Norwood Promotional Products, Inc. has filed the necessary paperwork in court to facilitate the sale of its operations to Aurora Resurgence, a California-based investment firm. Paul Lage, CEO of Norwood, expects the sale to be completed by the end of June. In response - Quality Logo Products, a top distributor of Norwood brand products, has expanded their customer service operations in order to accommodate increasing demand.
Aurora, IL | May 15, 2009 - Norwood Promotional Products, Inc. has announced a well-planned effort to deleverage its operations, making the company stronger going forward. The first part of this plan is an agreement to sell their operations to Aurora Resurgence, a California-based investment firm.
Norwood CEO Paul Lage says "This sale will result in a stronger, more flexible (Norwood). It's a major step to cementing the Company's stature atop the industry."
While this announcement may have come as a surprise to some, it is important to note that Norwood will continue to accept and fulfill orders and its current management structure will remain in place even after the sale. According to the company's website, it has received a tremendous amount of support and well wishes from customers since breaking the news. "It has been inspiring to see the support from our friends and partners," Lage says. "We won't let you down and we will remember all of the people that supported us through this process - that is a promise."
In response to the news, Quality Logo Products, a top distributor of Norwood, has extended their customer service hours from 7:00 a.m. to 6:00 p.m CST and expanded their sales department to accommodate the increasing demand. Quality Logo Products continues to carry the complete line of Norwood products.
The news about Norwood comes shortly after the Advertising Specialty Institute (ASI) released the results of their first quarter survey that stated overall advertising specialties sales are down 17.6% in 2009 compared to the same period in 2008. Despite this, Quality Logo Products and Norwood both continue to make money. In fact, Quality Logo Products has actually witnessed an increase in order volume in 2009.
Quality Logo Products, Inc. is a leading distributor of promotional products nationwide. They help companies promote themselves by adding their names, logos, or slogans to a variety of over 20,000 different promotional items such as custom stress balls, can coozies, and personalized tote bags.
Norwood Promotional Products is an industry leading supplier of imprinted promotional products. The company offers nearly 5,000 products and is a market leader in several of the industry's major product categories.
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