SOURCE: Quad/Graphics

Quad/Graphics

November 30, 2010 14:31 ET

Quad/Graphics to Close Fredericksburg, Va., Facility in January 2011

SUSSEX, WI--(Marketwire - November 30, 2010) - Quad/Graphics, Inc. (NYSE: QUAD) announced today that it is continuing to move forward with consolidating operations as part of its integration strategy. The company plans to cease production at its Fredericksburg, Virginia, facility, by the end of January 2011.

"Today's announcement is part of our ongoing plan to integrate operations following our acquisition of Worldcolor and will further strengthen the efficiency and competitiveness of our manufacturing platform," said Joel Quadracci, Chairman, President & CEO of Quad/Graphics. "We have a clear vision for the future of our company and are moving aggressively to implement plans that will benefit our customers and drive value for our shareholders."

The Fredericksburg plant -- which is part of Quad/Graphics' direct mail division called QuadDirect -- will begin stepping down operations immediately. The plant encompasses approximately 165,000 square feet and employs approximately 300 full-time and part-time workers. Customer work and most equipment will be consolidated into other QuadDirect facilities.

The company will proactively assist impacted employees in finding new jobs, including those available at other Quad/Graphics locations. "As we go about this integration, we never forget that our decisions affect people's lives," Mr. Quadracci said. "We value the talents and contributions of the employees impacted by today's announcement, and want to help them with their career transition."

Forward-looking statements
To the extent any statements made in this press release contain information that is not historical, these statements are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements relate to, among other things, Quad/Graphics' objectives, goals, strategies, beliefs, intentions, plans, estimates, prospects, projections and outlook, and can generally be identified by the use of words such as "may", "will", "expect", "intend", "estimate", "anticipate", "plan", "foresee", "believe" or "continue" or the negatives of these terms, variations on them and other similar expressions. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements.

These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond the control of Quad/Graphics. These risks, uncertainties and other factors could cause actual results to differ materially from those expressed or implied by those forward-looking statements. Among such risks, uncertainties and other factors that may impact Quad/Graphics are: unexpected costs or liabilities related to the recently completed acquisition of World Color Press Inc., including the effects of purchase accounting that may be different from Quad/Graphics' preliminary allocations; Quad/Graphics may be unable to achieve the estimated potential synergies expected from the acquisition or it may take longer or cost more than expected to achieve those synergies; failure to successfully integrate the operations of Quad/Graphics and World Color Press; changes in industry conditions, such as the competitive environment for companies in the printing industry; regulatory and litigation matters and risks; legislative developments or changes in laws; changes in macroeconomic conditions in the countries where Quad/Graphics operates, including the impact of such conditions on future volume and pricing; the impact of fluctuations in interest rates, commodity prices and foreign exchange rates; the effects of changes in political conditions and developments in the countries where Quad/Graphics operates; and the effect of accounting pronouncements issued periodically by standard-setting bodies. 

Quad/Graphics cautions that the foregoing list of risks, uncertainties and other factors is not exhaustive and you should carefully consider the other factors detailed from time to time in Quad/Graphics' filings with the United States Securities and Exchange Commission and other uncertainties and potential events when relying on the Company's forward-looking statements to make decisions with respect to Quad/Graphics.

Because forward-looking statements are subject to assumptions and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. You are cautioned not to place undue reliance on such statements, which speak only as of the date of this press release. Except to the extent required by the federal securities laws, Quad/Graphics undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

About Quad/Graphics
Quad/Graphics (NYSE: QUAD) is a global provider of print and related multichannel solutions for consumer magazines, special interest publications, catalogs, retail inserts and circulars, direct mail products, books and directories. Headquartered in Sussex, Wis. (just west of Milwaukee), the company has approximately 28,000 employees working from approximately 80 locations throughout the United States, Canada, Latin America and Europe. As a printing industry innovator, Quad/Graphics (www.QG.com) is redefining the power of print in today's multimedia world by helping its clients use print as the foundation of multichannel communications strategies to drive their top-line revenues.

Contact Information

  • Media Contact:
    Claire Ho
    Quad/Graphics
    414-566-2955
    Claire.Ho@qg.com

    Investor Relations Contact:
    Barb Bolens
    Quad/Graphics
    414-566-4959
    IR@qg.com