Sonoco To Shutter Ohio Packaging Plant
September 11, 2009 (FinancialWire) — Sonoco (NYSE: SON) said it will close its Orrville, Ohio, rigid paper packaging plant by March 2010. The Orrville operation employs 84 employees and manufactures fiber cartridges for adhesives and sealants.
The company acquired the plant in 2007 when it acquired the fiber containers and industrial plastic carriers assets of Caraustar Industries. The first phase of the plant’s shutdown is scheduled to begin in late November and result in the reduction of around half the workforce.
The plant will remain in partial operation until it is closed in March 2010.
company executive Howard Coker said Sonoco has been facing “significant reductions in customer orders over the past year” as a result of the nationwide recession’s impact on the housing market. Coker said that Sonoco will consolidate customer orders in the company’s other rigid paper packaging operations in the Ohio area.
Hartsville, South Carolina-based Sonoco is a manufacturer of consumer and industrial packaging products and provider of packaging services. The company has more than 300 operations in 35 countries serving customers in some 85 nations.
FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) web site (http://www.financialwire.net/disclosures.php). Contact FinancialWire(tm) directly via inquiries@financialwire.net.
Free annual reports for companies mentioned in the news are available through the Free Annual Reports Service (http://investrend.ar.wilink.com/?level=279).
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
