MCCALL WILL ACQUIRE SAFRAN PRINTING CO. FOR ABOUT $15.6 MILLION

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP73-00475R000401970001-6
• Release Decision: RIPPUB
• Original Classification: K
• Document Page Count: 1
• Document Creation Date: December 27, 2016
• Document Release Date: December 19, 2013
• Sequence Number: 1
• Publication Date: March 16, 1966
• Content Type: OPEN SOURCE

3TAT TV ? .
Declassified in Part - Sanitized Copy Approved for Release 50-Yr 2013/12/19 : CIA-RDP73-00475R000401970001-6
JOURNAL
MAR 1 6 Mf3
?
McCall Will Acquire ? I
ifF Printing Co.
?
.For About $15.6 Million
Directors . of Both Firms, Safran
, Holders Must Approve; McCall
To Pay $28 Per Safran Share
By a WA 1..7, sTn rr,...r JOURNAL. S/ off Repart Cr '
DETROIT?McCall Corp. plans to acquire
Safran Printing. Co., Detroit, for about $15.6
million, the two companies said. The acquisi-
tion is subject to approval by directors of both
companies and Safra.n's stockholders..
Under the proposal, McCall will pay .$28 for
each share of Safran eco?znion stock. In re-
cent trading (over the counter) Safran stock
has been quoted at $18.50 bid and $19.25 asked.
Safran has 556,872 shares outstanding.
About 70% of .the Detroit company's busi-
ness is in printing magazines, trade publica-
tions, catalogs, newspaper supplements and
direct mail material.. The other 30% conies
from printing business forms.
Safran was one of the pioneers' in 1958- in;
the development of newspaper color inserts.
More recently the company has successfully
produced SpectaColor inserts by the web offset
process, which makes possible color picture
quality on newsprint that is comparable to
slick magazine color printing.
McCall Corp. publishes McCalls, Saturday
Review and Redbook magazine and other
magazines and books. It also provides print-
ing, engraving and ,subscription serviees and
manufactures McCalls dress patterns.
? In a recent interview, SafrarCs president,
?
Hyman- Safran, estimated. that company' a
_earnings rose in .the year ended Feb. 28 to
$925,000 to s950,000, or between $1.65 and $1.70
a share, from $896,286, or $1.56 a share, a
year before. He said sales rose to between
813.800,000 and $13,900,000 from $12,253,253.,
The executive forecast sales in fiscal 1967 of.
about $15,000,000 and profit that .'.'might reach
$2 a share." ?
Earnings in fiscal 1966, he said, were helc.'
down by. expenses incurred in the first stage'
of installation and testing of the SpectaColor
process. He said 14 test runs with the process
were completed at four daily newspapers in
Michigan and Wisconsin. "Costs of installa-.
don and testing of SpectaColor ran between
5 and 10 cents a share, but we've got the
bulk of our expenses behind us in this area,"
Mr. Safran added.
? The Detroit News, Detroit Free
Pontiac Press and MilWatikee Sentinel were'
included in the test program.
About a third ? of - the nation's newspaper
circulation is capable of handling SpectaColor,
he stated. 'Now ? we consider our market for
SpectaColor to include the entire country east
of the Mississippi."
' .
narlaccifiRci in Part - Sanitized Copy Approved for Release @ 50-Yr 2013/12/19: CIA-RDP73-00475R000401970001-6