Cadmus Communications Corp., Richmond, VA, has sold its Cadmus Direct Marketing (CDM) division to Hawkeye Communications, a privately owned marketing company. Terms of the transaction were not disclosed.
Cadmus indicated that it expects to realize a gain from the transaction in the first fiscal quarter. This gain will offset one-time charges related to the previously announced consolidation of the company’s Richmond-based CadmusCom marketing agency into its Atlanta-based agency. Proceeds from the transaction will be used to reduce corporate debt.
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