An Auburn printing business will cut 20 jobs as a result of its purchase by a Syracuse-area company.

Finger Lakes Printing, located on Clark Street, will continue to operate in Auburn under the name FLP Group LLC, company official Gerry Mirabito Jr. confirmed Friday. However, the business will now be owned by KinaneCo Printing Systems, which is located in Solvay, Mirabito said.

Mirabito also confirmed that approximately 20 employees have been cut this week as part of the consolidation process.

“The purpose of the sale was to consolidate in these difficult economic times,” he said via phone. “We felt this was the best way the company could stay viable and to streamline.”

Founded in 1929, Finger Lakes Printing offers various printing and press services. KinaneCo offers similar services on a larger scale.

Mirabito said selling the company gives Finger Lakes Printing a chance to grow as part of a larger group and offer more diverse services.

“We're looking forward to strengthening our situation, and hopefully this will turn out to be a positive move,” he said.

The announcement was made as jobs are becoming harder to come by in Cayuga County. According to the most recent statistics by the state Department of Labor, the county's October unemployment rate of 5.6 percent marked a 13-year high for that month.

The unemployment rate in October 2007 was 3.8 percent, according to the Department of Labor, and the jobless rate in September of this year was 5.7 percent.