PaperlinX puts red pen through UK ops
The industry’s largest paper merchant has released its strategic review with a further 35% corporate costs reduction for 2013, accounting for approx A$12.5 million or less than 0.4% of projected turnover.
PaperlinX continued its top-end shuffle by disbanding its global marketing and HR functions, and transferring ongoing functions to operating divisions. James Orr, EGM corporate affairs and company secretary, will depart from the PaperlinX ranks at the end of June after six-years with the company. Michelle Wong will over his role of company secretary, reporting to Wayne Johnston who takes on the responsibility as EGM corporate services in addition to his role as deputy CFO.
The merchant group also announced the closure of its UK-based corporate office in Milton Keynes, as CEO Toby Marchant and new CFO Richard Barfield move to the company’s UK offices in Northampton.
Commenting on the changes, Marchant said: “Minimising corporate overheads is a key element of the Strategic Review, and these changes are a next step.”
In April, Marchant told Print21 the biggest threat to the company was the European economy, since 70% of the business comes from that market. In three years the company’s paper focus will be halved as it positions itself as a broad-based material supplier.