Quad sells Kentucky book plant, still working on sale of others - Global Paper Money

Click here for Pulp & Paper Radio International

The Paperitalo Library

The Paperitalo Library

White Papers/Downloads

PM 40 Companies

Cellulose Community

Paperitalo Resources

Paperitalo Supplier Directory

onlyPulpandPaperJobs.com

The Paperitalo Library

Inside PaperMoney

Paperitalo/Media Kit

Nip Impressions

Departments

Disconnected Comparisons

Insider Trading

Current News

Culture & Marketing

Corporate Finance

Labor & Union Actions

Major Expenditures

Market News of Note

Mergers & Acquisitions

Major Announcements

Operations Announcements

Facility Closures/Reductions

In Closing

Reference Library

AM Best Insurance News

Delaware Chancery Court

Fiduciary Developments

ICC News and Proceedings

Key Interest Rates

WTO News and Proceedings

Member Options

About Paper Money

Quad sells Kentucky book plant, still working on sale of others

WISCONSIN (From news reports) -- Sussex-based Quad/Graphics Inc. has sold its Versailles, Kentucky book manufacturing plant to Minnesota-based CJK Group Inc.

Terms of the deal were not disclosed.

The 1 million-square-foot plant specializes in the production of softcover and hardcover books, serving publishing housings in the areas of educational textbooks, trade, children's and scientific/technical books.

CJK will acquire the equipment and customer contracts for the facility and operate it as part of its Sheridan division.

"We are very happy to have found a great home for our talented team in Versailles while we continue to make progress on the potential sale of our remaining two East Coast book plants," said Joel Quadracci, chairman, president and chief executive officer of Quad.

Last fall, Quad said it planned to divest its book business as part of its Quad 3.0 transportation strategy.

The business was acquired in 2010 as part of Quad's World Color transaction. As of last year, it generated around $200 million in sales annually. Including the Kentucky plant, it had around 1,350 full- and part-time employees with other facilities in Fairfield, Pennsylvania and Martinsburg, West Virginia.

In addition to the sale of the Kentucky plant, Quad announced an amendment to its credit facilities to provide additional financial flexibility and the hiring of Cari Bucci-Hulings as president of Periscope, Quad's integrated marketing agency.

The highest value mill directory in the US at the lowest price $34.20. Click for Instructional Video.

Related Articles:

Kimberly-Clark to sell PPE business to Ansell for $640 million

DS Smith extends deadline for takeover offer by Mondi

DS Smith completes acquisition of Bosis doo in Serbia

European Commission Greenlights Smurfit Kappa Group and WestRock Merger

Western Forest Products completes sale of ownership interest in newly formed mid-island partnership

International Paper closes in on £5bn deal for London-listed DS Smith

South Carolina Ports Authority advances purchase of WestRock site in North Charleston

Billerud will sell its idled Wisconsin Rapids paper mill

Quad Announces New Postal Optimization Program for Mailers Impacted by USPS Postage Rate Hikes

Weinig takes over grinding machine portfolio from Stähle-Hess

Login and voice your opinion!

Our Sponsors

Copyright © and Trademark PaperMoney ® 2006-2024 All Rights Reserved

A Paperitalo Publication/The Home of your Prospects (TM)

Copyright Statement | Privacy Statement | Terms of Service

Powered by Bondware

News Publishing Software

The browser you are using is outdated!

You may not be getting all you can out of your browsing experience
and may be open to security risks!

Consider upgrading to the latest version of your browser or choose on below: