Montrose Press managing director Rick Child said that Schofield’s fellow board members for the as yet unnamed company were still being assembled. Schofield has also been managing director at Wiltshire, the Bristol-based web printer, and Normanton’s Acorn Web Offset.
“This is a completely new company and it will have a new management team,” said Child. Incumbent Hyway managing director Alan Jones will stay on for a 12-week hand-over period.
Child praised Hyway’s environmental expertise, high print quality and client base, and said there were no plans for further redundancies or to relocate the companies to one site.
Child said there were “a lot of synergies” between Hyway and Chelmsford-based Montrose. “To be honest, Hyway doesn’t need a lot of turning around,” he added. “The receiver made some cost savings and that appears to have been enough.”
The £16m-turnover Hyway was placed into administration with RSM Robson Rhodes after Trade Indemnity withdrew cover (PrintWeek, 19 July). The administrators then made 17 redundancies.
Montrose Press was formed in March this year when a management team, fronted by Child, bought the assets of Chelmsford-based Clifford Thames.
Story by John Davies
