Transcontinental Consolidates U.S. Facilities

The company cited turmoil impacting the financial markets—financial institutions represent a large portion of Transcontinental Direct USA's customer base—and the subsequent curtailing of their marketing programs as being behind the move. Transcontinental will take a pre-tax restructuring charge of between C$15 million and C$20 million in the fourth quarter, and another C$10 million to C$15 million to be charged in future quarters.