Printer Friendly

Quebecor Printing Acquires Peruvian Printer.

MONTREAL--(BUSINESS WIRE)--March 11, 1998--(ME:IQI.) (TSE:IQI.) (NYSE:PRW) Quebecor Printing announced today its further expansion into South America with the signature of an agreement to acquire Asociacion Editorial Stella, Peru's largest printer. The move strengthens the Company's market positions in the areas of books and magazines and provides an entry into the South American directory market.

The acquisition is a joint venture with Quebecor Printing's South American partner, the Aguirre family, from whom the Company acquired interests in Editorial Antartica last year. Under the terms of the agreement, Quebecor Printing and the Aguirre family each acquire 50 percent of Editorial Stella.

"As we have done with our operations in North America and Europe, we are creating a network of South American printing plants to support customers globally," said Charles G. Cavell, President and Chief Executive Officer of Quebecor Printing. "This acquisition represents the next step in our overall strategy to expand our markets and geography on the South American continent."

Asociacion Editorial Stella is located in Lima and is owned by the Brothers of the Christian Schools La Salle. It is the largest printer in Peru with both web offset and sheet-fed equipment and an extensive bindery. With 475 employees, the Company has annual revenues of 63 million soles (US $22 million). Its products include books (29 percent), magazines (18 percent), commercial printing (18 percent) and directories (16 percent).

The Stella purchase is the latest in a recent series of acquisitions undertaken by Quebecor Printing. "As with all our acquisitions, be they in the U.S., Canada, South America, the U.K. or continental Europe, the interests of our shareholders come first. We look for acquisitions that fit our strategic business plan either by providing us an entry into a new market or by strengthening an existing market position. We do not, however, go after an acquisition at any cost. The acquisition must provide a return within a relatively short period of time or it is not worth doing," Mr. Cavell added.

Quebecor Printing Inc. (NYSE:PRW; ME:IQI; TSE:IQI) a diversified global commercial printing company, is the second largest commercial printer in the United States and the largest in Canada and in Europe. The Company is a market leader in most of its major product categories which include magazines, inserts and circulars, books, catalogs, specialty printing, related services, chip cards, CD-ROM mastering and replicating, directories as well as checks, bonds and banknotes. The Company has over 27,000 employees working in more than 115 printing and related facilities in the United States, Canada, France, the United Kingdom, Spain, Germany, Chile, Argentina, Peru, Mexico and India.

CONTACT: Quebecor Printing Inc.

John Paul Macdonald, 514/954-0101

800/567-7070 (FAX)


Quebecor Printing South America

Guy Trahan, 011/(54) (3) 229-6317
COPYRIGHT 1998 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1998, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Mar 11, 1998
Previous Article:Request Seismic Surveys Ltd. Announces Financial Results.
Next Article:Genuine Fractals Pro Introduced by Altamira.

Related Articles
Quebecor Multimedia Inc. announces the acquisition of a majority interest in St. Remy Press Inc.
Quebecor Printing Inc. opens smart card plant.
Quebecor Printing - Financiere Jean Didier.
Quebecor Printing 20 Percent Increase in Net Income for 1996 Despite Difficult Industry Conditions.
The Right Honourable Brian Mulroney Named a Director of Quebecor Printing Inc.
Quebecor Printing enters new markets through acquisition of Les Jeux de Cartes Graphica.
Quebecor Printing Achieves Controling Interest of Swedish Printer TINA.
Quebecor Printing to Divest BA Banknote Division.
Quebecor World Renews and Extends Multi-Year Agreement With Dex Media, Inc.

Terms of use | Privacy policy | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters