Press Release: Courier Bringing Custom Textbook Production to Brazil
North Chelmsford, MA, October 28, 2013-Courier Corporation (Nasdaq: CRRC), one of America's leading innovators in book manufacturing, publishing and content management, today announced plans to bring its pioneering technology for the production of customized textbooks to Brazil.
The move rests on a pair of agreements expected to close later this year. Under the first, Courier will acquire a 40% stake in Brazilian book manufacturer Digital Page Gráfica E Editora Ltda. for an investment of approximately $9 million. Under the second, Courier will license its proprietary custom textbook platform to Santillana, the largest Spanish/Portuguese educational publisher in the world, which has a long-term print agreement with Digital Page. The combination of Courier's custom book solution and advanced workflow systems to be implemented at Digital Page will enable Santillana to become the first publisher in the country to offer textbooks customized to the needs of individual schools.
Based in São Paulo, privately held Digital Page has established itself as the leading digital print provider for Brazil's large and rapidly growing textbook market, and it is currently the only company in the country running HP four-color digital inkjet technology dedicated to book manufacturing. It is also Santillana's largest supplier of digital textbooks in Brazil.
Santillana and Courier have been working together for over a year to adapt Courier's core customization technology to meet the needs of the Brazilian market. With its diverse mixture of public and private elementary and high schools serving more than 50 million students, Brazil presents additional opportunities beyond content customization, including the use of distinctive visual elements and cover treatments to express each school's individual identity and culture.
Replicating a proven model
"With the rapid growth of our digital business in the United States, we have known for some time that our technology and business model have tremendous potential in certain international markets as well," said Courier Chairman and Chief Executive Officer James F. Conway III. "This exciting venture in Brazil will bring powerful, proven content management and production technology to South America's largest education market. At the same time, it will bring the benefits of textbook customization and innovative design within reach of thousands of schools and millions of students."