Prime Source News
Prime Source Charlotte Plant and OPC Graphics to Consolidate
March 4, 2009 - OPC Packaging Corporation of Winston/Salem, NC and Prime Source (PSIC, Inc), Charlotte, NC and Longboat Key, FL announces their intention to consolidate their narrow web flexographic and digital printing operations. The two companies have been informally discussing this strategic move for the past two years and the current economic downturn provided the impetus for the companies to take this action now.
The companies decided to make the announcement at this time in order to allow the due diligence procedures to be completed in an open atmosphere. Manufacturing operations will be consolidated into the 40,000 square foot OPC facility in Winston/Salem. Current plans call for the relocation of a limited number of Prime Source employees from Charlotte, including John David Walden, Plant Manager. Walden will assume the same responsibilities for the consolidated organization.
Ed Daniels, President and Chief Operating Officer of Prime Source stated that the new organization will be a stronger company with more diverse market expertise. Daniels who holds the same position for Prime Source, Inc. of Atlanta, GA will continue as Chief Operating Officer for the consolidated operation. He also announced that he would oversee the process of assisting any affected employees in finding new positions.
Thom McCaffrey, CEO of OPC and Joe Whalen, CEO of Prime Source in a joint statement have indicated that although no precise timetable has been established, the consolidation is expected to be completed in less than three months. Whalen stated that this move will have no major impact on customers of Prime Source’s joint operations, but it will bring significant new capabilities for serving OPC’s current clientele.
Additional announcements regarding more specific details will be made in the coming weeks.
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