A lot of that will need to be rerouted. That's going to add cost and time.

Commodity prices are going to go higher. We're not going to see a lot of the economic benefit of the reconstruction because of the prices.

We've pretty much cut that off.

We're not losing slack, we're losing usage capacity. That's a major hit.

With some of the best known consumer publishing brands in Europe, IPC provides Time Inc. with an important presence within the European consumer publishing sector,

We were surprised because there was no price tender and at the time we were assured we had done nothing wrong.