on July 22 after Senate Democrats rejected a temporary extension bill passed by the House that contained the subsidy cuts. Senate Republicans blocked a Democratic extension that didn’t include cuts.

    The Senate, with the federal debt crisis resolved, is expected to leave by the end of the week for its August recess. The House has already left. Unless the Senate accepts the House bill, lost revenue from uncollected airline ticket taxes could exceed $1.2 billion before lawmakers return to work a month later, senators said.

    “This is not a lost cause,” LaHood said. “I am asking Congress to pass the bill today. Congress is still in session.”

    The lost ticket tax revenue is costing the government an estimated $200 million a week. Besides the furlough of the 4,000 employees, the FAA has issued stop-work orders on more than 200 construction projects.

    Air traffic controllers have remained on the job and LaHood stressed safety hasn’t been compromised. “This has nothing to do with the safety of the flying public,” he told CNBC. “Thousand of people are flying safely.”

  • U.S. June construction spending up 0.2%

    Stagnation!

    First, here’s “Marketwatch’s” spin on the most recent news about construction activity:

    U.S. June construction spending up 0.2%

    10:07 am ET 08/01/2011 – MarketWatch Pulse News Bullet

    WASHINGTON (MarketWatch) — Outlays for U.S. construction projects rose 0.2% in June, the Commerce Department reported Monday. The gain was in line with expectations. Outlays are down 4.7% compared with a year earlier. Spending on private construction paced the increase, rising 0.8% compared with a 0.3% gain in May. Residential construction fell 0.3%. Non-residential construction rose 1.8%. Spending on public projects fell 0.7% after remaining flat in May. By itself, the data suggests little revision to second quarter GDP. The government assumed a 0.3% rise in construction spending in its initial estimate of second quarter growth. The economy grew at a sluggish 1.3% pace in the second quarter.

    Second, here’s “Reuters” spin on the most recent news about construction activity:

    June construction spending hits 6-month high

    WASHINGTON | Mon Aug 1, 2011 10:07am EDT

    (Reuters) – Construction spending unexpectedly rose in June to touch a six-month high as an increase in private outlays offset a drop to a four-year low in public spending, a government report showed on Monday.

    Construction spending advanced 0.2 percent to an annual rate of $772.32 billion, the Commerce Department said. May’s construction spending was revised to a 0.3 percent increase rather than the previously reported 0.6 percent decline.

    Economists polled by Reuters had expected construction spending to be flat in June.

    Overall construction spending fell 4.7 percent from a year ago.

    Private construction spending rose 0.8 percent to a seven-month high as an increase in nonresidential outlays offset a second straight month of declines in spending on residential projects.

    Spending on public construction projects dropped 0.7 percent to $278.91 billion, the lowest level since March 2007. The decline reflected weak spending on federal projects, which dropped 2.2 percent. State and local government spending fell 0.6 percent to the lowest level since November 2006. (Reporting by Lucia Mutikani; Editing by Neil Stempleman)


  • Service Point Solutions (in Europe) opens large Production Center for Digital Printing, Document Management, Packaging and Franking

    Buenos Dias, Good Morning…

    I found this (the following) Press Release on ServicePointSolutions’ web-site this morning. I did not find an English language version of the Press Release, I only found a Spanish language version.

    For those of you who are geographically-challenged, the word, “Benelux” stands for Belgium, The Netherlands, and Luxembourg. “Franking” stands for “mailing (applying postage.)

    You’ll first see the Spanish language version of the Press Release, followed by an English language version generated by Google Translate. Google Translate does not do a perfect job.

    Based on the Press Release, it “looks like” Service Point may have consolidated three locations into one – one very large location. 2,500 square meters is approximately 27,000 sq. ft.

    In the Press Release, SPS indicates that its Benelux operations generated 34 million Euros in revenue in the first half of 2011. If you annualize that number and convert the annualized number to USD (dollars), that would equate to an operation generating approximately $98 million dollars, annually. That’s a considerable chunk of change! I’m surprised that SPS’ target is only 10% EBITDA.

    Here’s the Spanish language version of the Press Release:

    Service Point duplica su capacidad en los servicios de gestión documental en Benelux

    Barcelona, 1 de Agosto de 2011 – A partir de hoy entra en funcionamiento un nuevo centro de servicios de Service Point en Benelux, con una capacidad productiva que permitirá doblar el volumen de facturación de Service Point en los servicios de impresión y gestión documental. El nuevo centro de Service Point en Holanda está a la vanguardia en la impresión y gestión documental. El nuevo centro de 2.500 m2 centraliza la producción, gestión y distribución de los servicios y productos de Service Point contando con las últimas herramientas, equipos y servicios en lo que se refiere a tecnología digital.

    Con este paso Service Point Holanda centraliza en uno la producción de tres centros, obteniendo así una mayor eficiencia, un ahorro importante de costes y la capacidad de ofrecer productos de alta calidad a precios más competitivos.

    Este centro, que es también la sede holandesa de Service Point, se encuentra en Alphen aan den Rijn y con su apertura se superan las necesidades actuales y futuras de la impresión online, tanto en capacidad de producción como en calidad ya que permite conseguir productos de la más alta calidad en el mercado.

    En esta permanente vocación de servicio, Service Point Holanda da un paso más al servicio global al cliente: diseño gráfico, impresión digital, empaquetamiento y franking.

    “Creemos que nuestra nueva localización además de que nos permitirá ser más eficientes nos va a ayudar a aumentar la calidad y número de servicios a nuestros clientes” afirma Ruud Huursping, General Manager de Service Point Holanda. “Tenemos todo en único lugar para ofrecer la más alta calidad e innovación a precios muy competitivos”.

    Las ventas de Service Point en Benelux fueron de 34 millones de euros en el primer semestre del año, un 7% más respecto al mismo periodo del año pasado. El nuevo centro permitirá incrementar la rentabilidad, el objetivo a medio plazo para el grupo, es conseguir en Benelux un EBITDA del 10% sobre las ventas.

    Here’s an English language version of the Press Release, courtesy of Google Translate:

    Service Point doubled its capacity in the document management services in the Benelux

    Barcelona, August 1, 2011 – Starting today, comes into operation a new service center Service Point in the Benelux, with a production capacity that will double the turnover of Service Point in the printing and document management. The new Service Centre Point in the Netherlands is a leader in printing and document management. The new 2,500 m2 center centralizes the production, management and distribution of products and services Service Point counting on the latest tools, equipment and services in regard to digital technology.

    With this step, Service Point Netherlands centralizing production in one of three centers, thus obtaining greater efficiency, significant cost savings and the ability to offer high quality products at competitive prices.

    This center, which is also home to Dutch Service Point is located in Alphen aan den Rijn and openness are overcome current and future needs of online printing in both production capacity and quality as it allows to get products the highest quality on the market.

    In this ongoing commitment to service, Service Point Netherlands takes a step closer to global customer service, graphic design, digital printing, packaging and franking.

    “We believe our new location in addition to allowing us to be more efficient will help us to improve the quality and number of services to our customers,” says Ruud Huursping, General Manager Service Point Netherlands. “We have everything in one place to provide the highest quality and innovation at competitive prices.”

    Service Point’s sales in Benelux were 34 million euros in the first half of the year, up 7% over the same period last year. The new center will increase profitability, the medium-term objective for the group, is to get in Benelux EBITDA of 10% on sales.