Robert A. Black, resident mill manager of Graphic Packaging in Middletown, said in a statement that the exact closure date will depend upon multiple business plan factors, but the facility is expected to cease operations and close on our about May 31.
“This closure is part of an ongoing plan to consolidate paperboard production into our most modern and highest-quality facilities,” said a spokesperson from Graphic Packaging.
This consolidated production is planned to go to Kalamazoo, Mich., and a new facility in Waco, Texas.
“The Middletown team...has played an important role in the company’s success, and we are focused on providing support and re-employment assistance to them,” said the spokesperson.
Graphic Packaging Holding Company is headquartered in Atlanta, Ga., and designs and produces consumer packaging made primarily from renewable or recycled materials.
In its latest earnings call, the company reported fourth-quarter earnings that did not meet analyst expectations, with adjusted earnings per share of $0.46 falling short of the anticipated $0.62. Revenue came in below projections at $2.1 billion, compared to the forecasted $2.16 billion.
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