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Quebecor World completes restructuring, emerges from creditor protection
July 23, 2009 By Pulp & Paper Canada
Printer Quebecor World Inc. has emerged from protection under the Companies’ Creditors Arrangement Act i…
Printer Quebecor World Inc. has emerged from protection under the Companies’ Creditors Arrangement Act in Canada and Chapter 11 of the U.S. Bankruptcy Code.
As part of the restructuring, the names of the entities in the company’s group are to change to World Color Press Inc. or derivatives thereof, which was previously the name of one of the merged companies that created Quebecor World in 1999. The company intends to announce a renewed branding initiative during the next 60 days.
“This is an important and exciting day for the company, its customers, suppliers and employees. I would like to thank everyone who has supported us through this process,” says Jacques Mallette, president and CEO. “The restructuring and reorganizing process has made us financially healthier and allowed us to start fresh with a strong balance sheet and a leaner cost structure.”
Quebecor World has approximately 20,000 employees working in approximately 90 printing and related facilities in the United States, Canada, Argentina, Brazil, Chile, Colombia, Mexico, and Peru.
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