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Dayton-based company could be sold
Thursday, April 12, 2007
DAYTON — Day International Inc., a worldwide producer and seller of printing blankets, pressroom chemicals and pre-inked rolls, said Thursday that it is in negotiations to sell itself to the Flint Group, based in Luxembourg.
Day International said there is no guarantee that a sale agreement will be reached. Any proposed transaction would be subject to regulatory approvals.
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Both sides said they will not make further public statements unless either an agreement is reached or the discussions have been ended. They did not say how long the negotiations have been going on.
Day International, founded in 1905, has production, sales and distribution operations in North America, Latin America, Europe and the Asia-Pacific region. It has about 1,500 employees.
Flint Group is a privately owned supplier to the printing and colorant industries, providing printing inks, printing plates and pigments. The company had revenues of $2.7 billion in 2006 and employs about 7,000 people. It was formed in 2005 by the union of XSYS Print Solutions and Flint Ink Corp.
Day International, also privately owned, began in 1905 as the Dayton Rubber Co., making garden hoses and fruit jar sealing rings. In 1910, it changed its name to the Dayton Tire & Rubber Co. after emerging as a producer of tires and automotive components. It began making offset printing blankets in 1945.
In 1960, it took the name Dayco Corp. and sold the auto tire business to Firestone Tire & Rubber. The company became Day International in 1986 when it sold the Dayco name and its automotive hose and belt business.
It was owned by M.A. Hanna Co. from 1987 to 1995. Since 1997, Day International has expanded its product line with four acquisitions of other companies.
