13.07.2007 – 16:30
Gruner + Jahr extends its printing capacity in the U.S. by investing $38 million in its Brown Printing subsidiary
50th anniversary celebration
Gruner + Jahr's American offset printing subsidiary, the Brown Printing Company (BPC) is celebrating its 50th anniversary on July 13 in Waseca, Minnesota. In the lead-up to the anniversary, the G+J executive board has approved a $38 million investment in expanding the BPC plant in Woodstock, Illinois, to increase BPC?s capacity. The money will be used among other things to buy a two-web 64-page offset rotation printer, an adhesive binder, a gang-stitcher and a new building annex. The new production facilities are scheduled to take up operation in summer 2008.
G+J had invested $55 million in expanding the printing capacity in Waseca as recently as 2005.
Dr. Bernd Kundrun, CEO Gruner + Jahr: "Our Woodstock investment strengthens the competitiveness of our successful Brown Printing subsidiary. BPC has delivered an excellent operating performance for years, generating solid profits in the process. The printing business continues to play an important role in the Gruner + Jahr portfolio, both in the U.S. and in Europe, with our stake in PRINOVIS."
In 2006, BPC generated $400 million in revenues with its 2,600 employees at plants in Waseca (Minnesota), Woodstock (Illinois) and East Greenville (Pennsylvania). BPC is currently the fourth-largest magazine and catalog printer in the U.S. market; its client list includes Time Inc., Meridith, Bauer and Ikea.
Contact: Alexander Adler Vice President/Media Relations Phone: 040 / 3703 2244 E-Mail: firstname.lastname@example.org
Original content of: Gruner + Jahr GmbH, transmitted by news aktuell