R.R. Donnelley completes spin-off of its publishing and retail-centric print services
LSC Communications starts life as a separate Chicago-based company, and will begin trading on the New York Stock Exchange under the ticker symbol ‘LKSD’
CHICAGO, Ill. – October 3, 2016 — LSC Communications, Inc., a global leader in traditional and digital print, print-related services and office products with $3.7 billion in annual revenues, today announced that it has begun operating as a standalone public company following the completion of its tax-free spin-off from R.R. Donnelley & Sons Company (NYSE:RRD). Starting today, LSC will begin “regular-way” trading on the New York Stock Exchange (“NYSE”) under the ticker symbol “LKSD.”
“We are excited about the future of LSC and the opportunities we have as an independent company,” said Thomas J. Quinlan III, LSC’s Chairman and Chief Executive Officer. “LSC has a strong heritage, and we look forward to creating an even better future by continuing to leverage our competitive advantages, including significant scale, long-standing customer relationships and a track record of innovation within our diverse product and service profile. We believe our separation from RR Donnelley will benefit all aspects of LSC’s business and enable us to further refine our focus on our customers’ distinct strategic priorities, as well as our own.”
The Company is focused on creating stockholder value through business strategies and objectives that include further expansion into end-to-end supply chain management; driving growth in core and related businesses; building on market positions through expansion of office products brands; maintaining focus on cost structure and selectively pursuing strategic acquisitions.
With a portfolio of customer-focused solutions that serve the needs of publishers, merchandisers and retailers worldwide, LSC’s offerings include print, office products, e-services, warehousing, fulfillment services and supply chain management. The Company’s robust platform provides the scale to maximize efficiencies and lower total overall costs for customers.
Since September 21, 2016, LSC shares have been traded on a “when issued” basis under the symbol “LKSD.WI.” The “when issued” trading of LSC shares ended at the close of the market Friday, September 30th. LSC currently has approximately 32.4 million shares outstanding.
The Company also announced that its Board of Directors has set May 18, 2017 as the date for the 2017 Annual Meeting of Stockholders. Additional information about the time, place and record date for this meeting will be announced by LSC in early 2017.