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BRIEF-Torstar Announces Closure Of Hamilton Printing And Mailroom Operations At 44 Frid Street

Published 2019-05-24, 06:01 a/m
BRIEF-Torstar Announces Closure Of Hamilton Printing And Mailroom Operations At 44 Frid Street
TSb
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May 24 (Reuters) - Torstar Corp TSb.TO :

* TORSTAR ANNOUNCES CLOSURE OF HAMILTON PRINTING AND MAILROOM OPERATIONS AT 44 FRID STREET

* TORSTAR CORP - DECISION WILL AFFECT APPROXIMATELY 73 FULL-TIME AND 105 PART-TIME STAFF.

* TORSTAR CORP - MOVE IS EXPECTED TO RESULT IN SAVINGS OF APPROXIMATELY $4 MILLION TO $6 MILLION ANNUALLY ONCE FULLY IMPLEMENTED.

* TORSTAR CORP - EXPECTS TO RECORD A RESTRUCTURING CHARGE IN RANGE OF APPROXIMATELY $6 MILLION IN CONNECTION WITH CLOSURE.

* TORSTAR CORP - TORSTAR HAS ALSO EXTENDED ITS PRINTING ARRANGEMENTS WITH TC TRANSCONTINENTAL PRINTING TO 2024.

* TORSTAR CORP - WILL COMMENCE EXPLORATION OF SALE OF HAMILTON PROPERTY.

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