Quebecor World Announces $55 Million Agreement With Reader's Digest Association
Press release from the issuing company
MONTREAL, CANADA-- (July 10, 2008) - Quebecor World Inc. today announced it has reached a new multi-year agreement valued at approximately $55 million with Reader's Digest Association to print magazines and books for the New York-based publisher. The agreement includes renewal work on titles such as Family Handyman, Reader's Digest Large Print, Weekly Reader, QVC books and Select Editions books. The agreement also includes significant new work for Quebecor World, including Weekly Reader Current Events and Reader's Digest Milwaukee magazine.
"Our partnership with the Reader's Digest Association dates back more than 30 years," said Jacques Mallette, President and CEO, Quebecor World Inc. "We are pleased that this agreement not only continues our partnership but will further expand the scope and scale of the services we provide to the Reader's Digest Association."
"Our ability to serve the Reader's Digest Association through our integrated Publishing Services Group allows us to deliver the value and quality an industry publishing leader such as the Reader's Digest Association demands," said Kevin J. Clarke, President of Quebecor World's Publishing Services Group. "This successful partnership also shows the value of our strategy to integrate our magazine, book and directory operations into a single operating structure. Innovative publishers such as Reader's Digest Association are increasingly serving their readers and advertisers across these multiple media platforms."
Quebecor World's continental platform and full-service offering provides added value to Reader's Digest. The work will be produced at Quebecor World's facilities in the United States and Canada and Reader's Digest will benefit from Quebecor World's leading Logistics Services to improve delivery and reduce postal costs.
Al Perruzza, Senior Vice President of Global Operations at Reader's Digest Association, said: "Quebecor World has demonstrated continuing high levels of service, quality and value over the many years we have been able to work with the company. We are pleased to renew and expand on this relationship, and look forward to Quebecor World being a valued partner to us in the years ahead."
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