Quad/Graphics, Inc. announced that it intends to vigorously defend its proposed acquisition of LSC Communications (“LSC”) in response to the U.S. Department of Justice’s (“DOJ”) lawsuit seeking to block the acquisition. The all-stock transaction was announced on October 31, 2018, and was approved by shareholders of both companies on February 22, 2019. Quad intends to work together with LSC to contest the DOJ’s allegations. “We believe the acquisition of LSC will result in time- and cost-saving opportunities for clients while protecting jobs for employees. We also believe that the business combination will create a highly efficient print manufacturing and distribution platform that will strengthen the role of print in an increasingly multichannel media world that is dominated by digital advertising,” said Joel Quadracci, Quad Chairman, President & CEO. “We are fully committed to defending the DOJ’s lawsuit in court. We believe the combination of Quad and LSC is the best outcome for all stakeholders and that the DOJ’s attempt to stop the transaction will unfavorably impact our clients, our employees, and the print industry.” Click Read More below for additional information.
Arandell Corp. President and CEO Bradley Hoffman issued the following statement today regarding the decision to close the company’s Kentucky facility as a result of business disruption resulting from the economic impacts of COVID-19: This week, we made the difficult decision to close our Kentucky facility as a result of the economic disruption resulting from the COVID-19 pandemic.
Prior to COVID-19, Arandell had been on pace for a strong year and Arandell Kentucky was playing a key role in that growth and success. Unfortunately, the pandemic has had a significant impact on our customers – many of whom have experienced closures, supply chain disruptions and complications from stay-at-home orders. These challenges have affected our production schedules which has led to this week’s difficult decision.
Arandell will be consolidating production to its facility in Wisconsin, which will best position the company to continue to meet customer needs while positioning us for long-term success. Our Kentucky facility will ramp down production in the coming weeks, closing operations by July 31, 2020.
I am extraordinary grateful for our team in Kentucky, which had helped establish an exceptional operation over the last two years. We will be working with our employees in Kentucky to offer assistance in continuing employment in Wisconsin and hope many decide to stay with us. We will also do everything we can to ease the transition for our employees who choose not to make the move to Wisconsin.