If Wednesday was one to instill confidence, today's final day of the Publish Asia conference in Kuala Lumpur brought home all the instabilities and insecurities which had brought many delegates here in the first place.
Catalogue and magazine printer PMP is shutting its heatset plant in Salisbury South, South Australia, and decommissioning a manroland Rotoman 8 press at Wacol in Queensland, as part of process to improve its underperforming print business.
Richard Allely, the chief financial officer who took on the role of acting chief executive folloiwing the departure of Brian Evans at the end of January, says the decision was taken to ensure PMP was in the best possible position to meet future challenges.
“We expect increasing price pressure as the worsening economic conditions reduce demand in an already highly competitive market,” he says. “Optimising PMP Print’s most reliable and best performing presses will deliver much needed cost reduction benefits in the second half of the year.”
The company says 76 positions will be made redundant, primarily on a voluntary basis. PMP Print will work with local management, employees and unions over the coming weeks to support all staff while the closures take effect.