MeadWestvaco to Close MS Plant, Lays Off 125 Employees
The shutdown is expected to be completed by March. Closing it will result in the company incurring a pretax charge of $9 million to $11 million in the fourth quarter. The Greenville plant employs 125 people. Mead said its consumer packaging group supplies packaging for industries, including media and entertainment, pharmaceutical and healthcare and consumer products.
Mead has announced several closings this year, including two manufacturing plants in Springfield, MA; a consumer and office products facility in Front Royal, VA; and four coated paper machines in Chillicothe, OH, and Luke, MD.
Last week, Mead completed the sale of 95,500 acres of forest land in West Virginia for $50 million to The Forestland Group LLC for Heartwood Forestland Fund IV Ltd. Partnership.
MeadWestvaco, Stamford, CT, operates in 33 countries and has annual sales of $8 billion.