Quebecor World plans to use its procurement business to build an online marketplace for all commercial printers and suppliers. To start the process, Quebecor is converting its $1-billion global procurement facility in Switzerland into a new company with e-commerce capabilities.
The idea was presented at an annual shareholders meeting in Montreal Tuesday. Plans call for four to eight partners that will eventually bring the marketplace public.
The international printing conglomerate claims that 4% of its fourth-quarter growth can be credited to its online presence. The company also reported first quarter profits of $38 million, up from $23 million for the same quarter last year. Revenue was $1.6 billion for the quarter. The increases are in part the result of a boom in catalog and magazine publishing.
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