Quad/Graphics Closing Mt. Morris Plant
SUSSEX, WI—Quad/Graphics Inc. announced it will cease production at its Mt. Morris, IL, facility in May as part of its ongoing plan to integrate operations following the company's July 2, 2010, acquisition of Worldcolor. The closure will impact about 230 employees.
Joel Quadracci, chairman, president and CEO of Quad/Graphics, said the move was necessary to help integrate operations, remove excess capacity and strengthen the firm's position. "We remain resolute in our goal of creating the industry's most efficient and modern manufacturing platform to benefit our clients and drive shareholder value," he added.
The Mt. Morris, IL, plant encompasses approximately 644,000 square feet. Customer work will be consolidated into other facilities. The company noted that it will assist affected employees in finding new jobs, including those available at other Quad/Graphics locations.
"We value the talents and contributions of employees impacted...and want to help them with their career transition," Quadracci said. "The plant has a long tradition of client service and is not closing because of employee performance or client service issues."
Quad/Graphics is reportedly on target to achieve somewhat more than $225 million in synergy savings on an annual run-rate basis within 24 months of closing on its transaction with Worldcolor.
"The integration process is moving forward as expected and, while we are very focused on achieving synergies, we are equally focused on serving our customers and ensuring work is produced without disruption. We are building a strong foundation for future growth and success," Quadracci concluded.