Smooth Successions (CONT’D FROM PAGE 30)
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ulated that family members must start working for the family business by age 30 or sell their shares. Cohen’s half-brother, who is 16 years younger, whizzed in just prior to that deadline at the age of 29. Indeed, the devil is in the details. Prisciotta said family business need to make sure their legal documents address
THE HAIRE GROUP www.hairegroup.com
Haire Group is the premier provider of new machinery for the corrugated industry. From the Apstar line of flexo folder gluers and rotary die cutters, the Encore line of flexo folder gluers and rotary die cutters, and the Engico flexo folder glu- er, Haire is able to pair clients with the best machinery solu- tions for the best value to meet their needs. Haire Group’s service department helps its customers maximize uptime and profitability through superior 24/7 service and support, a pre-install training center, and over a million dollars’ worth of spare parts at their offices just outside of Chicago. Haire Group has been the industry’s #1 pre-owned machinery bro- ker and plant equipment appraiser since 1976. HarperLove is the leading provider of specialty adhesives, performance additives, and wet-strength resins to corru- gated packaging manufacturers. With the largest and most experienced field service and technical support team posi- tioned throughout the U.S. and Latin America, HarperLove has a long-standing reputation for providing outstanding service and delivering demonstrable performance improve- ments. HarperLove’s renowned services include not only innovative product development and custom product for- mulation, but also machine and process assessments, ad- hesive formula adjustments, machine tuning, detailed ser- vice reporting, and more. HARPERLOVE www.HarperLove.com Kernic Systems has been a leading global provider of re- cycling equipment solutions since 1978. For over 40 years, Kernic Systems has provided balers, air conveying and dust collection systems, shredders, industrial vacuums, and re- cycling equipment to a wide range of markets. Today, Ker- nic Systems serves customers with an expanded offering of standard products and custom-engineered systems through three primary business divisions: Recycling Solu- tions, Dust Collection and Air Pollution Control, and Material Handling. Kiwiplan provides state-of-the-art software solutions to cor- rugated, folding carton, plastics and flexible packaging fa- cilities around the globe. Kiwiplan’s Total Solution delivers comprehensive, seamless real-time flow of information from sales order management to dynamic total plant scheduling and inventory control through shipping. With deep manu- facturing and distribution expertise, Kiwiplan knows the specific problems customers face and provides the spe- cialized software they need to adapt, compete, and win in today's rapidly changing world. KERNIC SYSTEMS www.kernicsystems.com KIWIPLAN www.kiwiplan.com
these issues. “There’s so many times where I pick up shareholders agree- ments and wills that completely turn a blind eye to all these kinds of is- sues and it is so important because what we’re trying to promote is fami- ly harmony,” Prisciotta said. “We’re trying to promote not only the business succeeding but also
Dan Prisciotta
the family succeeding. And aside from taxes and things like that, the number one cause for a family business to fail, is a breakdown in trust and communication—trust and communication between the children and the parents and the breakdown in trust and communication among the sib- lings whether they’re in the business or not. That’s why it’s so important to have family meetings and ongoing com- munication.” Final Thoughts For those companies that have yet to start their suc-
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Consumers expect online product purchases to arrive in pristine condition. Retailers and E-tailers need to minimize costly returns. Shipping in corrugated boxes makes everyone happy. Corrugated
packaging combines structural rigidity with wavy flutes to cushion and protect contents from damage. Perfect for stacking, cubing,and meeting the needs of omni- channel distribution to delight consumers with joyful unboxing experiences. When it comes to protecting goods, corrugated delivers.
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May 12, 2025
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