Business
Transcontinental to acquire Canadian assets of Quad/Graphics and to sell its Mexican assets
Jul. 13, 2011 (Canada NewsWire Group) -- This press release must not be published, distribut...
About this update from Transcontinental Inc. Class A
[{"type":"text","content":"\n\n\n Jul. 13, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nThis press release must not be published, distributed or disseminated,\n directly or indirectly, in the United States.\n\n\nMONTREAL, July 13, 2011 /CNW Telbec/ - Transcontinental Inc. (TSX:\n TCL.A, TCL.B, TCL.PR.D) and Quad/Graphics Inc. (NYSE: QUAD) have\n entered into a definitive agreement pursuant to which Transcontinental\n will indirectly acquire all the shares of Quad Graphics Canada Inc. In\n a separate transaction, Transcontinental has also reached an agreement\n to sell its Mexican operations as well as transfer its black and white\n book printing business, destined for U.S. export, to Quad/Graphics. \n The definitive agreement has been approved by the Boards of Directors\n of both Transcontinental and Quad/Graphics.  The transactions are\n subject to obtaining regulatory clearances, including under the\n Canadian Competition Act and the Mexican Federal Law on Economic\n Competition.  Essentially, these transactions represent an exchange of\n assets. Both transactions are expected to close in the fall.\n\n\nMore specifically, Transcontinental will be acquiring seven of\n Quad/Graphics' facilities across 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. These operations employ 1,500 people and are\n forecasted to generate approximately US$310 million of revenues in\n fiscal 2011. Conversely, Transcontinental ...