Business Management - Operations
Verso announced the sale of two of its mills to Pixelle Specialty Solutions for $400 million. The sale is anticipated to be completed in the first quarter of 2020, and its net cash proceeds are anticipated to be approximately $336 million. Verso also announced that Adam St. John has been named CEO.
The former EFI executive will be primarily responsible for the development of a powerful new event initiative that will launch next year.
Canon and Océ Holding B.V. announced the change of Canon Group Océ to Canon Production Printing. The change of the company name comes into effect as of January 1, 2020. Océ will continue to develop its core technologies and grow its market share as Canon Production Printing.
GPO is modernizing its publishing system, beginning to publish the 2018 main edition of the United State Code through XPub, the agency's new XML-based publishing technology. This is the GPO's first large-scale job on its new composition system.
EFI appointed Grant Fitz to CFO, replacing Marc Olin, who assumed the role of COO. Fitz brings nearly 30 years of financial and operational experience, formerly serving as CFO at Valassis and Xerox, where he also served as corporate VP.