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CTI LOGISTICS LIMITED Capital/Financing Update 2007
64663_rns_2007-09-19_d97107d7-a28b-46cc-87ab-9510b264a858.pdf
Capital/Financing Update
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ABN 69 008 778 925
328 Aberdeen Street West Perth WA 6005
Postal Address PO Box 400 West Perth Western Australia 6872 Telephone (08) 9227 6333
Facsimile (08) 9227 8000 Email [email protected] Web www.ctilogistics.com
20 September 2007
SALE OF BUSINESS
The directors of CTI Logistics Limited have accepted an offer from GEON Australia Pty Limited for the business of offset printing subsidiary Advance Press Pty Ltd.
Advance Press is one of Perth's leading off-set printers, scooping the pool with five gold medals at the recent PICA industry awards.
The business was founded in 1938. It was owned by Wesfarmers for many years, before becoming part of the CTI group twenty years ago. It will now become part of the GEON Group, a specialist offset printing group with twenty four sites throughout Australia and New Zealand, revenue of around \$400million and over 1,500 employees.
The purchase will be effective from 1 October 2007, and is expected to realise a profit in excess of \$4.5million.
David Mellor Secretary