R.R. Donnelley & Sons Company (NYSE:RRD) and Houghton Mifflin Harcourt Publishing Company announced today that they have entered into an $875 million multi-year Print Management agreement. The agreement expands the previous relationship between the two companies.
Houghton Mifflin Harcourt is a global education provider and the world's largest publisher of instructional materials for pre-K-12 schools.
"The Houghton Mifflin Harcourt brands stand for exceptional quality," stated Tony Lucki, Chairman and Chief Executive Officer of Houghton Mifflin Harcourt Publishing Company. "We selected RR Donnelley for this global Print Management agreement because of its ability to provide superb quality and to deliver added value by providing consultative services across the breadth of the print-related supply chain on a cost effective basis. This agreement not only draws on RR Donnelley's global platform to help us achieve an optimal mix of cost savings and responsive service, but also represents an important strategic step in an ongoing transformation that will enable us to meet our customers' needs with even greater flexibility and efficiency."
Thomas J. Quinlan III, RR Donnelley's President and Chief Executive Officer, said, "We are very pleased to have earned the continuing trust of Houghton Mifflin Harcourt Publishing Company and to expand our relationship as we provide a comprehensive print management solution. The unmatched global production and services resources that we have built are ideally suited to handling Houghton Mifflin Harcourt's varied and complex needs."
About RR Donnelley
RR Donnelley (NYSE: RRD) is the world's premier full-service provider of print and related services, including business process outsourcing. Founded more than 144 years ago, the company provides products and solutions in commercial printing, direct mail, financial printing, print fulfillment, labels, forms, logistics, call centers, transactional print-and-mail, print management, online services, digital photography, color services, and content and database management to customers in the publishing, healthcare, advertising, retail, technology, financial services and many other industries. The largest companies in the world and others rely on RR Donnelley's scale, scope and insight through a comprehensive range of online tools, variable printing services and market-specific solutions.
For more information, and for RR Donnelley's Corporate Social Responsibility Report, visit the company's web site at http://www.rrdonnelley.com.
About Houghton Mifflin Harcourt
Boston-based Houghton Mifflin Harcourt Publishing Company is a global education company and the world's largest publisher of educational materials for pre-K-12 schools. The Company publishes a comprehensive set of best-in-class pre-K--12 educational solutions, ranging from research-based textbook programs to instructional technology to standards-based assessments for students and educators. The Company also publishes an extensive line of reference works and award-winning literature for adults and young readers. With origins dating back to 1832, Houghton Mifflin Harcourt combines its tradition of excellence with a commitment to innovation. To learn more about Houghton Mifflin Harcourt, visit www.hmhpub.com.
Use of Forward-Looking Statements
This news release may contain "forward-looking statements" as defined in the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on these forward-looking statements and any such forward-looking statements are qualified in their entirety by reference to the following cautionary statements. All forward-looking statements speak only as of the date of this news release and are based on current expectations and involve a number of assumptions, risks and uncertainties that could cause the actual results to differ materially from such forward-looking statements. Readers are strongly encouraged to read the full cautionary statements contained in RR Donnelley's filings with the SEC. RR Donnelley disclaims any obligation to update or revise any forward-looking statements.
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