Independent Newspapers Announces Restructuring Plan

Independent Newspapers, the Ireland-based group which owns The Irish Independent and The Independent, announced today that it is to implement some restructuring to strengthen its business and improve its profitability.

The restructuring plan is reportedly costing the group Ir £38.5 million (£34 million), and mainly includes its overseas interests in South Africa, New Zealand and Australia.

The changes will include modernising production operations, streamlining advertising circulation and distribution activities and improving editorial share across the Group’s titles. The benefits of the plan are expected to become evident within 18 months of its implementation.

The Group is also planning to build a new printing facility at its plant in Dublin, which is expected to be operational within the next 24 months.

Chief executive of the group, Liam Healy, commented: “This restructuring plan is designed to enhance our commanding market leadership through-out our worldwide operations, and position Independent Newspapers for continued growth and prosperity in the new Millenium.”

Independent Newspapers: 00 353 1873 1666