TPL is yet to issue an official statement, but its understood the firms four web presses, including a 48pp Heidelberg M4000, will be relocated to Australia.

The loss-making printer is owned by Singaporean media group Times Publishing. It has been the subject of intense industry speculation for the past week, with closure or a possible MBO of the 20m turnover company by local management being mooted.

Publishers looking to find new homes for titles currently printed at the plant include IPC, Haymarket, Reed and the National Enquirer.

The irony is we had a very good experience there, said IPC manufacturing director Jasper Scott.

One industry source commented: Over the past year a lot of magazine work has been moved around under price pressure. This could be the catalyst that stops price erosion in publication printing.