Fort Dearborn today announced that it has signed a definitive agreement to acquire NCL Graphic Specialties. The transaction is subject to the fulfillment of certain conditions and is expected to close by the end of the year. “As the largest cut and stack label supplier in North America, the acquisition of NCL would provide us additional capacity and would expand our footprint in the Midwest. The proposed acquisition would also enhance our product offering with promotional printing capabilities and enter us into the flexible packaging market,” said Fort Dearborn CEO Kevin Kwilinski. “With the anticipated addition of NCL, we’ll have an expanded breadth of products and services to better serve all of our customers.” Click Read More below for additional information.
“Since the beginning of the COVID-19 outbreak, said François Olivier, President and Chief Executive Officer of TC Transcontinental, our focus has been to contribute responsibly to the global effort to halt the pandemic, protect the health of our employees and their families, and ensure the safe continuity of our operations. We have deployed preventive measures across the company and I am thankful to our management and our employees for their dedication to health and safety, and for their work to support our clients’ businesses.”
In the Packaging sector, which represents about half of our revenues, the vast majority of our operations supports the vital food industry, a sector considered critical by governments. While some of our other verticals are experiencing a decrease in volumes due to government restrictions or the economic slowdown, our verticals related to food are running at high capacity.
In the Print sector, the measures announced by the Governments of Ontario and Québec to close all non-essential businesses and services as of midnight on March 24, for two weeks in Ontario and three weeks in Québec, are resulting in a significant temporary reduction in printing activities, and approximately 1,600 temporary layoffs. TC Transcontinental otherwise continues, as requested by governments, to serve its clients in businesses and services identified as essential.
Early on, we activated our crisis unit and actively deployed our company-wide crisis management and communication plan. Senior management reviews the situation daily, addresses the issues raised by our managers and employees, undertakes new preventive actions and updates our safety guidelines as needed. Safe and responsible behaviours such as minimizing movements, imposing quarantines, maintaining social distance, and maintaining a clean work environment have helped us to offer a safe and secure environment within our facilities.
“We know it is our duty to contribute to the collective effort. We support governments in their actions, as well as our clients who deliver essential services. We hope that the public health measures will be followed and have the desired effect, and that a return to normalcy will take place soon,” concluded François Olivier.