TORONTO, June 23 (Reuters) - Bankrupt commercial printer Quebecor World Inc (IQW.TO) said on Tuesday that its creditors have approved its U.S. and Canadian plans of reorganization. The Montreal-based company said about 86.4 percent of all voting creditors across classes had voted to accept the company's third amended U.S. reorganization plan.
The printing industry website PrintCan.com (a sister site to MastheadOnline) reported yesterday that Novink — “nova” is Latin for “new” — may be the new name for Quebecor World, according to a filing with the Canadian trademark office.
CHICAGO—The proposed acquisition of North America's second-largest printer by the biggest of them all would create a giant of unparalleled proportions. The question is, would such a deal be a violation of this nation's antitrust laws? In a sense, would it also be the best thing to happen to the printing industry in years?
I nearly choked on my Coke this morning when the news came down that RR Donnelley had made a pretty straightforward offer of $1.35 billion in cash and stock to acquire Quebecor World.
MONTREAL—Quebecor World is projecting to turn modest profits over the next two years, according to bankruptcy court filing it made Wednesday. The company expects to earn $7 million in 2010, a figure that will rise to $57 million in 2011 and $74 million in 2012, The Canadian Press reported.
The clouds may soon be parting for Quebecor World in its struggle to remain an ongoing concern. The printer announced that it has reached an agreement in principle on a term sheet with its creditors, which will pave the way for Quebecor World to exit creditor protection in both the United States and Canada.
Printing Impressions' Commercial Printing Industry National News for May 2009
GARY STIFFLER considers himself a good judge of people. A 28-year printing industry veteran, Stiffler’s background includes stints with World Color and Quebecor World. During that time, he also became a shrewd arbiter of talent, appreciating the timber of employees that can enable a company to endure the peaks and valleys of business over the long haul.
Canada-based Quebecor World Inc. has notified state officials that the commercial printing company is closing its Memphis facility and as many as 111 workers will lose their jobs. The facility is at 828 E. Holmes Road.
Several hundred employees at the Merced plant of Quebecor World Inc. were informed Tuesday that their pay would be cut 10 percent and they would lose one week of paid vacation. Local human resources officials met with employees in large groups on Tuesday afternoon, a Merced employee said on the condition of anonymity because employees were warned not to speak to the press.
