Opus forms alliance with UK printers, eyes North America

Friday 25th March 2011

Opus Print Group, which is seen as a potential NZX listing, has formed alliances with two British printers and is signalling one in North America.

The two companies are Hobbs the Printers and MPG Books Group (UK). Hobbs is experienced in the educational, legal and scientific, technical and medical publishing markets and MPG is a specialised book and journal manufacturer.

Opus chief executive Cliff Brigstocke said the alliances confirmed the group's development strategy, which was outlined in a recent presentation organised by sharemarket operator NZX.

Opus, which is majority owned by a private equity fund, is seen as a potential top 50 company on the NZX if it floats.

Opus said negotiations were advanced on a strategic alliance in North America and it expected to make an announcement in the near future.

"When combined with our existing China partner, Hung Hing, this will round out our global capability, unmatched in our specialist markets," Brigstocke said.

A presentation by Opus at the NZX investor day in Wellington this month indicated the company had revenues of more than $100 million and an operating profit of about $27 million last year.

NZPA

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