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Vertis announces sale of prepress packaging assets to SGS International

Switzerland-based SGS International announced an agreement following the purchase of additional prepress packaging equipment, data files and related assets from Vertis.

The sale will allow Vertis to strengthen its overall liquidity position and further invest in its core direct marketing, advertising inserts and format businesses.

Vertis CEO Gerald Sokol Jr said that Vertis exceeded the consolidated year-to-date EBITDA projections by more than 60% as of 31July 2012, driven by a series of successful operational advancements and increased client volumes.

"Building on these achievements and bolstered by the additional liquidity infusion we received as a result of our decision to exit our prepress packaging business, we continue to take steps to position our businesses for ongoing growth and success," Sokol Jr said.

Vertis expects to immediately invest in a new EFI GS 5000 printer, which will expand its format capacity to meet clients growing demand for these products, along with HP and Kodak ink jet heads for their direct marketing business.

SGS International is a global provider in the digital imaging industry. It offers design-to-print graphic services to the international consumer products packaging industry primarily in North America, Europe and Asia.