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August 24, 1999
DAY International Acquires International Pressroom Chemicals Suppliers: Acquisition will Expand Product Offering to Graphic Arts Industry
Dayton, Ohio -- August 18: DAY International Group, Inc., announced today
that it has signed a definitive purchase agreement to acquire the stock
of Varn International, The acquisition is expected to be completed before
the end of the year and is subject to regulatory approvals, financing,
and other customary closing conditions.
For the more than 50 years Varn has been a leading supplier of pressroom
chemicals to the printing industry on a worldwide basis. The Varn brand
is recognized globally as the market leader in pressroom chemicals, with
distributors selling Varn products in over 90% of the global economy.
Through its Graph Tech subsidiary, Varn also manufactures the Kompac brand
of automatic dampening systems for printing presses. Varn will continue
to operate as a stand-alone business unit.
"We wanted to continue to diversity our business and product offering
while maintaining focus on our core business competencies," said
Day International President and CEO Dennis R. Wolters. "We have had
great success with our offset blanket and sleeve products. Varn has had
similar success with their pressroom chemical products. We decided to
partner with Varn so both entities could benefit from aggressive technology
development and well-established market positions. Varn also offers products
to its customers that encompass the same integrity on which we’ve
built our business: engineered products, high quality and superior service."
According to Varn co-owners Joseph and Vincent Von Zwehl, "We believe this partnership with DAY International will enable us to continue to support our philosophy of being problem solvers and very service oriented to our customers. Also, we see this as an attractive opportunity to expand sales of our products and to support the companies going into the new millenium."
