TC Transcontinental announces the optimization of its printing platform in Atlantic Canada
Montréal, November 21, 2019 – TC Transcontinental (TSX: TCL.A TCL.B) announced today the closure of its Transcontinental Prince Edward Island plant located in Borden-Carleton by the end of January 2020 at the latest, and a reorganization of activities at its Transcontinental Halifax plant. This decision is in line with the Corporation’s strategy to continuously optimize its printing platform, adjusting the capacity and costs to business volumes.
“We conducted an analysis of our printing operations in Atlantic Canada and regretfully concluded that volumes at Transcontinental Prince Edward Island did not justify keeping the plant running,” said Brian Reid, President of TC Transcontinental Printing. “Together with our customers, we will assess alternate printing solutions available to them – either within TC Transcontinental’s network or with another provider. Our goal is to do everything possible to support them in their transition.”
The decision to optimize TC Transcontinental’s printing platform in Atlantic Canada unfortunately results in about 15 permanent layoffs. The Corporation has ensured that employees will be supported through their career transition.
Mr. Reid added: “We want to sincerely thank all the employees affected by this decision in Borden-Carleton and Halifax for their exemplary work over the years and wish them the best moving forward.”
About TC Transcontinental
TC Transcontinental is a leader in flexible packaging in North America, and Canada’s largest printer. The Corporation is also positioned as the leading Canadian French-language educational publishing group. For over 40 years, TC Transcontinental's mission has been to create products and services that allow businesses to attract, reach and retain their target customers.
Respect, teamwork, performance and innovation are the strong values held by the Corporation and its employees. TC Transcontinental's commitment to its stakeholders is to pursue its business activities in a responsible manner.
Transcontinental Inc. (TSX: TCL.A TCL.B), known as TC Transcontinental, has over 9,000 employees, the majority of which are based in Canada, the United States and Latin America. TC Transcontinental had revenues of more than C$2.6 billion for the fiscal year ended October 28, 2018. For more information, visit TC Transcontinental's website at www.tc.tc.
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