Quebecor Shuts Plant, Signs Contracts
MONTRÉAL—With its court-appointed administrators unable to find a buyer, Quebecor World PLC of Northamptonshire, U.K., a subsidiary of Quebecor World, shut its doors in early February. The closing left 250 people without jobs.
The facility specialized in web offset magazines, catalogs and specialty printed advertising products.
“Quebecor World PLC sought to find a going concern buyer for the business, but unfortunately it became clear that the focus of interested parties is on the assets of the business,” said Ian Best, one of the administrators, in a statement.
However, Quebecor World announced the signing of new and renewed multi-year agreements with customers across all of its major business groups. The value of the pacts is estimated at more than $75 million annually.
Marketing services provider Imagitas Inc. inked a three-year extension worth more than $50 million for the firm’s book and direct mail divisions. The magazine division reaped a five-year pact to print all nine of Stamats Business Media’s titles and a new deal with F&W Publications to produce four titles.
Quebecor World’s U.S. retail insert and catalog division captured long-term renewals from five customers, valued at more than $55 million a year.