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Suggest pagesQuebecor World
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| Type | Public |
|---|---|
| Industry | Commercial and industrial printing |
| Founded | 1954 |
| Headquarters | Montreal, Quebec, Canada |
| Key people | Jacques Mallette, CEO |
| Employees | 43,000[1] |
| Website | www.worldcolor.com |
Quebecor World Inc. was a printing subsidiary of Quebecor Inc. based in Montreal, Quebec. It comprised a number of small and large print shops throughout the world. In 2010, Quebecor World (now known as Worldcolor) was acquired by Wisconsin-based Quad/Graphics.
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[edit] History
Quebecor Printing started in 1954 with a single printing press. It began its expansion outside of Canada in 1985, when it bought Pendell Printing, a Midland, Michigan-based company. In 1988, it purchased the printing plants of Bell Canada Enterprises. This was followed by the 1990 purchase of Maxwell Graphics' shops.
[edit] Merger with World Color Press
In 1999, Quebecor Printing merged with World Color Press in a US $2.7 billion deal to create Quebecor World. (World Color Press was founded in 1904 in St. Louis, MO. World Color had pursued major expansions in 1996 and 1997, purchasing Ringier America and Rand McNally's Book Services Group.)
[edit] Financial struggles
Quebecor entered a difficult period in the early 2000s as the market has gradually shifted focus to digital media. In response, the company's Board of Directors named Wes Lucas President and CEO, replacing Pierre Karl Péladeau, and announced a reorganization of its American book and magazine platforms, closing plants in Kingsport, TN, and Brookfield, WI.
Quebecor World (USA) Inc. filed for Chapter 11 bankruptcy protection on January 21, 2008 at the United States Bankruptcy Court for the Southern District of New York, as well as for protection under the Companies' Creditors Arrangements Act at the Superior Court of Québec at Montreal.[2]
In May 2009, Chicago-based printer RR Donnelley tendered an unsolicited bid to purchase Quebecor World,[3] which was rejected as the company emerged from creditor protection in July (having changed its name back to "Worldcolor Press").[3]
On July 2, 2010, Sussex, Wisconsin-based Quad/Graphics printer purchased Worldcolor.[3]
[edit] Locations
Quebecor had facilities in the United States, Canada, Brazil, France, the United Kingdom, Belgium, Spain, Austria, Sweden, Switzerland, Finland, Chile, Argentina, Peru, Colombia, Mexico, and India.
[edit] See also
[edit] References
- ^ "Company Profile for Quebecor World Inc (CA;IQW)". http://www.zenobank.com/index.php?symbol=CA;IQW&page=quotesearch. Retrieved 2008-10-15.
- ^ "Initial Order". 2008-01-21. http://documentcentre.eycan.com/eycm_library/Quebecor%20World%20Inc%5CEnglish%5CCourt%20Orders%5C01.%20Initial%20Order%5CQuebecorInitialOrder21Jan08.pdf. Retrieved 2011-09-28.
- ^ a b c "U.S. printer to swallow former Quebecor World," CBS News (Jan. 26, 2010).
[edit] External links
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