Polyfibron Technologies Inc. has signed a letter of intent with Lee Enterprises Inc. to purchase NAPP Systems Inc., Lee's graphic-arts products subsidiary, for $55 million. The transaction, subject to regulatory approval, is expected to close by year end.
Polyfibron was founded in 1994 to acquire the printing products business of W.R. Grace Co. Headquartered in Billerica, Mass., with nearly 1,000 employees in 12 countries, Polyfibron manufactures offset printing blankets, photopolymer plates and textile blankets.
NAPP, based in San Marco, Calif., manufactures and distributes photopolymer printing plates and plate-processing systems. Lee Enterprises, in Davenport, Iowa, publishes 19 dailies and 40 weekly and specialty publications, and operates nine full-service network-affiliated TV stations and seven satellite TV stations.
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