Quebecor World and Albertsons Announce New $150 Million Contract
Press release from the issuing company
GREENWICH, Conn.--Dec. 9, 2002--Quebecor World Inc. today announced it has signed a three-year $150 million contract to print a majority of Albertsons weekly advertising insert program. Albertsons is one of the world's largest food and drug retailers with annual revenues of approximately $38 billion. This new agreement expands on a previous partnership between Quebecor World and Albertsons under which Quebecor World printed approximately 20 per cent of Albertsons' advertising inserts.
"This agreement is an excellent example of our retail insert strategy of providing a coast-to-coast retail platform for major U.S. retailers," said David Boles, Co-Chief Operating Officer Quebecor World North America. "We are pleased that a retailer of the size and scope of Albertsons is placing its trust in Quebecor World to supply its weekly advertising insert program. This also shows that our recent acquisition of our Taunton, Mass. facility and the expansion of our operations in Riverside, California were the right decisions positioning us to grow our customer base and benefit our shareholders."
Quebecor World will produce approximately 40 million retail inserts per week at its facilities in California, Arizona, Oklahoma, Tennessee, Massachusetts and British Columbia. These retail inserts are placed in more than 250 newspapers per week for delivery to Albertsons customers across the U.S.
"This new partnership with Quebecor World reaffirms our company-wide focus on aggressive cost and process control," said Pam Powell, Group Vice President Marketing & Advertising. "Quebecor World's combination of service and its extensive platform offer us the geographic scope required by a Company of our size, as well as a significant cost savings benefit."
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