PRINTING INDUSTRY – AUSTRALIA

Printing body blasts Ovato over restructure, redundancies

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Original article by David Ross
The Australian – Page: 13 & 19 : 12-Jan-21

Listed printing and marketing services firm Ovato has attracted further scrutiny over its restructuring plan. Taxpayers will bear most of the cost of 330 redundancies at Ovato, via the federal government’s Fair Entitlements Guarantee scheme; this follows the company’s decision to transfer these workers to corporate entitles that have insufficient funds to pay creditors. Members of the print industry have described Ovato’s restructuring plan as an ‘asset strip’, while Print & Visual Communication Association president Walter Kuhn says the government should have stepped in and insisted that Ovato must pay all redundancy costs.

CORPORATES
OVATO LIMITED – ASX OVT, PRINT AND VISUL COMMUNICATIONS ASSOCIATION

ACCC expresses initial concerns about PMP and IPMG proposed merger

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Original article by
The Australian Competition & Consumer Commission – Page: online : 22-Dec-16

The Australian Competition & Consumer Commission (ACCC) is concerned that the proposed merger between PMP and IPMG may "substantially lessen" competition in the supply of heatset web offset printing. The ACCC expressed its concerns in a Statement of Issues, released on 22 December 2016. ACCC chairman Rod Sims notes that the merger would result in a reduction in the number of significant suppliers in the sector of catalogue and magazine printing from three to two. The final decision is expected to be made on 23 February 2017.

CORPORATES
AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, PMP LIMITED – ASX PMP, THE INDEPENDENT PRINT MEDIA GROUP PTY LTD, IVE GROUP LIMITED – ASX IGL, THE FRANKLIN PRESS PTY LTD, AIW PRINTING PTY LTD