(Montreal) Supremex Impression is closing a facility in Saint-Hyacinthe it acquired earlier this year as part of its acquisition of Paragraph.
Production will be transferred to Supremex facilities in the Montreal area, the company said.
The Saint-Hyacinthe plant employs 28 workers, some of whom may be replaced within the company’s current operations.
Supremex’s decision to make envelopes and other paper-based packaging will result in a one-time restructuring charge of about $2.8 million before tax factored into its fourth-quarter financial results.
The closures are part of Supremex’s efforts to improve operations in its packaging and specialty products segment. His plan would result in annual savings of about $1.5 million after all measures are implemented.
The company also announced the departure of Simon Provencher, president of its packaging sector. Mr. Supremex said it has re-examined the management structure of the sector following Provencher’s exit.
The company in this dispatch is: (TSX: SXP)
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