Transcontinental closes the sale of its Mexican operations

About this update from Transcontinental Inc. Class A

[{"type":"text","content":"\n\n\n\n\n\nMONTREAL, Sept. 8, 2011 /CNW Telbec/ - Transcontinental Inc. (TSX: TCL.A\n TCL.B TCL.PR.D) announced today that it has closed the sale of its\n Mexican operations to Quad/Graphics, after receiving approval by the\n Mexican Federal Competition Commission. As a reminder, its Mexican\n operations employed 900 people in three facilities and were forecasted\n to generate about C$67 million in revenues in fiscal 2011.\n\n\nFrançois Olivier, President and Chief Executive Officer of\n Transcontinental wanted to highlight that this transaction was\n beneficial for Transcontinental. \"I am pleased with this first\n completed milestone. The divestiture of our Mexican assets to\n Quad/Graphics is in line with our strategy to further strengthen our\n printing assets in Canada and continue to improve our profitability\n while helping our customers to better reach their target consumers.\"\n\n\n\"Over the past thirteen years, we have built a solid business in Mexico,\n said Brian Reid, President of the Printing sector of Transcontinental.\n The combination of these assets with those of Quad/Graphics will take\n this growth a step further. It will be beneficial for employees,\n customers and the industry. I want to thank all of the employees of our\n Mexican operations for their support and commitment and wish them well\n moving forward,\" added Brian Reid.\n\n\nIn addition, in connection with this transaction, over the next four to\n six weeks, Transcontinental will gradually transfer its one and two\n color book printing business, destined for U.S. export, to\n Quad/Graphics.\n\n\nRecall that last July 13 Transcontinental also announced that it had\n agreed to acquire all the shares of Quad Graphics Canada Inc. including\n seven facilities of Quad Graphics Canada (3 in Ontario, 2 in Quebec, 1\n in Alberta and 1 in Nova Scotia), including six printing plants and one\n premedia facility. This transaction is currently being reviewed by the\n Competition Bureau of Canada.\n\n\nProfile\nTranscontinental creates marketing products and services that allow\n businesses to attract, reach and retain their target customers. The\n Corporation is the largest printer in Canada and the fourth-largest in\n North America. As the leading publisher of consumer magazines and\n French-language educational resources, and of community newspapers in...

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