Transcontinental Reports Positive Trend in Q3 Financial Indicators
• Printing is one of the corporation’s core competencies and Transcontinental has always stood out for its culture of technological innovation and efficiency. Since 2007, the corporation has invested some $700 million in capital expenditures that have included three major projects. First there was the building of the Fremont plant, which has been printing the San Francisco Chronicle since July 2009; this was followed by the modernization of the Transcontinental Transmag newspaper printing plant in Montreal, which was completed in 2009; the focus has now turned to the Canada-wide hybrid platform to print newspapers and retail flyers, which will be fully operational by no later than early fiscal 2011. Using state-of-the-art technology, this unique platform will generate new revenues as well as significant gains in synergies and efficiency. For their part, The Globe and Mail and Transcontinental’s retail customers will enjoy print quality, format options and colour options that have no equivalent in Canada. The Corporation will reap the full benefit of these investments in the years ahead.
The corporation’s commitment to social responsibility and sustainable development was again recognized in the third quarter. For the seventh year, Corporate Knights ranked Transcontinental among the Best 50 Corporate Citizens in Canada. In addition to environmental practices, this ranking takes into account labour relations, community involvement, occupational health and safety, and the quality of corporate governance. Corporate Knights Inc. is an independent Canadian company that publishes the magazine of the same name dedicated to corporate social responsibility. This magazine is the most widely read magazine in the world in its category.
Note that in the second quarter, Transcontinental published its first complete Sustainability Report and received the “Best of Show” award from the magazine PrintAction for “most environmentally responsible corporation” in Canada overall, in 2009. It goes without saying that the Corporation’s paper purchasing policy played a key role in these awards.