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Veritage Press, based on the NSW Central Coast, has been purchased printing firm Print National, based in Newcastle, NSW, for an undisclosed sum of money, and has been renamed Veritage (Sales) Pty Ltd. The purchase took place on January 5, 2004 and saw the exit of well-known industry identity and former owner of Veritage Press John Youngman after he placed his company in voluntary administration after several bad debts began to weigh heavily upon the business. Administrators Star Dean-Willcocks had been appointed to seek expressions of interest in selling the business as a going concern.According to Kent Rowe, Print National manager, Veritage was purchased by Print National owner David James, who "has the energy and the knowledge needed to save the 30 jobs at Veritage Press, and the business", but emphasises that it will continue to be run as a separate business.
"It’s important everyone understands nothing is changing at Veritage. It will be business as usual, and we have already reduced the running costs significantly, this will allow us to turn the company around into a profitable business, which I don’t believe it has been for some time," says Rowe.
"We will be keeping nearly all of the 30 or so employees, so it is quite good for those employees to know that their future is now secure."
According to Rowe, the Veritage Press business is a perfect fit for Print National, with more opportunities expected to arise for both businesses as part of the relationship.
"There are definite synergies between the two businesses. Veritage have been outsourcing its half sheet work to other printing houses, while we have been outsourcing our full-sheet work. We will now be forwarding our work to Veritage, and vice versa," says Rowe.
Buyers Print National was reborn recently as a separate entity after operating for nine years as the print operations of Lloyd Scott Enterprises after it was purchased two years ago by James, who also has interests in wine and bearings.
The company says it is committed to the latest in print, internet and digital technology, utilising a number of multicolour and single-colour presses, a fleet of Xerox DocuTechs and other Xerox digital colour production printers.
The company also has a full finishing department, design and prepress department with email, ftp and http file transfer options, plus a statewide distribution network.
