Newsfax to partly re-locate to make way for London Olympic Games 2012

The London Development Agency and Newsfax International Limited have today announced a relocation agreement which will safeguard around 450 jobs.
 
Newsfax – which prints the UK editions of USA Today, The Wall Street Journal Europe, The Irish Times as well as copies of The Sun and News of the World and 12 other daily newspapers at its premises within the Olympic zone – is  the largest manufacturing employer in the Olympic Park area.  
 
This agreement is a great step forward in the relocation process for the 2012 Games and long-term transformation of the area. 
 
Newsfax’s other printing sites in Stratford, London, which produce copies of the Guardian and Financial Times will not have to be moved as they are outside the Olympic zone.
 
The Agreement is one of a string of high profile deals the LDA has recently concluded with large employers in the Olympic Park zone.
 
LDA’s Chief Executive Manny Lewis said; ‘Our priority is to ensure that businesses can relocate successfully so that they can continue to make a contribution to London’s economy and support jobs. We are making excellent progress in reaching agreements with businesses, ahead of the Compulsory Purchase Order Inquiry in May and this agreement with Newsfax – one of the largest and most complex employers in the Olympic Park area – is yet another step forward.’
 
Ken Livingstone, Mayor of London said; ‘Today’s announcement, safeguarding around 450 jobs, means that the future employment locations for over half the employees affected by the Olympic plans have already been secured, more than a year in advance of the summer 2007 deadline. Considering the short time since London won the right to host the 2012 Games the LDA has worked professionally with all concerned towards achieving one of the largest land assembly projects there has ever been. This is no mean feat and the LDA are to be congratulated for such rapid progress.’
 
Tom Johnson of Newsfax International Ltd said; ‘We are relieved and delighted to have reached agreement with the LDA which is the result of intensive efforts on both sides.  The circumstances faced by local business  under the Olympic CPO were uncharted waters for us.  A robust approach from businesses affected by the project has to be combined with patience as the Code which guides parties in the CPO process sets the boundaries in determining the outcome of negotiations.‘
 
‘Because of the constant deadlines and time critical demands of the newspaper printing industry, it was crucial that we reached an agreement that allowed a seamless transition from our existing sites to the new premises.
 
“Thanks to the Agreement with the LDA, we can now look forward to a   successful relocation within London’s Lee Valley of this part of our business, which  means that we can continue to provide an excellent service to our valuable and long standing customers.’