MONTREAL, CANADA -- (Marketwire) -- 08/07/08 -- Quebecor World Inc. (TSX: IQW) today announced it has reached a new 7-year agreement valued at approximately $45 million with Canada Wide Media Ltd to print Magazines and Periodicals for the Vancouver-based publisher. The agreement includes renewal work on titles such as BC Business, Westworld Publications, BC Home, Alberta Home, Gardenwise and Granville Magazine.
"Quebecor World's dedication to quality and service was a key contributing factor in partnering with them for another 7 years", said Peter Legge, Chairman and CEO Canada Wide Media. "Our business was built on print over 30 years ago and this partnership renewal with Quebecor World shows our commitment to the importance of printed media in the Canadian marketplace. We look forward to working with Quebecor World as we actively pursue our growth objectives over the next 7 years".
"We are pleased to extend our long term partnership with Canada Wide Media" said Jacques Mallette, President and CEO of Quebecor World Inc.
"Our ability to provide an unparalleled service approach allows us to deliver the value and quality an independent industry publishing leader such as Canada Wide Media Ltd demands" said Antonio Galasso, President of Quebecor World Canada.
Quebecor World's Canadian division is one of the leading magazine print and related service providers in Canada. The company provides complete premedia, print, distribution and mailing services across the country for publishers in the consumer, B2B, Association, City and Regional Magazine markets.
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 "Risk Factors" section of the Company's Management's Discussion and Analysis for the year ended December 31, 2007.
The forward-looking statements in this press release reflect the Company's expectations as of August 7, 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.
The Company 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 Canada Wide Media Limited
Canada Wide Media Limited (CWM) is one of the largest Independent Publishers in Canada producing a diverse range of media services and products, ranging from high-end printed publications to the latest in digital media. The company produces self owned publications as well as produces contract publications for leading companies that inform, entertain and inspire people of all ages and cultures around the world. CWM's corporate headquarters are located in Burnaby, British Columbia.
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 24,000 employees working in more than 100 printing and related facilities in the United States, Canada, Argentina, Brazil, Chile, Colombia, India, Mexico, and Peru.
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