UK managing director Peter Palframan said the 6.3m purchase of The Bath Press site on the Lower Bristol Road meant the group could relocate "on our own terms". "Our plans havent changed, theyve just gone out slightly," he added.

The leasehold of the site stated that the firm would need to give notice in February 2003 if it intended to move out. "We dont want to be driven by that. We want to be in control for our own destiny," he said.

CPI revealed its intention in 2000 to move The Bath Press along with short-run arm Bookcraft, based in Midsomer Norton, to a new greenfield site, dubbed Printcity.

At that point the move had been slated for February 2003, but Palframan said it was now unlikely to go ahead in the short term. "This will push the timescale out by a number of years," he said.

The acquisition will save the group 1m a year in rent. "When the opportunity came up to buy it was too big to miss," Palframan said.

In March the group spend 1.3m on the freehold of its Reading site.

Story by Lauretta Roberts