Torstar Corp. says it will be closing its Hamilton printing and mailroom operations at 44 Frid St.
The closure is expected to happen on August 24 and will affect roughly 73 full-time and 105 part-time staff.
Torstar says the printing work currently done at the facility will be transferred to TC Transcontinental Printing and other Torstar-owned facilities as well as other external printers.
The company says it will also look at selling the Hamilton property. If sold, Torstar says it anticipates The Hamilton Spectator will continue to operate a head office out of a new location in the Hamilton area.
They say 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,” said John Boynton, President and CEO of Torstar Corporation in a news release. “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 newspaper publisher expects to save about $4 million to $6 million annually once the change takes place. It’s anticipated the company will record a restructuring charge of approximately $6 million in connection with the closure.