3M, parent company of Top 40 supplier 3M/Promotional Markets (asi/91240), announced Monday that it completed the sale of substantially all of its Communication Markets Division to Corning Incorporated for approximately $870 million before closing and other adjustments. The business includes 3M’s optical and copper passive connectivity solutions for the telecommunications industry, and does not impact the status of the company’s promotional products-related division, a company spokesperson told Counselor.
Cintas (asi/162167), a Top 40 distributor, was recently named to the prestigious Fortune 500 List for the first time. The list, compiled by Fortune magazine, ranks American companies by annual revenues. With total revenues of more than $5.4 billion, Cintas joined the list at number 500. Cintas’ estimated North American promotional product revenue for 2016 was $163.3 million.
Crown Products (asi/47700) and Vitronic (asi/93990), which are under the umbrella of Top 40 supplier IMAGEN Brands, were awarded the 2017 Most Valuable Partner Award from Proforma Albrecht & Co. (asi/116308). Rory Campbell, National Accounts Manager, accepted the award on behalf of IMAGEN Brands at the Proforma Albrecht & Co. Sales Achievement Awards Celebration in Denver, CO, on May 8th. Campbell was also awarded Outstanding MVP Partner Rep of the Year.
InnerWorkings (asi/168860), a Top 40 distributor, postponed its 2018 annual meeting of stockholders that was originally scheduled for May 31. The annual meeting was postponed because the company is in the process of restating its historical financial statements and requires additional time to complete the process. The meeting is expected to be held this month.
Same Day Tees (asi/466828) has moved into a new 18,000-square-foot headquarters, more than doubling its business space. The move comes amid increasing sales for the Frankfort, IL-based company, which has also added new state-of-the-art equipment to its arsenal, empowering Same Day to offer a wider range of creative solutions. Additionally, Same Day Tees has increased staff to 35 employees during the busy seasons.
Post-Up Stand (asi/79052) has introduced the LUX, an LED backlit SEG pop-up display featuring a tool-free design.
Proforma (asi/300094) has announced that it’s received three 2018 American Inhouse Design Awards from Graphic Design USA. The awards were given for: Proforma’s “What’s Your Story” lenticular postcards; the layout and design of its catalog; and the design of its e-newsletter campaign.