Proposed closure of the Wyndeham Impact site
Friday, September 02, 2011
Press release from the issuing company
LONDON: Wyndeham Group announced on 1 September that it is entering into a 30-day consultation process with the 58 employees involved in manufacturing at Wyndeham Impact, its Basingstoke-based magazine cover web offset printing subsidiary. The proposal is to close the site during October 2011.
If Wyndeham Impact closes, and subject to agreement with its customers, Wyndeham Group will transfer production of the site's work to some of its other web offset facilities. Approximately 83% of Wyndeham Impact's work is sub-contracted from Wyndeham Group companies.
Roy Kingston, Wyndeham Group's Chief Operating Officer, said: "Following our acquisition of the St Ives Web companies in April this year, we now have a choice of other web offset cover printing operations. After reviewing Wyndeham Impact's financial performance, along with other principal factors such as the requirements of our customers, our manufacturing capacities, and the cost of production, it shows that the business is not sustainable as a stand-alone entity. We have reviewed a range of options to find an economic solution that would make the company viable. So far, we have been unable to find a workable business model."
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