Quad/Graphics’ Sales Dip, but Earnings Rebound
On March 1, 2012, the company completed the sale of its Canadian business to Transcontinental. Quad/Graphics entered into a definitive agreement with Transcontinental on July 12, 2011, to essentially exchange its Canadian assets for Transcontinental's Mexican assets.
“We are pleased with our integration progress in Mexico, which we continue to believe is a promising growth market,” Quadracci noted.
Additionally, during the first quarter, the company announced a strategic partnership with Manipal Technologies Ltd. (ManipalTech), one of India's largest print services and end-to-end business solutions providers. Under the agreement, Quad/Graphics purchased a minority interest in ManipalTech, expanding Quad/Graphics' geographic reach to Asia, and broadening its product and service scope.
“We are enthusiastic about our new partnership with ManipalTech, a rapidly growing, forward-thinking company, and believe that together we can create value in the region's fast-growing economy,” stated Quadracci.
Quad/Graphics (NYSE: QUAD) is a global provider of print and related multichannel solutions for consumer magazines, special interest publications, catalogs, retail inserts/circulars, direct mail, books, directories, and commercial and specialty products, including in-store signage. Headquartered in Sussex, Wis. (just west of Milwaukee), the Company has approximately 22,000 full-time equivalent employees working from more than 50 print-production facilities as well as other support locations throughout North America, Latin America and Europe.