LexisNexis to sell printing operations |
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Mon, 05 Feb 2007 17:11
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NEW YORK (AFX) - LexisNexis, a subsidiary of information services provider Reed Elsevier NV subsidiary, said Monday it agreed to sell two printing centers in Charlottesville, Va., and Conklin, N.Y., to Cadmus Communications, effective April 2.The company said almost all 90 employees in Charlottesville and 35 employees in Conklin will be offered employment through Cadmus. Affected workers who are not offered employment will be offered severance benefits.Cadmus, which is slated to become a subsidiary of Cenveo Inc. in March, has been a print supplier to LexisNexis for more than forty years.Financial terms of the agreement were not disclosed.Shares of Reed Elsevier fell 50 cents to $46.76 in morning trading on the New York Stock Exchange.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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