Wallace Closing Sites to Cut Costs
Six of the company's commercial print manufacturing centers, one kitting and fulfillment center and one multi-use facility are to close, and its work force of 8,200 employees is to be reduced 10 percent.
The commercial print manufacturing facilities in Charlotte, NC, and Silver Spring, MD, will be merged with other facilities, while those in Austin, TX, New Orleans and Rochester, NY, will shut down. The sixth, specializing in targeted communications, and the kitting and fulfillment center, both in Elk Grove, IL, will be closed and merged with other Illinois facilities.
The multi-use facility, located in Lodi, CA, will be phased out over several months, with its production and distribution services merged with other locations in California. Reductions also will include disposal of underused equipment and other unspecified projects, the company said.
About $13 million in annual savings is expected, the company said. In December, Wallace will release the results from its fiscal first quarter that ended Oct. 31.