Quebecor World Emerges From Chapter 11, Will Be World Color Press

Catalog printer Quebecor World emerged from bankruptcy protection on July 21, and will now be known as World Color Press.

According to the Montreal, PQ-based printing firm, World Color Press was previously the name of one of the merged companies that created Quebecor World in 1999.

Quebecor said in a press release that it intends to announce a renewed branding initiative during the next 60 days.

Twice during Quebecor’s 18-month restructuring, printing conglomerate R.R. Donnelley offered to purchase the company from bankruptcy.

In May, R.R. Donnelley, offered to buy Quebecor for $1.35 billion in cash and stock. In June, R.R. Donnelley upped the ante to $1.135 billion in cash and 30 million shares of common stock valued at $415.8 million.

The June offer by R. R. Donnelley also included assumption of Quebecor’s pension plan.

Quebecor filed for Chapter 11 protection in the U.S. on Jan. 21, 2008 under the Companies’ Creditors Arrangement Act, saying it would run out of cash by week’s end after a rescue-financing plan failed.

Following the filing, Quebecor received $1 billion in new senior financing from Credit Suisse and Morgan Stanley.

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