When Wyndeham’s parent Walstead Investments acquired St Ives’ web division last March, it established short-term one-year leases for the Roche and Plymouth factories in the south west, in addition to a 10-year lease at Peterborough.
With the anniversary of the deal approaching, the £153m turnover group has indicated a longer-term commitment to the Roche facility by agreeing a fresh lease deal. "We’ve extended it for 10 years from the date we bought it, with a four-year break clause," explained chief executive Paul Utting.
The Plymouth plant, which was slated for closure last summer, continues to operate as a flexible production facility for the time being at least. "We are carrying on at Plymouth on a short-term basis, with a lease that gives six months’ notice each way," Utting added.
He also said that the Southernprint factory in Poole, which operates from premises that are leased from its former owner Newsquest, had now "stabilised".
Utting reported that he had noticed customers were buying "more strategically" in the face of further potential changes to the web offset supplier landscape.
"A year of uncertainty started last year and continues into 2012," he said. "Buyers have some real concerns over continuity of supply and we are entering into more longer-term arrangements. People want to buy more strategically in order to secure space."
Tweet