MONTREAL—Quebecor World received conditional waivers from its lenders, amid speculation that Canadian bankers are leaning on parent company Quebecor Inc. to bail the printer out.According to a Canadian Press report, Quebecor World must generate C$125 million in liquidity by January 15 and deliver a refinancing transaction, with commitments to satisfy lenders by the end of…
MONTREAL—Only days after confirming that the sale of its European assets had failed, Quebecor World announced Wes Lucas stepped aside as president and CEO of the troubled company. Lucas is being replaced by Jacques Mallete, who previously served as executive vice president and CFO. Quebecor World would only say that Lucas was leaving the company to pursue other opportunities in the United States. Last year definitely ended on a sour note for Quebecor World. Shareholders of Netherlands-based RSDB NV voted down the proposed C$341 million purchase of Quebecor World’s European printing business, leaving North America’s second-largest printer in precarious financial straits. The company received
IT WASN’T a very joyous holiday season for Quebecor World, North America’s second largest printing conglomerate. CEO Wes Lucas departed—fresh on the heels of his company’s plan to sell its 18 European facilities to The Netherlands-based RSDB Group for $341 million ultimately being voted down by RSDB’s shareholders in December and Quebecor World pulling the plug in late November on a refinancing plan to issue more shares due to weak market conditions. The saga continues: At press time, Quebecor World reached a new accord with its lenders mandating that it obtain $125 million in new financing by January 15 and consumate a
MONTREAL—Only days after confirming the sale of its European assets had failed, Quebecor World anounced Wes Lucas had stepped aside as president and CEO of the troubled company. Lucas is being replaced by Jacques Mallete, who previously served as executive vice president and CFO. Quebecor World would only say that Lucas was leaving the company to pursue other opportunities in the United States. The year is definitely ending on a sour note for Quebecor World. Shareholders of Netherlands-based RSDB NV voted down the proposed C$341 million purchase of Quebecor World’s European printing business, leaving North America’s second-largest printer in precarious financial straits. Financial analysts lowered their expectations
SAN LUIS OBISPO, CA—12/13/07—A stellar group of leaders in the graphic arts industry will be speaking on issues related to sustainability in business at the “The Business of Green Media” conference planned for Jan. 24 at Cal Poly. The conference, intended particularly for the graphic arts industry, will take an in-depth look at current developments, state and federal regulations, and other conditions directly related to the “greening” of the printing industry. The conference will open with a keynote address by Don Carli, senior research fellow at The Institute for Sustainable Communication. He will speak on “Sustainability, Climate Change and the Evolution of Greener Graphic Communication Supply
MONTREAL—With its stock value plummeting and a weak credit market causing it to nix a refinancing plan, Quebecor World appears destined for major changes in 2008. On the eve of executing a refinancing program in late November, Quebecor World had to back away from its plan to offer C$250 million worth of shares, C$500 million in new debt securities and amendments to secured debt. North America’s second largest printer gave “adverse financial market conditions” as the official reason. The company is hiring independent financial advisors to explore strategic options. The day before Thanksgiving, Quebecor World’s shares on the Toronto Stock Exchange sank 9 percent and its
The 2012 Printing Impressions 400 list of the largest printing companies in the United States and Canada as ranked by annual sales.
INDUSTRY NEWS ‘The Green Media Show’ BOSTON—A “green” conference and expo called “SustainCommWorld—The Green Media Show,” which focuses on all aspects of media and to how to convert production into sustainable workflows, will debut October 1-2, 2008, at the Marriott Copley Square Hotel here. SustainCommWorld LLC, headquartered in Mercer Island, WA, was launched by veteran graphic arts and trade show professionals to provide a forum for companies that design, print and distribute digital and printed information to find solutions to sustainability issues. The conference and expo will focus on topics including increased brand equity, business risk reduction, supply chain activity, carbon footprinting and sustainability reporting. It will
ONE THING is a safe bet when it comes to handicapping the fortunes of the book manufacturing sector: Those who stay in school will definitely go far. The book platform is rife with challenges. Overseas printers can offer attractive production cost savings and adequate turnarounds in segments that aren’t as time- sensitive, such as coffee table books. One-color has become a bubbling commodity cauldron for print- on-demand digital applications; a boon for publishers that don’t want to carry excess inventory but, from this side of a playing field, it resembles a feeding frenzy for printers with comparable equipment. Want to continue dabbling in trade?
MONTRÉAL—With its stock value plummeting and a weak credit market causing it to nix a refinancing plan, Quebecor World appears destined for major changes in 2008. The venerable printer sold a majority share of its European operations to RSDB Group in a deal with a total value of U.S.$341 million. Under terms of the transaction, Quebecor World will retain a 29.9 interest in the new company, which will be called Roto Smeets Quebecor (RSQ) and listed on the Euronext Amsterdam. In all, Quebecor World will receive $213 million in cash, a $50 million note and 1.4 million shares. Quebecor World’s European operations include 18 printing and
