Quebecor World Envisions Small Profit in 2010
MONTREAL—Quebecor World is projecting to turn modest profits over the next two years, according to bankruptcy court filing it made Wednesday. The company expects to earn $7 million in 2010, a figure that will rise to $57 million in 2011 and $74 million in 2012, The Canadian Press reported.
Quebecor World has filed an Amended Plan of Reorganization and Disclosure Statement for its U.S. subsidiaries currently subject to Chapter 11 proceedings in the United States, providing further details on its Plan of Reorganization. The U.S. Court hearing on the approval of the Disclosure Statement, which will form the basis on which creditors will vote on the U.S. Plan of Reorganization, is currently scheduled to be held before the U.S. Bankruptcy Court on May 15.