Keldia Printings administrators have agreed a price with Masterspeed, a subsidiary of Alito Color, for the business of the Walthamstow commercial printer but contracts hadnt been signed before PrintWeek went to press.
Joint administrator Andrew Andronikou has called a meeting of Keldias creditors committee for next Wednesday (14 November), where he will present the deal.
Alito chairman Terry Brady won the race after Thomas Potts decided not to submit a bid.
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"It's wrong to assume the Chinese are behind the curve on automation - it used to be the case that manual processes were kept becuase it was cheaper to use them than buy the automated equipment,..."
"Incredible, what a business!"
"Sad news. Their prices were unsustainable - it was a race to the bottom."
