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47 jobs lost in $9m Fergies sale

Wednesday, 09 May 2018
By Print21

Printcraft, Links Avenue North, Eagle Farm.

Forty-seven print workers are out of a job after the sale of Brisbane-based Fergies Print & Mail to neighbouring business Printcraft for a rumoured $9 million.

“It certainly came as a huge surprise to the workers that the site had been sold,” said Daniel Dougherty, Queensland print division secretary, AMWU. “Everyone was called to a meeting at 12 o’clock and told they’d be leaving the company within the hour. By 1 o’clock, 47 workers were unemployed. It was a shock for them and many didn’t even get a chance to say goodbye to each other.”

Printcraft is keeping on about five former Fergies staff members, one of them a 10-colour printer specialist.

Dougherty said those leaving have been given redundancy settlements put together by a private accountant. “They’ve received their entitlements in a redundancy agreement and were told: ‘If you have any concerns, talk to the accountant.’

“A lot of the guys were long-term employees with 20, 25 years and they’ve lost everything,” Dougherty said. “It’s a tight market with not many jobs out there and it’s very hard to find work in the printing sector at that age. News Corp made about 45 print workers redundant in the newspaper sector about a year ago and PMP keeps chipping away at staff numbers across the country.”

Print veteran John Ferguson sold Fergies Print & Mail to Printcraft late last month after more than 51 years at the family company that was established by his great grandfather in 1868.

The surprise deal was announced in a statement on the former Fergies website, which now links directly to Printcraft.

On Friday the 27th of April 2018, Fergies Print & Mail was purchased outright by Printcraft Qld Pty Ltd. As the largest privately owned print, mail and logistics operation in Queensland, Printcraft is proud to provide print based communication solutions to both the Brisbane and NSW markets. We’re excited about the future and the possibility of working with your business.

The deal was said to be worth about $9 million, according to one source.

 

 

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