US-based flexible packaging and pressure sensitive materials maker Bemis has decided to shut down two additional North American plants this year as part of its facility consolidation programme.
The company will shut down its Newark, California, plant in May and its Toronto facility in December.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
According to plasticsnews.com, the closure of the two facilities will bring the total number of shuttered facilities to five.
Earlier, the firm announced it would close three facilities including Oshkosh, Wisconsin, Flemington, New Jersey, and a plant in Longview, Texas, by the end of May.
The production work at the facilities is expected to be transferred to larger Bemis-owned facilities, the firm said.
The packaging producer acquired the facilities in 2010 when it bought the Food Americas operations of Alcan Packaging from Rio Tinto of London for $1.2bn.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataThe North American packaging film maker owns 82 global manufacturing sites and spent $38.4m on consolidation-related activities in the fourth-quarter of 2011. It will spend approximately $45m over the next 15 months, according to its 2011 Q4 report.
The company has registered annual net sales of $5.32bn in 2011, up 10.1% compared to $4.84bn in the last fiscal year.
Net sales in the fourth quarter of 2011 stood at $1.27bn, up 1.7% from $1.25bn compared to the corresponding period a year ago; acquisition of related business units drove net sales by nearly 1.8% in the same period.
