Changes in Store for Quebecor World

"These are plants that do spot work, not a business that really fits in with Quebecor World," notes Tony Ross, director of communications, who stressed that core portions such as long-run magazines, catalogs and books would not be affected.

In its first quarter 2005 results, Quebecor World reported net income of $16.3 million after the impairment of assets, restructuring and other charges. That figure is down sharply from the $35.8 million net income registered for the first quarter of 2004. The impairment of assets, restructuring and other charges totaled $33 million.