Quad/Graphics Awarded $1.1 Billion Contract Renewal From Time Inc.
Press release from the issuing company
Quad/Graphics has renewed our long-standing business relationship with publisher Time Inc. with a new $1.1 billion agreement for the continued production of 22 titles through year end 2013. The titles covered under the agreement are Time, Sports Illustrated, SI for Kids, People, Teen People, Entertainment Weekly, Fortune Small Business, Business 2.0, Cottage Living, Parenting, Baby Talk, Health, Food & Wine, Travel + Leisure, Travel + Leisure Family, Sunset, Field & Stream, Golf, Popular Science, Outdoor Life, Ski and Skiing.
As part of the agreement, Quad/Graphics was also awarded the printing of additional copies of Time, Sports Illustrated and People, which will be produced at our two-year-old Oklahoma City plant beginning in January 2007. Quad/Graphics will expand our 2x8 web offset press and selective saddle stitching capabilities in Oklahoma City to accommodate the new work, and create upwards of 50 new jobs there.
Time Inc. cited Quad/Graphics' advanced manufacturing platform and capabilities, as well as our commitment to technological innovation, as primary reasons for awarding the new and renewed work to us.
"We're excited about the agreement that we've reached with Quad and thrilled that our titles will continue to benefit from the latest print technologies Quad offers along with the high level of professionalism and top-notch customer service that we've come to expect from everyone in the Quad organization," said Laura Reid, Vice President of Print for Time Inc. "We are looking forward to the years ahead and our continued close partnership with Quad/Graphics."
"Quad/Graphics is thrilled to continue our partnership with Time Inc. and be its largest print producer," said Joel Quadracci, President & COO of Quad/Graphics. "We will continue to build on our record of superior customer service, high-quality and timely production and technological innovation to meet Time Inc.'s needs."
Mr. Quadracci noted that because Quad/Graphics has chosen to grow our manufacturing operations organically throughout its 35-year history, "each of our plants is identically equipped and run, delivering consistent, streamlined service to multi-plant customers like Time Inc."
Quad/Graphics’ relationship with Time Inc. spans more than 20 years. In addition to the 22 titles covered under the new agreement, Quad/Graphics also prints a significant portion of LIFE magazine and all of InStyle magazine under separate agreements.
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