Business News
APS GROUP BUYS PHILIP MYERS PRESS
Friday 18. September 2009 - APS Group has bought the business and assets of Philip Myers Press (Holdings) Ltd in a deal that will enable PMP to continue trading - and secure its long-term prospects.
Concerns over the future of the Warrington-based company were heightened last week after administrators Zolfo Cooper Europe were called in.
But in an agreement signed yesterday afternoon (15 September) APS, operating from headquarters in Cheadle Heath, Cheshire, has pledged financial commitment to support the business of Philip Myers with its customers now being assured its business as usual.
Administrator, Graham Wild, said: “We are delighted to announce that we have completed the sale of the business and assets of Philip Myers to APS Group. We would like to thank all employees, customers and suppliers for their support during the Administration and wish APS every success for the future.”
APS has enjoyed a long standing relationship with Philip Myers since 2003 and natural synergy has developed between the two over the years. Both companies share the same values and principles of openness, honesty and professionalism.
APS Managing Director, Nick Snelson, said: “We recognise the quality and the capability of this important supply chain partner. In these difficult and challenging times, it makes good business sense for organisations to come together in order to be able to develop new and value-added opportunities for all our customers.
“There is a good fit between our two companies and I have every confidence that the combined strengths of the service offering will add significant value for customers in the future. Philip Myers is highly regarded in the market as a quality operation with an excellent workforce that will bring additional strengths to the APS team.”
Kim Naylor, Managing Director of Philip Myers, added: “It has been an apprehensive time for everyone involved with the company, our employees, our customers and our suppliers and I am delighted that negotiations with APS have been concluded successfully.
“APS is a financially strong company with a good track record of winning new accounts and retaining existing ones which can give us confidence in the future.