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UPFRONT

September 2007
Quebecor World Endures Loss
MONTREAL—Embattled printing giant Quebecor World was socked with a loss of $21.1 million for the second quarter, or 20 cents a share. That is more than three times the $6.5 million (11 cents) net loss from the same period in 2006. Even so, Wes Lucas, Quebecor World president and CEO, reported that the North American operations produced significantly improved earnings, especially in the book and magazine divisions, where the firm’s retooling and restructuring program has been completed.

Fire Strikes NJ Newspaper
TRENTON, NJ—Contractors dismantling a printing press at The Times of Trenton accidentally ignited a fire, that newspaper reported. There were no injuries and the fire was quickly put out. The Times had previously merged some production facilities with the Newark Star-Ledger in Piscataway, NJ, and the decommissioned press was being moved from a facility that is for sale.

Arandell Expanding Mega Plant
MENOMONEE FALLS, WI—Arandell Corp. is adding a 106,000-square-foot addition to its existing plant here, making its overall size in excess of 565,000 square feet. The addition will house new perfect binding equipment to be acquired in the future.

Donnelley Down $69.4M in Q2
CHICAGO—RR Donnelley reported a net loss of $69.4 million for the second quarter, compounded by $330.5 million in pretax charges, virtually all of which covered the company’s writedown of the value of trade names for acquired companies Moore Wallace and Office Tiger.

Domtar Slices Paper Capacity
MONTREAL—Domtar Corp. announced it is permanently closing its Canadian paper mill in Gatineau, Quebec, and a converting center in Ottawa. The company is also shutting down paper machines at its Woodland mill in Baileyville, ME, and its Port Edwards, WI, mill. The moves stem from a review of Domtar’s overall production capacity. The company cited excess capacity and cost. Roughly 150 jobs will be lost at the Woodland mill and 30 at Port Edwards.

X-Rite Obtains Pantone Inc.
GRAND RAPIDS, MI—Color management solutions provider X-Rite Inc. has struck a deal to obtain Pantone Inc. for $180 million. The deal is expected to close this fall. Pantone, based in Carlstadt, NJ, is known for its PANTONE Matching System, which identifies, matches and communicates colors to solve reproduction problems in the graphic arts market.

xpedx Adding Central Lewmar
LOVELAND, OH—Paper and graphics supplies distributor xpedx will acquire the Central Lewmar companies based in Newark, NJ, from private equity firm Chrysalis Capital Partners for about $185 million. Central Lewmar, which distributes printing and publishing papers, recorded more than $900 million in revenues for 2006.
 

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