The new management team at Dalkeith-based Charles Letts has detailed its plans for the future, which include extending its focus to complementary electronic diaries.


Managing director Gordon Presly and financial director Gordon Raw, who led the 12.25m MBO of the 204 year-old diary printer, had been in exclusive talks with Bemrose since May. The deal was financed by Dunedin Capital Partners and the Bank of Scotland.


Presly said that the new company, Charles Letts ltd, would incorporate e-diaries in its range including the Letts eCalendar Companion, a CD-ROM compatible with Psion and Palm Pilot electronic organisers which allows users to download dates.


"Letts is a superb brand which is globally recognised. Printed diaries will still be our core business but well extend the brand into electronic forms," said Presly.


It was reported that Bemrose, which will formally trade as 4imprint from Monday 21 August, had taken an exceptional loss of 21m on the company that it purchased in 1996 for 24m. However, Bemrose financial director Richard Harrison said 17m of this had been previously written off.
Harrison said of the sale: "It feels like the end of an era. Print is where most of us at Bemrose started. But we cant let sentiment rule our decisions."


Story by John Davies