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Quebecor World Signs $285 Million Contract Into 2014 With the Mcgraw-Hill Companies
MONTREAL, CANADA--(Marketwire - April 2, 2008) - Quebecor World Inc. (TSX:IQW) announced that it has been awarded a new contract with The McGraw-Hill Companies extending into 2014. The McGraw-Hill Companies is a leading global information services provider. The new agreement is valued at approximately $285 million over its term and covers a wide range of educational textbooks, ancillary products, professional learning products and catalogs.
H. Bruce Ryno, Sr. VP Global Procurement & Manufacturing Services for The McGraw-Hill Companies stated, "This contract with Quebecor World extends a successful, long term relationship and delivers significant cost savings to The McGraw-Hill Companies over the life of the contract."
"We are pleased to renew and expand our partnership with The McGraw-Hill Companies," said Jacques Mallette, President and CEO Quebecor World Inc. "We are committed to serving their needs for many years to come by providing an on-time, quality product and expanded value-added solutions to help them grow their business."
Kevin J. Clarke, President of the Quebecor World Book and Directory Group commented, "This agreement is a further testament to our focus on creating premier solutions that maximize our customer's success in their targeted markets. The dedication of our employees to meet the high standards of The McGraw-Hill Companies is a great source of pride".
Forward looking statements
This press release may include "forward-looking statements" that involve risks and uncertainties. All statements other than statements of historical facts included in this press release, including statements regarding the prospects of the industry and prospects, plans, financial position and business strategy of Quebecor World Inc. (the "Company"), may constitute forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Canadian securities legislation and regulations. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "will," "expect," "intend," "estimate," "anticipate," "plan," "foresee," "believe" or "continue" or the negatives of these terms or variations of them or similar terminology. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct. Forward-looking statements do not take into account the effect that transactions or non-recurring or other special items announced or occurring after the statements are made have on the Company's business. For example, they do not include the effect of dispositions, acquisitions, other business transactions, asset writedowns or other charges announced or occurring after forward-looking statements are made.
Investors and others are cautioned that undue reliance should not be placed on any forward-looking statements. For more information on the risks, uncertainties and assumptions that could cause the Company's actual results to differ from current expectations, please refer to the Company's public filings available at www.sedar.com, www.sec.gov and www.quebecorworld.com. In particular, further details and descriptions of these and other factors are disclosed in the "Risks and Uncertainties related to the Company's business" section of the Company's Management's Discussion and Analysis for the year ended December 31, 2006, and the "Risk Factors" section of the Company's Annual Information Form for the year ended December 31, 2006.
The forward-looking statements in this press release reflect the Company's expectations as of April 2, 2008 and are subject to change after this date. The Company expressly disclaims any obligation or intention to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by the applicable securities laws.
Quebecor World Inc. is currently subject to Court protection under the Companies' Creditors Arrangement Act (Canada), and various U.S. subsidiaries have filed petitions under Chapter 11 of the U.S. Bankruptcy Code.
About Quebecor World
Quebecor World Inc. (TSX:IQW) is a world leader in providing high-value, complete marketing and advertising solutions to leading retailers, catalogers, branded-goods companies and other businesses with marketing and advertising activities, as well as complete, full-service print solutions for publishers. The Company is a market leader in most of its major product categories, which include advertising inserts and circulars, catalogs, direct mail products, magazines, books, directories, digital premedia, logistics, mail list technologies and other value-added services. Quebecor World has approximately 28,000 employees working in more than 115 printing and related facilities in the United States, Canada, Argentina, Austria, Belgium, Brazil, Chile, Colombia, Finland, France, India, Mexico, Peru, Spain, Sweden, and Switzerland.
Web address: www.quebecorworld.com
For more information, please contact
Quebecor World Inc.
Tony Ross
Vice President, Communications
514-877-5317
800-567-7070
or
Quebecor World Inc.
Roland Ribotti
Vice President, Investor Relations and Assistant Treasurer
514-877-5143
800-567-7070
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