IPMG Warwick Farm site still years away

Completion of IPMG’s supposed gravure greenfield plant in Warwick Farm, Sydney, is still a long way off.

In an interview with the Australian Financial Review this week, Michael Hannan, group managing director of IPMG, said that the print centre would not be completely finished for “a number of years.”

“It’s a big project for us. It will come online progressively in multiple stages and will be in a position to meet client and industry demand within 18 months,” he said.

“That initial stage will be fully operational within 24 months.”

The article also noted that IPMG’s revenue had increased by 1.4 per cent to $508.7 million for the 2009-10 financial year. Profit was up to $2.4 million, an improvement on 2008-09’s result, which saw a loss of $77 million.

According to Hannan, IPMG’s printing division, which claims to have the capacity to print over 378 billion pages annually, performed well. “The overall results disguises a commendable result from the printing companies in what was a pretty poor year for print volumes and in an industry that had too much spare capacity,” he said.