In August 2015, Taylor Corp. completed its acquisition of the assets of Standard Register Co.
The newly combined company at the time of Taylor’s acquisition had more than 12,000 employees working in more than 80 companies with operations in 32 states and nine countries.
"Taylor Corp. is proud to announce the formation of a new subsidiary, Taylor Communications, Inc., under which Standard Register will now go to market as Taylor Communications and Taylor Healthcare," Deb Taylor, Taylor Communications Inc. chief executive, said in a letter on the web site.
She added: “This decision was made after carefully considering Standard Register’s 103-year history in our industry. We are very proud to have this organization as a part of our family of companies. We believe this change more clearly states who we are and our ability to offer some of the most expansive set of products and services in the industry.
“In the coming months, you will begin to see outward changes,” she added. “But you can expect our focus will continue to be on excellence as usual.”
The company’s Twitter account handle has also been changed, to “@Taylor_Comm.”
About a year ago, Standard Register sought Chapter 11 bankruptcy protection. That filing came after the company’s acquisition of local rival WorkflowOne, which began in late 2013.
Total costs of the restructuring tied to the WorkflowOne acquisition were to reach about $30.4 million, the company said at the time.
But the company had also been hampered by years of declining sales, the cost of sales, labor, rent, freight, and supply chain expenses and more.
In May 2013, Standard Register attempted something troubled companies sometimes attempt: A reverse stock split. Every five shares of Standard Register’s common and class A stock were converted to one share, reducing the number of outstanding shares and raising the value of each individual share.
The effect was immediate — and temporary. Shares closed at 71 cents one day and were trading at $3.25 the next afternoon.
By July 2014, however, the NYSE warned Standard Register — for the second time since 2012 — that its share values were low enough to risk possible de-listing from the exchange.
A message was left Tuesday with Taylor Corp.’s North Mankato Minn. headquarters office.
Standard Register was founded in 1912. At the time Taylor acquired it, it had 3,500 workers, including about 850 in Dayton.
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