parrallel to USB converter

Hello, I was wondering if the following concept would be possible with an arduino, and if so, if and someone has already done it. My job has old control units have a 25-pin parallel centronics printer output. We use this to print a systems report (only about 100 characters or less) I want to be able to "print" a .txt file to a USB flash drive instead of using an old printer.

In the past we have used this unit to do the job: http://www.ipcas.com/products/centronics-parallel-to-usb-printer.html It works great, but we need more, and each unit costs $600

There are many converters on the market that go from USB to parallel, but very few that go from parallel to USB.

Could I do this with an arduino? I would need multiple inputs, then store the data, then have the arduino convert it to serial format, then output it to a usb socket, right? How much programming (that hasn't already been figured out) be required? Any help would be greatly appreciated!

See http://forum.arduino.cc/index.php?topic=107996.0