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Jun 23, 2011 12:00 AM
Mohawk Fine Papers Inc. has signed a non-binding letter of intent to buy the business of Bravo Solutions Inc. of Elmira, NY. Bravo is a supplier of specialty synthetic and paper substrates for digital printing. The acquisition will include all brands and certain assets, including manufacturing capacity for converted products, which will remain in Elmira.
Bravo substrates are designed and engineered for toner and wet-ink printing systems. Mohawk plans to fully integrate the Bravo portfolio, including pressure-sensitive, synthetic substrates, integrated products, embedded card sheets and magnetic materials, into the existing Mohawk digital product offering.
According to Thomas D. O’Connor Jr., Mohawk’s chairman and CEO, “An acquisition of Bravo will be a strategic opportunity for Mohawk and its customers. We are committed to expanding our offerings to the growing digital print market. These premium substrates represent high value, high volume opportunities for printers, merchants and their customers.”
Following the acquisition, Ray Mahar, founder of Bravo, will join Mohawk as director of sales, digital specialty substrates. In this new position, Mahar will be responsible for business development and sales for the current Bravo line and an expanded portfolio being developed by Mohawk.
The companies are working together to agree on definitive purchase documentation to smoothly transition sales of all products to Mohawk by early third quarter.