Quebecor World Inc. has emerged from bankruptcy protection in both the United States and Canada. Upon its emergence, the company changed its name to World Color Press Inc.
The new name is actually a throwback: In 1999, Quebecor World was formed when World Color Press merged with Quebecor Printing.
“The restructuring and reorganizing process has made us financially healthier and allowed us to start fresh with a strong balance sheet and a leaner cost structure,” said Jacques Mallette the company’s president and CEO. “We believe the company is now better positioned to meet the present and future competition in the industry and to create value for our stakeholders.”
The company had cancelled its previously issued stock shares, and has issued 73.2 million common shares, 12.5 million preferred shares, and more than 10.7 million series I and 10.7 million Series II warrants. The company expects to being trading its shares and warrants on the Toronto Stock Exchange within 30 days.
It also intends to announce a renewed branding initiative during the next 60 days.
