Product category:
Printing Companies: General Commercial
News Release from: Quebecor World
Edited by the Printingtalk Editorial
Team on 06 July 2004
Quebecor Takes Stock Of Its Book
Operations
Quebecor World is embarking on a significant reorganization of its U.S.book operations that it believes will improve customer service, maximise asset utilisation and increase efficiency.
Quebecor World is embarking on a significant reorganization of its U.S book operations that it believes will improve customer service, maximise asset utilisation and increase efficiency
This article was originally published on Printingtalk on 8 Sep 2004 at 8.00am (UK)
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Selected equipment from the company's Kingsport, Tennessee book facility will be decommissioned or re-deployed into existing locations.
The remaining assets in Kingsport will be refocused and specialised to better service the customer base.
Today's announcement is part of a long-term strategic plan that will include additional investments in new technologies specifically designed to meet the current and future needs of publishers.
Those investments together with increased specialisation, will allow Quebecor World to deliver industry-leading, top-quality service at all its book plants it believes.
The plan will result in a workforce reduction in Kingsport of approximately 450 jobs but the company also expects to create almost 280 new jobs at its other U.S.
book facilities once new equipment is in place and the existing assets have been relocated.
Employees will be encouraged to apply for the new positions created at other facilities, or for positions elsewhere in the Quebecor World network.
As part of its efforts to improve efficiencies Quebecor World has also announced that it has entered into negotiations with its employees' representatives at its facility in Stockholm, Sweden with regard to the facility's future.
This facility has struggled financially during the last few years and there is a strong possibility that the current negotiations will lead to a reorganisation of the company's Nordic gravure site that could involve the closing of the Stockholm plant.
The reorganisation of the U.S.
book operations, combined with the announcement in May of the company's intention to close its magazine printing facility in Effingham, Illinois and the possible reorganisation of Quebecor World's Nordic gravure businesses would result in restructuring charges in the range of $80 million.
Approximately one-half of that amount will be recorded in the second quarter of 2004, while the remainder may be recorded during the next 12 months.
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