Outlook Group Signs Major Contract; Could Bring $75 Million Over 5 Years
Press release from the issuing company
NEENAH, Wis.--March 26, 2003--Outlook Group today announced it has signed a long-term contract to provide supply chain management services to International Masters Publishers Inc. (IMP Inc.) of New York City. The five-year contract is expected to provide annual revenues to Outlook Group of about $15 million, for a total value of approximately $75 million, assuming that current expectations are realized. With this level of revenues, about 80 Outlook Group employees could ultimately work on the project.
Outlook Group will provide printing and fulfillment services for IMP Inc. continuity products, which are informational card and CD series that cover a variety of subjects such as cooking, gardening, health, home computing and music. Customers build their own collections, receiving products in each series through the mail on a schedule they select, along with bonus items including storage boxes or binders. The project will involve Outlook Group's complete line of services. The company will print the materials and then collate, insert, package and mail the products directly to IMP Inc. customers. Additional services to be provided include sheeting of bulk paper stock and mailing list processing.
"We selected Outlook Group because they had the ability to provide the manufacturing and fulfillment services we needed in an integrated package. Partnering with Outlook Group will enable us to reduce our transaction and supply chain costs. With less time spent managing the supply chain process, we will be able to focus our efforts on expanding our core business," said David Steward, President and Chief Executive Officer of IMP Inc. "In the past, we coordinated the work of over 30 vendors in our supply chain. Working with Outlook Group will reduce that number to four."
"Outlook Group's strategy to use its printing capabilities as a platform to provide a complete package of services tailored to the customer's needs is a new paradigm in the printing business. They not only offer the services, they know how to integrate them to provide value for their customers," said Jose Pariente, Senior Vice President of Supply Chain Management for IMP Inc. "We have worked with Outlook Group for a number of years. Their single-source capabilities, customer focus and excellent execution are the compelling reasons behind our decision to significantly expand our relationship."
Joseph J. Baksha, President and Chief Operating Officer of Outlook Group, said, "The long-term contract with IMP Inc. adds stability for our company and our employees at a time that is very challenging for the printing industry. It also is a strong indicator that our strategy to provide integrated supply chain solutions is on the right track. We believe this strategy will provide additional growth opportunities for Outlook Group in the years ahead."
Outlook Group Corp. is a printing, packaging and direct marketing company offering a variety of related services to clients in markets including contract packaging, collateral information management and distribution, direct marketing components and services, packaging components and materials, and specialty print related services. The company leverages its core competencies by cross-selling services to provide a single-source solution for its clients.
International Masters Publishers (IMP) is a global leader in direct marketing and continuity publishing specializing in high-quality products that inform, entertain and inspire. The company has millions of active customers in more than 25 countries. Founded in 1972, IMP is headquartered in New York City.
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