Montreal-based TC Transcontinental has announced the sale
of its Fremont , California
The
transaction is subject to customary closing conditions and is expected to close
during the fourth quarter of fiscal 2019.
TC
Transcontinental anticipates using the net proceeds from this sale to reduce
its debt in line with the goal of reducing its net indebtedness ratio below
2.0x by the end of fiscal year 2020, as well as to continue its transformation
with targeted acquisitions, the company said.
Hearst had
assumed printing operations at the plant in April 2018, the Toronto Star reported. The two companies had dissolved an
outsourcing agreement that started in 2009 and had Transcontinental printing
the San Francisco Chronicle for Hearst.
News and Tech
No comments:
Post a Comment
For now, we're opening this blog to Anonymous comments. This will continue as long as civility rules. Disagree as you may, just keep it clean and stay on topic. No profanity, and no name calling. We reserve the right to moderate such comments, though the person who made it may come back and reword their message in a more civil way.