Quebecor completes non-core disposals

Quebecor World has sold its stake in Quebecor Merrill Canada (QMC), concluding its divestiture of non-core assets.

The 51% share has been bought by financial document services group Merrill Corporation, which now owns 100% of QMC. The division has offices in Montreal, Toronto, Calgary and Vancouver.

Quebecor sold five US operations for 40m in December and six Canadian divisions for 26m in November.

*The management at Quebecor World's Corby plant is in talks with Amicus GPMS over possible job cuts. The firm declined to comment on the number of positions involved. The move follows 380 redundancies last year following the loss of the Associated Newspapers supplement contract.