Haymarket Media Group Extends Print Contract with Wyndeham
Friday, July 22, 2011
Press release from the issuing company
LONDON – Wyndeham Group announces that it has extended its printing contract with Haymarket Media Group to December 2015. The terms of the new arrangement include Wyndeham increasing its print prices from July 2011 in recognition of unprecedented increases in raw material and utilities costs with the consequential adverse effect on operating profit margins.
Wyndeham will continue to print 23 titles for Haymarket which represent most of its consumer weekly and monthly magazines; these include Autocar, What Car, Classic & Sports Car, FourfourTwo and Stuff and certain of its business weekly and monthly magazines; these include PR Week, Marketing and Management Today.
Gary Charlton, Head of Production at Haymarket Media Group UK, said: "Haymarket is pleased to support Wyndeham with this extension. In view of the turmoil within the UK magazine printing industry it is vital that, as one of the largest publishers, we support our key print supplier. We've done this by committing to a long-term arrangement and will pay fair prices that will allow Wyndeham to make a return on the excellent work it produces for us. I believe Wyndeham will remain the leading web offset group and the one we want to be associated with. We look forward to continuing our 40-year-old partnership with Wyndeham."
Paul Utting, Chief Executive of Wyndeham Group, commented: "We are absolutely delighted that Haymarket has extended this contract with us. Importantly, they understand that the substantial industry-wide raw material and utility cost increases we've incurred recently have to be passed through the supply chain if there is to be a viable web offset industry in this country and if Wyndeham is to remain healthy for the long term. This deal further builds on the strong successful relationship between our companies and again signifies Haymarket's long term commitment to the future of Wyndeham."
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