It is with sadness that I have learned Danny Follett, owner of Follett’s Trade Bindery in Toronto, is planning on selling or else closing his bindery. Danny has been running his company for over 35 years and was one of my suppliers when I was in the printing business. Danny said, “I’ve got a couple of offers to buy the company and if I can’t sell, I will close up and auction off the assets.” He says he can’t make money anymore, stating three reasons:
New players coming into the bindery industry that are cutting prices by up to 25%.
The rise of the Canadian dollar drying up business from the US.
The internet destroying the Annual Report business, which has been reduced to a quarter of what it was five years ago.
I hope that Danny will be able to successfully sell his business and that his 50 employees will be able to find work elsewhere in the industry.
US based xpedx, reported to be the largest paper merchant in North America, has announced it will open two more facilities in the Toronto area. Its new headquarters will be located in Brampton, Ontario and will have a 150 000 square foot distribution centre as well as an xpedx paper and graphic store. Another 10 000 square foot paper and graphic store will also open in Markham. These two locations will employ 60 to 70 people. The company plans to open more locations across Canada in the next few years.
The first annual CPISC forum was held in Toronto in the middle of June. It was very well attended. Please read our report by Tony Curcio on page 22.
On a lighter note, last year about this time we were watching the World Cup. This year, in six different cities, Canada will host the FIFA under 20 World Cup. You should try to make it out to one of these games. With over one million tickets sold it’s bound to be a talked about event. If you can’t get to a live game be sure to check it out on TV—CBC will be covering all the events.
It is summer time now, so as the industry slows down, take the opportunity to give yourself a break. I’ve seen too many people in this industry proclaim that they “just can’t afford to take holidays.” Plan to take a break and come back from the summer feeling revived.
Until next time, stay positive and stay focused.