Grafikom Acquires Canadian Commercial and Specialty Printing Network from Quebecor World
Press release from the issuing company
MONTREAL--Nov. 15, 2005-- Quebecor World Inc. and Grafikom L.P., a newly formed entity, announced today that Grafikom has completed the acquisition of six of Quebecor World's Canadian facilities in a management buy-out. These facilities specialize in commercial and specialty printing. The purchase price for the transaction is C$53 million, subject to certain adjustments.
With annual revenue over C$100 million, Grafikom will rank as one of the largest commercial, digital and specialty printing networks in Canada. The operations include: MIL, Graphica, Printpak, Calgary, Jasper and Carlsbad.
Grafikom is led by a senior management team with extensive experience in the printing industry. Mr. Aivars Beikmanis, former President of the Quebecor World Specialty Group in Canada, will serve as Grafikom's President and Chief Executive Officer.
"This acquisition represents an exciting opportunity to continue offering responsive and innovative print management solutions to our clients through on-going investment in infrastructure and technology," said Mr. Beikmanis. "We are committed to ensuring a seamless transition for our clients and employees alike."
Grafikom and Quebecor World have agreed to extend their current working relationship whereby Quebecor World will continue to provide full web and in-line capability to Grafikom clients. For its part, Grafikom will continue to offer sheetfed and specialty printing to Quebecor World clients.
Quebecor World Inc. is the largest printer in Canada with a coast-to-coast network of more than 20 printing and related facilities. Quebecor World's Canadian operations have annual sales of more than US$900 million and specialize in the printing of magazines, catalogs, retail inserts, books, directories and direct mail. Quebecor World's global revenues in 2004 were US$6.6 billion.
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