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Torstar closing Hamilton printing and mailroom operations
Stacks of The Globe and Mail and the Toronto Star sit in a news stand in Toronto on April 26, 2012. (The Canadian Press/Nathan Denette)
TORONTO - Torstar Corp. says it will close its Hamilton printing and mailroom operations this summer and look at selling the property.
The newspaper publisher says the printing work done at the facility will be transferred to TC Transcontinental Printing and other Torstar-owned facilities as well as other external printers.
The decision will affect approximately 73 full-time and 105 part-time staff.
In connection with the move, Torstar says it has extended its printing arrangements with TC Transcontinental Printing to 2024.
Torstar expects to save approximately $4 million to $6 million annually once the change is fully implemented. It expects to record a roughly $6-million restructuring charge in connection with the closure.
If the property is sold, the company says it expects the Hamilton Spectator will continue to operate a head office in a new location in the Hamilton area.