We announced today that we’ve signed a letter of intent to sell our Fort Worth, Texas, operations to Business Ink, Company of Austin, Texas. The Fort Worth facility was part of our acquisition of the U.S. operations of Transcontinental Direct earlier this month which provides IWCO Direct with a national footprint.
We are in the process of creating an enhanced coast-to-coast platform which will offer customers unique competitive advantages in their direct marketing including the best net postage costs available. As we were evaluating how to best integrate our new facilities in California, Texas and Pennsylvania into this platform, Business Ink approached us about buying the Texas operations.
Given the size of the Fort Worth facility and its existing equipment and technology platform, it is not feasible to build out our total package approach there. We concluded it is more cost effective to serve the Midwest and Texas from our Minnesota facilities.
We are pleased with this solution that takes advantage of the existing infrastructure in Fort Worth. Depending on customer needs, Fort Worth will continue to serve some of the Texas customers and others will be working with our Minnesota facilities. The Mail-Gard critical communications recovery services in Texas will move to Minnesota and will be expanded to support future growth. I know that the highly skilled staff in both states will be working with dedication and focus to help customers achieve the best possible results.
Thank you for all of your support. These are exciting times for direct marketers. We are looking forward to sharing more about our new platform in the weeks to come.
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