GEON Group Acquires Promentum For $127 million

MEDIA RELEASE

GEON Group Acquires Promentum For $127 million

- Accelerates consolidation and broadens services in
the trans-Tasman print market -

Sydney, 2 May, 2007: The GEON Group today announced it had completed its acquisition of Promentum, in a transaction valued at A$127 million.

The acquisition, which is a significant milestone in the consolidation of the trans-Tasman print and print services industry, brings GEON Group’s revenues to A$400 million with more than 1,500 employees located throughout Australia and New Zealand.

Gordon Towell, GEON’s Group Chief Executive, said the Promentum business was an excellent fit with GEON’s existing operations and would strengthen the Group’s position as a leading participant in the market.

“This acquisition is a key step in our strategy of dramatically modernising and enhancing the way we provide services to our customers on both sides of the Tasman,” Mr Towell said.

“Promentum’s expertise and extensive customer base within the medium-to-large enterprise space complements GEON’s established stronghold among independent printing, media, and publishing businesses, as well as within the SME market.

“We believe the combined business brings together some of the best people in the industry and gives us the capacity and flexibility to provide an enhanced range of services to our customers.

“The enhanced scale of the Group provides an opportunity for us to invest in further upgrades to our management information systems, and importantly allows us to deliver further cost savings across our customer base,” he said.

Following the acquisition, Penfold Buscombe, Scanlon Printing and Octane Digital, will continue to operate providing services under the GEON brand.

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