Bantam Press has today published the new Danielle Steel bestseller, Big Girl, printed and bound at CPI Mackays.

Editorial Director Linda Evans visited the Chatham site with colleagues from Transworld’s editorial and production departments to see the 336 page hardback being produced. She said; “We all had a fascinating day at Mackays, and it was a great thrill to see the new Danielle Steel rolling off the presses.”

The jacket was produced at CPI White Quill, with a clever use of embossing combined with spot UV varnish to give the illusion of sugar crystals.

Danielle Steel is one of the world’s most popular and highly acclaimed authors, with eighty international bestselling novels in print and 600 million copies sold.

Pictured are Linda Evans, Simon Thorogood, Geraldine Ellison, Jo Williamson and Katrina Whone.

CPI White Quill has been delighted by the enthusiastic response from publishers to the launch of their new cover finish, SuperMatt. Among the first publishers to take up the innovative lamination are Granta Books.

Everything Ravaged, Everything Burned

Granta Books have chosen SuperMatt for their updated cover design of Wells Tower’s Everything Ravaged, Everything Burned.

The new cover design uses a palette of fiery oranges and a rich black which would have been dulled by conventional matt lamination. SuperMatt has enabled the glowing colours to keep their vibrancy and the black to remain intense. The tactile new lamination has also given the book a curious, premium feel.

Sarah Wasley, Production Director at Granta/Portobello Books, said; “We haven’t stopped stroking the book since it arrived!”

CPI White Quill has been working with film manufacturers on both sides of the Atlantic to bring SuperMatt to the UK publishing market. Since the launch of the innovative finish in January, SuperMatt has generated a remarkable response from publishers.

Random House’s Jonathan Cape imprint will use SuperMatt on the new Ian McEwan title Solar, to be published on 18th March. Everything Ravaged, Everything Burned is published by Granta Books, with the new edition available from 1st April.

Samples of the new SuperMatt finish, showing the comparison with traditional matt lamination and also combined with spot UV varnish, are available from your CPI representative.

Alison Kaye has been appointed as Sales Director of the book division of CPI UK, with immediate effect. Alison, who had previously managed CPI’s digital and STMA division, will now, in addition, oversee CPI’s trade sales division. In this new role, Alison will co-ordinate the sales function across all CPI UK’s manufacturing sites, supporting publishers’ requirements from 1 to 1 million books. She reports directly to François Golicheff, CEO of CPI UK.

Alison Kaye

This appointment accompanies the recent announcement of Ian Smith as Chief Operating Officer for the Trade Division, operationally controlling CPI Mackays, CPI Cox & Wyman, CPI Bookmarque & CPI White Quill and Ralph Bell’s appointment as Chief Operating Officer for the Digital/STMA Division, operationally responsible for CPI Antony Rowe & CPI William Clowes.

Mike Austin, who previously held the role of Trade Sales Director, is appointed as Group Marketing Director for CPI UK and will also retain his responsibility for commercial print.

Commenting on her appointment, Alison Kaye said: “I’m delighted to be taking on the role of Group Sales Director for CPI Books. We are in a very challenging market, but I am absolutely confident our team has a unique offering for publishers, literally delivering one to one million books - and managing the entire life cycle.”

François Golicheff added: “These appointments, together with a commitment to invest over £22m in new equipment and services within the UK over the next three years, will ensure CPI is well positioned to meet the continuous challenges that face a fast-moving and demanding publishing environment.”

CPI has today announced a significant programme of capital investment – beginning with Cox and Wyman, its Reading-based paperback manufacturer.

The first phase of the investment is to be focused on increasing binding capacity at the site, to meet market demand. Plans for expanding production at Cox and Wyman have begun in earnest, with the immediate purchase of post-press section handling equipment. Two Civiemme automatic stackers will shortly be installed, at a cost of £500k.

François Golicheff, CEO (UK), said: “We are committed to increasing future capacity at Cox and Wyman. This is the first stage in a significant programme of investment – further plans will be unveiled in due course.”

Sandy Wieliczko, General Manager at CPI Cox and Wyman, commented: “The new equipment will better enable us to meet our customers’ demands for ever faster turnarounds. This investment gives us confidence in the future.”

