Mystery surrounds Michael Wu

Mystery surrounds Michael Wu
Rumours abound on Michael Wu’s alleged exit from Docklands Ability Group a year after mega merger.

The Melbourne print industry is awash with rumours that Michael Wu has stepped down from Docklands Ability Group only a year after a cluster of Melbourne businesses including his Ability Press, Docklands Press and Mercedes Waratah formed a mega merger.

According to multiple industry insiders Wu is no longer at the business, which was formed from Ability, Docklands, Mercedes Waratah and M&M Binders.

ProPrint has been unable to reach Wu, nor his partner Moody Aboughattas. Wu has been one of the most ambitious printers in the country in recent years, buying On Demand 18 months ago, driving the mega merger last year, and then buying wide format operation Longbeach six months ago.

The merger was touted as one of the biggest in Australia after Docklands owner Moody Aboughattas and Wu formed Docklands Ability Group (DAG) following a deal in July last year which included by Mercedes Waratah from the Todisco family.

Rumours involving significant offshore investment from Chinese shareholders have also reached ProPrint however none have been confirmed.

Ability and Docklands Press bought Mercedes Waratah and M&M Binders from the Todisco Family in July last year and soon moved into its Port Melbourne facility.

More updates to follow as information becomes available.

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