Quad/Graphics to Close Five Plants, Eliminating 2,200 Jobs

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Researched by Industrial Info Resources (Sugar Land, Texas)--Shortly after Quad/Graphics Incorporated's (NYSE:QUAD) (Sussex, Wisconsin) closed on the acquisition of rival World Color Press Incorporated (North Haven, Connecticut), Quad/Graphics announced on August 5, 2010, that the company would close five plants.

The plants will be shut down before the end of 2010. The affected plants are in Clarksville, Tennessee; Dyersburg, Tennessee; Corinth, Mississippi; Lebanon, Ohio; and Reno, Nevada. The Dyersburg location already had announced its closures before the acquisition was completed. This closure was originally slated for early 2011, but since the acquisition, Quad/Graphics has moved the closure date up. The Reno, Nevada, location had also announced its closure prior to the acquisition.

The plants shutting down will encompass nearly 2.7 million square feet of building space and will leave about 2,200 unemployed. Quad/Graphics is closing these locations to integrate operations and improve efficiency. Prior to the acquisition, Quad/Graphics had 11 plants. The company will be responsible for 45 plants until the closures are completed. The company is expected to generate approximately $225 million in pre-tax net annualized synergies within the next two years.

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