LSC Communications, Inc Announces Actions to Strengthen Manufacturing Platform

< div itemprop=" articleBody" readability=" 97.435459782377" > CHICAGO–( < a referrerpolicy=" unsafe-url" rel=" nofollow" itemprop=" url" href=" https://www.businesswire.com/" > BUSINESS WIRE)– LSC Communications, Inc. (OTCQX: LKSD) (” LSC” or the “Company”) today revealed that it will close its production centers in Strasburg, VA, Glasgow, KY and Mattoon, IL as the Company continues to concentrate on producing footprint optimization to line up with market trends. These actions will strengthen the Company’s production platform by considerably improving and decreasing costs utilization across LSC’s production facilities. The streamlined platform will enable the Company to continue offering the market’s highest levels of quality and service to publishers of publications and brochures. The closing of the three plants is expected to be finished by July 2020, and the Company will be working carefully with customers to make sure a smooth shift.

” LSC continues to take actions to capitalize on our greatest value drivers while enhancing our platform to effectively and efficiently provide the finest items and services for our clients,” stated Thomas J. Quinlan III, LSC’s Chairman, Chief Executive Officer and President. This technique is consistent with our companywide platform consolidation and expense savings initiatives over the last numerous months as we take essential and necessary steps to reinforce LSC’s operational and monetary position.

Because the statement of the termination of LSC’s merger contract with Quad/Graphics in July 2019, LSC has actually taken a series of actions to reinforce the Company’s functional and monetary position. Consisting of today’s announcement, LSC will have closed a total of 8 facilities throughout various service sections and decreased its workforce by around 2,500 employees. Additionally, the Company has actually carried out other actions to enhance its position, consisting of the execution of new capabilities to boost its industry-leading cooperative mailing solutions, moving of essential equipment, an increased focus on technology options for particular markets and tactical modifications to LSC’s supply chain to decrease working capital requirements.

Mr. Quinlan continued, “It is constantly hard to make organisation choices that impact our staff members and the communities in which we operate, and we are dedicated to supporting staff members impacted by these closings with severance packages and shift support in addition to prospective relocation opportunities.”

About LSC Communications

— LSC Communications, Inc. (OTCQX: LKSD) (” LSC” or the “Company”) today announced that it will close its manufacturing facilities in Strasburg, VA, Glasgow, KY and Mattoon, IL as the Company continues to focus on producing footprint optimization to align with market trends.” LSC continues to take actions to capitalize on our greatest worth drivers while enhancing our platform to effectively and efficiently deliver the finest products and services for our clients,” stated Thomas J. Quinlan III, LSC’s Chairman, Chief Executive Officer and President. Since the statement of the termination of LSC’s merger arrangement with Quad/Graphics in July 2019, LSC has actually taken a series of actions to enhance the Company’s functional and financial position. All forward-looking declarations speak only as of the date of this news release and are based on present expectations and involve a number of presumptions, threats and uncertainties that could trigger the real results to differ materially from such positive declarations, consisting of threats associated with the capability of LSC Communications to carry out as expected as a separate, independent entity and threats associated with the volatility and disruption of the capital and credit markets, and negative changes in the worldwide economy.

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Readers are cautioned not to position excessive dependence on these forward-looking declarations and any such forward-looking statements are certified in their whole by reference to the following cautionary declarations. All positive declarations speak only as of the date of this news release and are based on current expectations and include a number of presumptions, threats and uncertainties that might cause the actual results to vary materially from such positive statements, including risks associated with the ability of LSC Communications to carry out as anticipated as a separate, independent entity and threats associated with the volatility and disruption of the capital and credit markets, and unfavorable modifications in the international economy. Readers are highly encouraged to read the complete cautionary statements contained in LSC’s filings with the SEC.

With a rich history of industry experience, ingenious services and service reliability, LSC Communications (OTCQX: LKSD) is a worldwide leader in print and digital media services. Our traditional and digital print-related services and workplace products serve the requirements of publishers, merchandisers and retailers all over the world. With sophisticated technology and a consultative approach, our supply chain solutions satisfy the requirements of each service by getting their content into the right-hand men as effectively as possible.