Sandy Wieliczko, General Manager at CPI Cox and Wyman

The new purchases follow recent investment in pre-press at the Reading factory, which manufactures A and B format paperbacks. A full revamp of Workflow software has speeded up file handling, while a new Agfa Avalon N16-50 plating device (pictured) has tripled plate output.

The first title to be produced using the new platesetter was Philippa Gregory’s The White Queen, published by Simon & Schuster, with an initial print run of 170,000 copies.

CPI White Quill has launched a tactile new laminate for jackets and covers that feels like velvet.

The new finish, called SuperMatt, offers designers and publishers a number of benefits over conventional matt lamination.

The colour of the printed image beneath the film is not dulled, so blacks are truer and colours remain vibrant, meaning that SuperMatt books stand out on the bookseller’s shelf. Jackets and covers treated with the new laminate have a premium feel that’s very tactile, almost like rubber to the touch. SuperMatt also marks less easily than conventional laminate.

White Quill has been working with film manufacturers on both sides of the Atlantic to bring the exciting new finish to the UK publishing market. Random House are the first publishers to take up the new product; their Jonathan Cape imprint will use SuperMatt on the new Ian McEwan title Solar, to be published in March.

SuperMatt is used on the new Ian McEwan book, Solar

Neil Bradford, Production Director at Jonathan Cape, said; “CPI’s new lamination product has an ‘unputdownable’ feel and the vibrancy of the colour is impressive.”

Samples of the new finish, showing the comparison with traditional matt lamination and also combined with spot UV varnish, are available from your CPI representative.

François Golicheff has taken over as the new Chief Executive of CPI UK, promising the group will strive for excellence in everything it undertakes.

For the last 13 years, François Golicheff successfully led the European arm of Riso, the world leader in high-speed high volume digital print solutions.

François Golicheff, CEO UK

He replaces Mike Taylor, who becomes a technical and strategic advisor to the Company Chairman, after four years of leading CPI UK and 46 years in the printing industry.

The new CEO will complete the task of developing a management team and infrastructure that has enabled CPI to significantly improve its standing with publishers.

Ian Smith

As part of the management restructuring, Ian Smith, General Manager of CPI Mackays, has taken up the newly created post of Chief Operating Officer for the Trade Book Division. ”We are entering an exciting phase for CPI, and I am delighted to take up the role of Chief Operating Officer for the Trade Book Division”, Ian Smith said on his appointment. “I have an excellent management team and comprehensive investment plans that will ensure we are able to deliver an unrivalled service to our publishing customers.”

Ralph Bell has been appointed as the Chief Operating Officer for the UK Digital and STMA Division, incorporating CPI Antony Rowe and CPI William Clowes. Kevin Martin has been appointed Trade Sales Director.

Kevin Martin

Prolonged Arctic weather conditions over the UK posed problems for many this month, but CPI was able to use capacity across its three book manufacturing sites to minimise impact on deliveries.

The snow and ice were a challenge for manufacturing personnel travelling to work, for paper logistics and for finished book deliveries. But Ian Smith, Chief Operating Officer of the Book Division, set the objective of being no more than 24 hours late with any order during the extreme weather conditions.

The flexibility of using factories in three locations, coupled with increased capacity over the weekend, quickly enabled CPI to bring its schedule back to meet all delivery dates.

On November 10, CPI Firmin-Didot manufactured the first 2000 copies of “Au Pays des Pommes d’Argent” by Nancy Farmer, published by Gallimard Jeunesse.

This is the very first title printed on the new HP inkjet web press. This new equipment called Quantum and designed by CPI met all expectations. Quantum is the combination of the HP inkjet web press, the finishing module from Timsons and a Müller-Martini binding line.
This first release marks the beginning of industrial scale digital book printing with an in-line process from the paper reel to the bound book. Quantum replicates in the digital environment the successful Cameron process (end to end printing and binding).

“This title is a re-print of a book initially printed on Cameron and the binding and printing quality is perfect” said Jacqueline Faverger, head of production at Gallimard Jeunesse, who was present at Firmin-Didot for this premiere.

“The Quantum machine is particularly well adapted for short-run printing (first prints as well as re-prints) which is an ever growing demand from publishers. We are especially happy to make this major step with the publisher of Harry Potter in France. This also illustrates our ability and willingness to serve our clients from 1 to 1 million copies” added Frédéric Mériot, managing director of CPI France. In fact, while CPI Firmin-Didot was manufacturing 2000 copies of “Au Pays des Pommes d’Argent”, the Cameron presses at Bussière were busy reprinting tens of thousands copies of the last Prix Goncourt, France’s most prestigious literary prize.
Quantum perfectly fits with the existing industrial equipment at Firmin-Didot, which already has 3 Cameron presses and an OCE digital web press for very short runs. CPI clients will benefit from the best existing technologies at all run sizes.

