An administrator has been called in at Teldon Print Media after a brief but turbulent ride in the Australian print market. Formed in Sydney in 2002 by Canadian print entrepreneur, Volker Wagner, Teldon was seen by many to be the prototype of what should take place in a depressed and overcrowded Australian print economy.
In quick succession, Wagner scooped up J Bell & Co, Nadley Press and Printing Headquarters in October 2002, Bestway Berk in May 2003 and Bradlee, Luxton and Dunn the following month.
The purchases gave Teldon Print Media, the Australian arm of Teldon International, one of North America’s largest calendar printers, significant output capability in offset colour and colour stationery printing.
Wagner was expecting Teldon to generate turnover of some $12m per year, however, when it went into administration yesterday, the company is understood to have significant debts to its paper and other suppliers.
According to the Teldon administrator Ken Wittham, the process has only just begun to determine the full extent of the company’s debts.
However, Teldon is continuing to trade on “with the intention that they will find somebody to buy the company”.
