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Courier Bringing Custom Textbook Production to Brazil



  Courier Bringing Custom Textbook Production to Brazil

Business Wire

NORTH CHELMSFORD, Mass. -- October 28, 2013

Courier Corporation (Nasdaq: CRRC), one of America’s leading innovators in
book manufacturing, publishing and content management, today announced plans
to bring its pioneering technology for the production of customized textbooks
to Brazil.

The move rests on a pair of agreements expected to close later this year.
Under the first, Courier will acquire a 40% stake in Brazilian book
manufacturer Digital Page Gráfica E Editora Ltda. for an investment of
approximately $9 million. Under the second, Courier will license its
proprietary custom textbook platform to Santillana, the largest
Spanish/Portuguese educational publisher in the world, which has a long-term
print agreement with Digital Page. The combination of Courier’s custom book
solution and advanced workflow systems to be implemented at Digital Page will
enable Santillana to become the first publisher in the country to offer
textbooks customized to the needs of individual schools.

Based in São Paulo, privately held Digital Page has established itself as the
leading digital print provider for Brazil’s large and rapidly growing textbook
market, and it is currently the only company in the country running HP
four-color digital inkjet technology dedicated to book manufacturing. It is
also Santillana’s largest supplier of digital textbooks in Brazil.

Santillana and Courier have been working together for over a year to adapt
Courier’s core customization technology to meet the needs of the Brazilian
market. With its diverse mixture of public and private elementary and high
schools serving more than 50 million students, Brazil presents additional
opportunities beyond content customization, including the use of distinctive
visual elements and cover treatments to express each school’s individual
identity and culture.

Replicating a proven model

“With the rapid growth of our digital business in the United States, we have
known for some time that our technology and business model have tremendous
potential in certain international markets as well,” said Courier Chairman and
Chief Executive Officer James F. Conway III. “This exciting venture in Brazil
will bring powerful, proven content management and production technology to
South America’s largest education market. At the same time, it will bring the
benefits of textbook customization and innovative design within reach of
thousands of schools and millions of students.”

Digital Page founder Walter Luiz Anticaglia Filho welcomed Courier’s
participation. “With our strong relationship with Santillana, we are already
well positioned to grow in the textbook market,” said Mr. Anticaglia. “By
adding Courier’s unique customization and process management expertise, we
will be able to do more than ever, both for Santillana and for all our
customers.”

“We are proud to be the first Brazilian publisher to offer a complete textbook
customization solution for schools,” said the Supply Chain Director Wilson
Troque of Moderna, a Brazilian imprint of Santillana. “Santillana has been at
the forefront of Latin American educational publishing for years, and this
step will help us continue to lead the way with the quality and service our
customers deserve.”

About Courier Corporation

Courier Corporation is America’s third largest book manufacturer and a leader
in content management and customization in new and traditional media. It also
publishes books under three brands offering award-winning content and
thousands of titles. Founded in 1824, the company is headquartered in North
Chelmsford, Massachusetts. For more information, visit www.courier.com.

About Santillana

Santillana is the leading textbook and general-interest publishing group in
Spain and Latin America, and one of the most prestigious publishers of
literary works in Spanish and Portuguese. With five decades of experience and
an international presence in 22 countries, the company has been synonymous
with quality, innovation and service to teaching staff since its inception in
1960.

The company’s presence in Brazil was consolidated with the takeover in 2001 of
the publishing house Moderna, founded in 1968 and specializing in textbooks
and education systems and services. Santillana also acquired the publisher
Editora Salamandra, specializing in children's literature. To complement its
operations in the area of education, Santillana also owns 75% of Brazilian
company Editora Objetiva, a leading publisher of general-interest titles with
a comprehensive catalog.

For more information, visit www.santillana.com.

This news release includes forward-looking statements., Statements that
describe future expectations, plans or strategies are considered
“forward-looking statements” as that term is defined under the Private
Securities Litigation Reform Act of 1995 and releases issued by the Securities
and Exchange Commission. The words “believe,” “expect,” “anticipate,”
“intend,” “estimate” and other expressions which are predictions of or
indicate future events and trends and which do not relate to historical
matters identify forward-looking statements. Such statements are subject to
risks and uncertainties that could cause actual results to differ materially
from those currently anticipated. Factors that could affect actual results
include, among others, changes in customers’ demand for the Company’s
products, including seasonal changes in customer orders and shifting orders to
lower cost regions, changes in market growth rates, changes in raw material
costs and availability, pricing actions by competitors and other competitive
pressures in the markets in which the Company competes, consolidation among
customers and competitors, insolvency of key customers or vendors, changes in
the Company’s labor relations, changes in obligations of multiemployer pension
plans, success in the execution of acquisitions and the performance and
integration of acquired businesses including carrying value of intangible
assets and contingent consideration, restructuring and impairment charges
required under generally accepted accounting principles, changes in operating
expenses including medical and energy costs, changes in technology including
migration from paper-based books to digital, difficulties in the start up of
new equipment or information technology systems, changes in copyright laws,
changes in consumer product safety regulations, changes in environmental
regulations, changes in tax regulations, changes in the Company’s effective
income tax rate and general changes in economic conditions, including currency
fluctuations, changes in interest rates, changes in consumer confidence,
changes in the housing market, and tightness in the credit markets. Although
the Company believes that the assumptions underlying the forward-looking
statements are reasonable, any of the assumptions could be inaccurate, and
therefore, there can be no assurance that the forward-looking statements will
prove to be accurate. The forward-looking statements included herein are made
as of the date hereof, and the Company undertakes no obligation to update
publicly such statements to reflect subsequent events or circumstances.

Contact:

Courier Corporation
James F. Conway III, Chairman,
President and Chief Executive Officer
or
Peter M. Folger, 978-251-6000
Senior Vice President and
Chief Financial Officer
www.courier.com
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