Transcontinental Inc. divesting assets in Dartmouth, Nova Scotia
Montreal, July 28, 2016 – Transcontinental Inc. (TSX: TCL.A TCL.B) announced today it is selling most of its commercial printing line of business operated from its Transcontinental Dartmouth plant to Advocate Printing and Publishing Company Limited, an independent printer and publisher in Atlantic Canada. This decision will result in the closure of the Transcontinental Dartmouth plant located at 140 Joseph Zatzman Drive in Dartmouth, Nova Scotia, by mid-August 2016.
TC Transcontinental will continue to serve its customers in Atlantic Canada for retail flyers, newspapers and some specific commercial products through its printing network which includes Transcontinental Halifax, Transcontinental Prince Edward Island and Transcontinental St. John's.
"In line with our market leadership objectives, we are continually reviewing our printing facilities and activities in order to maximize the utilization rate of our equipment," said Jacques Grégoire, President of TC Transcontinental Printing. "As we forge ahead with our printing platform optimization strategy, and given the shifting landscape for some commercial products, we have made the decision to dispose of our printing assets in the Transcontinental Dartmouth plant. We regret the impact of this announcement on our employees and would like to sincerely thank them for their dedication to our organization."
Unfortunately, this plant closure will result in about 55 layoffs. TC Transcontinental has ensured that employees will be accompanied in their career transition.
About TC Transcontinental
Canada's largest printer with operations in print, flexible packaging, publishing and digital media, TC Transcontinental's mission is to create products and services that allow businesses to attract, reach and retain their target customers.
Respect, teamwork, performance and innovation are strong values held by the Corporation and its employees. The Corporation's commitment to its stakeholders is to pursue its business and philanthropic activities in a responsible manner.
Transcontinental Inc. (TSX: TCL.A TCL.B), known as TC Transcontinental, has close to 8,000 employees in Canada and the United States, and revenues of C$2.0 billion in 2015.
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