Quebecor World Extends Book Pact
MONTREAL—Quebecor World reached a multiyear extension agreement with publishing giant Simon & Schuster. Financial terms of the deal, which runs through 2015, were not revealed. At current levels, Quebecor World will supply Simon & Schuster with more than 100 million hard- and soft-cover consumer books per year via its network of six dedicated book facilities in the United States.
Meanwhile, Quebecor World France has renewed its printing and finishing contracts with Mondadori France and Prisma Presse through 2009 and 2010, respectively. The pacts are valued at about 50 million euros. The company also announced it has enhanced its partnership with Carrefour Group in 2008, due to a substantial increase in sales. The value of the new contract is estimated at 17 million euros.
Parent company Quebecor Inc. reported a monstrous C$962.2 (US$943.7) million loss for the fourth quarter, largely stemming from the problems experienced by Quebecor World.