www.oakvillebeaver.com The Oakville Beaver, Friday August 11, 2006 - 25 Engraving business went up for auction By Angela Blackburn OAKVILLE BEAVER STAFF Going once, going twice, sold! to the Internet bidder were the words and fate of the proof press, engraver and smaller machine shop tools of long-time Third Line business Pannell Gravure Services Ltd. last spring. However the property, which was also hoped to be sold to the highest Internet bidder, remains on the market. Last May, Gordon and Vicki Pannell put their assets and property on the auction block. Gordon, 77, felt it was time to throw in the towel after 40 years in business. His company was one of four gravure companies still operating in Canada. Some items auctioned off were an engraver, that sold for $21,000 to an anonymous American Internet bidder. That same bidder also purchased a proof press, at a bid of $31,500. Other machinery and tools were auctioned off, ranging in price from $1,000, to $5,000, by local auctioneer, appraisal and liquidating company Global Assets Solutions Inc. However the main item up for auction was the Pannell property -- an 8,660 sq. ft. warehouse located at 615 Third Line. There were four bidders interested and the highest bid was $700,500, but owners Gordon and Vicki declined the offer. The property is now up for sale through Cushman & Wakefield LePage Inc. in Mississauga. The asking price is $975,000 for the property described as a commercial, freestanding building with main street exposure. Next to a bank and coffee shop, its permitted uses include automotive, retail, restaurant, office, non-profit club, and private education. Pannell founded, then nurtured his business for 40 years and admitted it was tough to step away. "Letting go is the hardest thing," said the long-time Oakville businessman who lives in Mississauga. After much soul searching, Pannell decided to let go of Pannell Gravure Services Ltd. last year. "I got tired of the responsibility. When you run a company, people are always wanting your attention, expecting you to make everything right for them," said Pannell. At 77, he's also been battling a blood disease -- a challenge unfamiliar to a guy who at age 70 went skiing in Argentina to fulfill a lifelong dream; who at 72 skated the Ottawa Marathon in his best time ever (two hours, two minutes, 31 seconds); and who was the oldest player in the Scarborough Oldtimers' hockey league at age 70. Once Pannell had made the tough decision, he wound up Pannell Gravure Services Ltd. last January and began preparations for auction. Gravure printing by hand started in China in 100 A.D. In the 16th century chemical etching was invented and electronic engraving started in the 1960s. Pannell's company specialized in the electronic engraving of rotogravure cylin- mouth. Pannell recalls he worked hard, rolled up his sleeves and was good at what he did. Technology has replaced a lot in the industry that used to be done by hand. "All the black magic I was teaching to people has all been replaced by technology," he said. The long-time businessman said the money was always good in such a specialized trade -- he said there were times he made weekly what others made annually. Today, Pannell has three grown children with Vicki, and the couple is heading into retirement with thoughts of finishing their basement, aand building a cottage industry by combining their talents. -- with files from Billy Canning We provide custom imprinted products and services for marketing and promotions, other graphic design services and specialty advertising products. LIESA KORTMANN / OAKVILLE BEAVER FOR SALE: Gord Pannell by his auction sign this spring. Now it's a For Sale sign. ders and their servicing. Most recently, Pannell was still found on the shop floor, but rather than working at his trade, he was dismantling, cataloguing, and decommissioning the business that was, part and parcel, equipment and property, put on the auction block. Still old habits die hard. "This is an engraving house," said Pannell. In his not-too-distant memory the machines were whirring, business was brisk and telephones were ringing. As Pannell pointed out some beams above, which he said he welded himself, he recalled how it took him 18 months to get the business up and running. "It's very specialized," he said. That's a big reason why Pannell headed into retirement having chosen the public auction route. According to Mike "Hoss" Bertrand of Global Assets Solutions who conducted the auction, Bertrand's company most often deals with such auctions in connection to liquidations. However for Pannell it was a choice. There aren't that many buyers otherwise -- Pannell's was among only four such businesses in Canada. "My wife Vicki and I are that last Ma and Pa operation in North America," said Pannell. The father of five grown children was born in Toronto, but none of his children want to carry on the business. Pannell said his mother's death when he was only 17 led to some school marks that didn't make the grade for his dream of a biochemistry career. That's when Pannell headed to his father who was a foreman at the Eaton's engraving operation and asked for a job. At 18, Pannell began a six-year apprenticeship with the Toronto Engravers' Union. Not long after, he was assigned to teach others -- and a journeyman had to be present to make it legal -- and not long after that Pannell and three other men founded a company called Roto-tone. "We made a horrendous amount of money though we worked like dogs, too," he said. Forty years ago however, Pannell said, "I took my money, did my homework and put $5,000 down on this garage." That's the Third Line property that is now up for sale. It grew from the 2,800 sq. ft. auto garage, office and paint shop that Pannell bought, to the 8,660 sq. ft. warehouse and office that he expanded and renovated. It was impossible to buy gravure equipment as there was none available. It had to be made or adapted, which Pannell did. It took 18 months of preparation before the doors could open for business. Pannell got a contract with Southam Murry to engrave gravure cylinders for Eaton's catalogue. Then Pannell began work for Sunworthy Wall Coverings and in the ensuing years engraved thousands of cylinders for the wall covering trade and similar types of work. Even packaging work, like beer labels, flour and coffee bags were done. Repair, de-chroming and re-chroming of cylinders were always the backbone of the company. In later years, proofing and colour matching were added. Over the years, Pannell admitted he experienced tough times, personally and in business, especially as big companies with what he called "deep, deep pockets" put a lot of smaller operations out of business. "We've been fighting them all this time," said Pannell extremely proud that his company had no sales representative, but thrived on its reputation via word of · your logo on your choice of product or gift at a low cost · over 3,000 products to choose from · local service, quick turnaround · low or no minimums WE PRINT ANYTHING ON EVERYTHING Call for a quote P: 905-337-2418 F: 905-842-0220 E: lori@infinteimpressions.ca www.infiniteimpressions.ca A ICAN BAY POO PL CUS O G OU OO S "Your Pool ...Our Reputation" FREE SAL T GENERATOR WITH EVERY INGROUND POOL EXTENDED TO AUGUST 14, 2006! 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