TORONTO, May 24, 2019 – Torstar Corporation today announced it will close its Hamilton printing and mailroom operations at 44 Frid Street on or about August 24, 2019. The printing work currently performed at the Hamilton facility will be transferred to TC Transcontinental Printing and other Torstar-owned facilities as well as other external printers. In connection with this decision Torstar has also extended its printing arrangements with TC Transcontinental Printing to 2024.
This decision will affect approximately 73 full-time and 105 part-time staff. The move is expected to result in savings of approximately $4 million to $6 million annually once fully implemented. Torstar expects to record a restructuring charge in the range of approximately $6 million in connection with the closure.
In connection with this decision, Torstar will commence exploration of the sale of the Hamilton property. If the property is sold, Torstar anticipates that The Hamilton Spectator will continue to operate a head office in a new location in the Hamilton area
Delivery of The Hamilton Spectator and other publications currently printed at the Hamilton facility will continue under their current arrangements.
“This was a difficult but necessary decision in order to operate more efficiently,” John Boynton, President and CEO of Torstar Corporation, said. “This is in no way a reflection of the print and mailroom quality at the Hamilton facility, but rather a decision based on aging presses and more cost-effective alternatives.”
“The Spectator is a strong news brand with a great history and future and we are committed to remaining in Hamiltonand fully supporting the community,” Boynton added.
“The move is expected to generate significant cost-savings, which will give us the opportunity to focus more of our efforts on creating great editorial content and engaging customers in both our print and digital news outlets,” Boynton said. “Unfortunately, though, it also means saying goodbye to our Hamilton production facility employees.”
About Torstar Corporation
Torstar Corporation is a broadly-based media company listed on the Toronto Stock Exchange (TS.B). Its businesses include the Toronto Star, Canada’s largest daily newspaper, six regional daily newspapers in Ontario including The Hamilton Spectator: StarMetro newspapers in several Canadian cities; and more than 80 weekly community newspapers in Ontario; flyer distribution services: and digital properties including thestar.com, wheels.ca, toronto.com, save.ca, a number of regional online sites and eyeReturn Marketing. It also holds a majority interest in VerticalScope, a North American vertically-focused digital media company.