(Alliance News) - Poligrafici Printing Spa announced Monday that it has received notice from its client SAE Group that it will not renew its contract for the printing of the daily newspaper "Il Tirreno," which has a three-year renewable term and will therefore cease to be effective as of Jan. 1, 2024.

As of June 30, the contract with the SAE Group had a revenue impact of 6.0 percent.

As a result of the non-renewal and in order to rationalize production costs, the company decided not to exercise its option to renew its supply contract with Servizi Stampa 2.0, relating to the printing of the daily newspaper "Il Giorno," which has a one-year term and will therefore cease to be effective as of January 1, 2024.

After this date, "Il Giorno" will be printed at production plants in Bologna and Campi Bisenzio, in the province of Florence.

As of June 30, Servizi Stampa 2.0 accounted for 7.7 percent of the company's total costs.

Poligrafici Printing on Monday closed in the green by 0.6 percent at EUR0.33 per share.

By Claudia Cavaliere, Alliance News reporter

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