Sonoco is set to enter into consultation with the workforce regarding the closure of the Carrickmacross packaging facility in Ireland.
Expected to close in November, the plant manufactures thermoformed packages for food processors, mainly for Ireland and other parts of Europe.
Sonoco Plastics thermoforming vice president and general manager Jeff DiPasquale said that the company will work to ensure that the closing of the packaging facility happens smoothly.
"Due to shifting market conditions and a financially-challenging competitive environment, we have made the difficult decision to consider the shutdown of operations at our Carrickmacross packaging plant," DiPasquale said.
Sonoco decided to close the plant after experiencing a loss of volume and profitability for the past few years, which has continued through 2013.
Sonoco Europe rigid paper and plastics operations vice president Sean Cairns said: "In the eventuality that this closure takes place, we are committed to working with each and every Sonoco employee affected by this decision. We would provide eligible employees with competitive severance, outplacement services and support in finding alternate employment."
In the event the plant closes, Sonoco does not expect the first reduction in jobs to occur until October. The company will then downsize operations gradually and aim to close the plant on 1 November.
Sonoco has annualised net sales of approximately $4.8bn.
Image: Sonoco decided to close the packaging plant as it had been experiencing a loss of profitability over the past several years. Photo: courtesy of Sonoco.