CPI Firmin-Didot buys a digital web press for cover printing
The same week, the CPI team at Firmin-Didot started production on a new HP Indigo digital press. The factory of Mesnil-sur-l’Estrée now has its own printing capacity for covers, which assures quality and reactivity to our clients.

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Press contact: Anthony MORIN amorin@cpi-group.net

Pierre-François CATTE, Chairman of the Executive Board of CPI  announces a very important change in the UK company management structure.

After four years of leading the CPI UK organization and forty-six years in the printing industry, Mike TAYLOR ,CEO of CPI UK, has decided to distance himself from the day to day operations of the company and take up the position as technical and strategic advisor to the company chairman.

For both CPI and CPI UK, this is a defining moment.

In the last few years, after bringing the Fulmar Group to CPI, Mike has taken on, as a personal challenge, the development of a management team and infrastructure that has enabled us to significantly improve our standing with Book Publishers by striving for excellence in everything we undertake. While his task is not yet complete he believes this is the opportune moment to step back from day to day involvement in the business.

A company like CPI cannot afford to lose a leader like Mike without ensuring that we can still benefit from his knowledge, experience and enthusiasm for this industry.

Mike has agreed to continue to work with us to complete the initiatives he has started in technology, procurement and industrial restructuring, and then to support both the future CPI UK Chief Executive and the Company Chairman in the evaluation of future industry needs and the implementation of the solutions.

The transition will take place over the coming weeks and be managed between Mike and François Golicheff, his successor, who joins CPI UK after 13 years as CEO of Riso Europe, a graphics machinery manufacturer. It is my great pleasure to welcome François to our team.

It is an emotional moment for many people in the company, and we are delighted that Mike has agreed to maintain his links with the Company for several years to come and continue to support and guide the business in the future.

I personally want to thank Mike for his contribution to CPI in the last few years and for agreeing to remain a resource to us.

Pierre-François CATTE Chairman of the Executive Board

At the beginning of 2009, CPI notified its lenders of a breach of its financial covenants, established in September 2005 when the Group entered into an LBO.

The new agreement signed yesterday provides for:
- The exit of existing shareholders from the company’s share capital
- Lenders taking direct ownership of the company’s share capital and providing 30 million euros to finance CPI’s new development plan.

Moreover, CPI’s current management team invests in the company alongside the banks.

The main elements of this financial restructuring are :
- Current shareholders abandon all their debt and equity stakes in the company
- Total financial debt is reduced from 420 to 123 million euros, including senior debt revised downwards from 328 million to 123 million euros.
- Issuance of mandatory convertible bonds (ORA) for a total amount of 40 million euros to the benefit of senior lenders.
- Granting by some of the banks of the existing syndicate of a 30 million euros revolver credit facility.
- Access to a flexible leasing and factoring line of 27.5 million euros

Throughout the 6 month negotiation, discussions were conducted in a constructive and professional manner. Lenders and shareholders consistently demonstrated their desire to preserve the future of the company and have made significant financial sacrifices to that end.

Pierre-François Catté, CPI Chairman of the Executive Board, « is very happy with the spirit in which this transaction was realised, and with the ability of the company’s employees to remain focused on day-to-day operations and on maintaining customer satisfaction in a difficult environment. More than a year of work was needed to reach this agreement, providing the company the financial capacity to continue to innovate and improve the quality of our products and services offered customers ..»

Upon completion of this restructuring, the entire capital will be owned by the existing lenders. RBS will remain the agent of senior lenders.

In terms of corporate governance, CPI will have an independent supervisory board and an executive board. The supervisory board will consist of people from the book industry as well as industrial and marketing experts. The executive board will be chaired by Pierre-François Catté.

The lead advisors on the transaction were Lazard for the senior lenders, Houlihan Lokey for the company. Legal counsel to the company were Weil, Gotshal & Manges ; senior lenders were advised by Ashurst while the funds were represented by Willkie Farr & Gallagher and Latham & Watkins.

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