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Courier Corporation Message Board

  • getthebigpixel getthebigpixel Jun 28, 2011 10:37 AM Flag


    Based upon what Quad is doing with book, I can envision CRRC becoming part of the Quad fold. Book was new to Quad via the Worldcolor acquisition. Since the acq, they are closing Buffalo, building out Martinsburg for softcover absorbing the Buffalo work. Additionally, Fairfield is now all hardcover. Chelmsford makes sense geographically as Quad has plants in Eusey and Taunton. The outlier is Kendallville, but it is defintely accessible with the normal Duplainville Transport routes. Couple this with Quad's formally unannounced refinancing and it can be rationalized. When all is said and done, they can then spin book out of the fold in 2013 or so. As the value of the CRRC declines, they become an easy target.

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