New Era Of Consolidation

Feinstein believes larger transactions will transpire from the likes of Moore and Quebecor World.

"I would expect Moore to replicate the series of successful acquisitions that Bob (Burton) and members of his team pursued at World Color in the mid-1990s," Feinstein says.

Quebecor World, once it has completed the debt pay down/restructuring phase stemming from its 1999 merger, will be an active participant in the second half of 2002, he adds. Feinstein expects larger transactions by both companies.