Toronto Star enters agreement with Transcontinental Printing
The Toronto Star inked a deal with Transcontinental Printing to to print the daily newspaper. The agreement between Canada’s largest daily newspaper and the country’s largest printer is for a term of five years with a possible extension, with services expecting to commence in July 2016.
The deal will result in the shut down of the Star’s existing printing plant in Vaughan, affecting up to 285 in staff. The Star has begun working with unions that represent affected staff to develop a transition plan.
Torstar Corporation expects the costs of the transition and related expenses, which will be recorded as a restructuring charge in 2016, to be be in the range of approximately $22 million. The annualized operating savings are expected to be in the range of approximately $10 million upon complete transition. Along with this decision Torstar will begin the evaluation of selling the existing printing facility and land in Vaughan. This property includes approximately 43 acres of land, of which roughly half is subject to a hydro easement, and a 675,000 square foot printing facility.
“This decision represents another important step forward in the evolution of the Toronto Star,” said David Holland, President and CEO of Torstar Corporation. “After consideration of many factors, we feel we are making this move at the right time with terms that are attractive.”
“Transcontinental Printing has newer, more modern presses and this decision will result in our very loyal print readers and subscribers receiving a high-quality print product with enhanced reproduction,” John Cruickshank, Publisher of the Toronto Star and President of Star Media Group.
Fineline Printing Creates New Jobs with Expansion at Indianapolis Facility
The certified minority-owned business will invest $3.79 million to expand its 53,000-square-foot manufacturing facility at 8081 Zionsville Road on Indianapolis’ northwest side. As part of its growth, the company will add an additional 18,000 sq. ft. to its facility and install new printing equipment to meet growing demand nationwide from the health care industry for printed materials including provider manuals and open enrollment materials.
“Empowered by the business climate built here in Indiana, Hoosiers are embracing our state’s entrepreneurial spirit and building their own operations from the ground up,” said Jim Schellinger, president of the Indiana Economic Development Corp. “Fineline’s story is one of countless homegrown companies across the state, and it’s exciting to see that they’ve decided to continue their growth here by hiring more Hoosiers.”
Fineline, which currently employs more than 60 full-time associates, has already begun hiring for management, administrative and production positions. In addition, the company is working with the Indiana-based nonprofit computer programming school Eleven Fifty Academy to hire information technology associates to write code that will automate data handling and streamline production processes from order entry to product fulfillment. Interested applicants may apply online at the company’s website.
“After immigrating from Argentina 50 years ago, I chose Indiana as the home of Fineline Printing Group because of its unique opportunities in geography, nation-wide distribution and strong economic integrity as a state,” said Richard Miller, president of Fineline Printing Group. “We are honored at the opportunity to further contribute to the economic growth of Indiana, both in continued organizational growth and the experienced services we provide clients and meaningful job opportunities for Indiana residents.”
Founded in 1981, Fineline serves universities, health care organizations and nonprofits across the country with comprehensive printing and fulfillment services. Named a 2015 Company to Watch by the Indiana Office of Small Business and Entrepreneurship, Fineline provides clients with managed print services, mailing and fulfillment services, promotional products and apparel. Fineline currently produces one million pieces of mail per month and processes 100 orders per week for more than 300 clients.
The Indiana Economic Development Corp. offered Fineline Graphics Inc. up to $125,000 in conditional tax credits and up to $30,000 in training grants based on the company’s job creation plans. These incentives are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. The city of Indianapolis supports the project at the request of Develop Indy, a business unit of the Indy Chamber.
“Indianapolis is thriving, thanks in large part to home-grown companies that are expanding their successful operations here,” said Indianapolis Mayor Greg Ballard. “I am delighted to welcome Fineline Printing to the list of local businesses that are looking to 2016 as a year to grow and employ even more members of our talented workforce.”
Fineline is latest Hoosier small business to announce expansion plans in Indiana, joining firms such as Kinney Group, ACE Technologies and Policy Stat. Earlier this year, the Pacific Research Institute, a non-partisan, non-profit think tank, ranked Indiana as the best state in the nation for small businesses based on a comparison of regulatory burdens. And last month, site selection firm Pollina Corporate Real Estate named Indiana among the top three states in the nation for doing business—both large and small—in its annual Top 10 Pro-Business States study.
Fespa Digital 2016 sells out
Fespa has announced that Fespa Digital, European Sign Expo and Fespa Textile 2016 have all sold out, with just under two months to go until doors open. Fespa Digital 2016 will take place in Amsterdam from 8 to 11 March
The event, which will take place at the RAI Exhibition Centre in Amsterdam from 8 to 11 March, will cover 42,000sqm, making it the biggest digital event to date. This year marks the 10th anniversary of the exhibition since its launch in Amsterdam in 2006.
Organisers said the European Sign Expo has exceeded all expectations, and is 250% larger than the inaugural event in 2013, while Fespa Textile 2016 is the first textile event, taking up two dedicated halls as well as a textile trail around the exhibition.
The event is set to feature more than 450 exhibitors displaying their latest products and technology across wide-format digital print, textile print, signage and printed interior decoration.
Fespa head of new media and events Duncan MacOwan said: “We added as many halls as we could and it’s now completely full. What that means is that visitors will see a really diverse range of applications, machinery and consumables that they’ve come to expect over the years.
“Looking at the conversations we have with our exhibitor base, they like that it’s a very focused event. Unlike other events out there for printers to visit, this event really is about wide-format digital printing and you’ll see exhibitors that you won’t see at other regional or global print events during the year.
“If your interest lies in digital wide-format printing, be that textiles or other substrates, then Fespa Digital and Fespa Textile are the place to be this year.”
He added: “Our core audience – people already active in this sector – are coming but what we’re increasingly seeing is people coming from other more traditional print sectors.
“More commercial printers and offset printers are coming to see the kit and the education, understand the market and to purchase kit to enter the sector. It’s still a very buoyant area.”
For more information, and to register to attend Fespa, visit: www.fespadigital.com.