Quebecor World extends deal with Simon & Schuster
TORONTO, May 6 (Reuters) - Quebecor World Inc IQW.TO, the commercial printer restructuring under court protection from creditors, said on Tuesday it has won a contract extension with book publishing giant Simon & Schuster Inc.
The company said the deal runs through 2015 and, at current levels, will see Quebecor World print and bind more than 100 million books a year at its six book plants in the United States.
The terms of the deal were not disclosed. Simon & Schuster is a part of CBS Corp (CBS.N).
Last week, Quebecor World said it will shed 700 jobs at plants in Canada and the United States as it continues to clamp down on costs.
Quebecor World, which filed for court protection in late January, is controlled by Montreal-based publishing and media group Quebecor Inc (QBRa.TO)(QBRb.TO).
Quebecor World has about 28,000 employees around the world and prints products such as magazines, books and advertising materials.
Its shares were up 4 Canadian cents at 27 Canadian cents on the Toronto Stock Exchange early on Tuesday afternoon. About a year ago, they were trading at C$15.50 each.
($1=$1.00 Canadian) (Reporting by Wojtek Dabrowski; editing by Peter Galloway)
