Graphic Packaging International Announces Closure of Cincinnati Facility
19 Apr, 2011, 05:55 ET
MARIETTA, Ga., April 19, 2011 /PRNewswire/ -- Graphic Packaging International, Inc., a subsidiary of Graphic Packaging Holding Company (NYSE: GPK), today announced that it plans to close its beverage carton facility in Cincinnati, Ohio. The Company will transition business and equipment from Cincinnati to its operations in West Monroe, La., and Perry, Ga. The closure of the Cincinnati beverage facility, which will be completed on or about Aug. 31, 2011, reflects the Company's ongoing efforts to align its manufacturing footprint to the changing needs of its customers and to improve its cost structure and margins to better position it for future growth.
"While the closing of the Cincinnati facility was a difficult decision, it was a necessary step in our ongoing efforts to align our manufacturing footprint to the changing needs of the market," said President and CEO David Scheible. "This plan includes an expansion to the Perry site and will further capitalize on Perry and West Monroe's close proximity to the Macon and West Monroe mills, respectively."
The Cincinnati beverage carton facility will continue to operate and support customers while its business is transitioned to the Perry and West Monroe facilities over the next four months. The Company has notified its Cincinnati employees and will provide the appropriate assistance to those affected. Of course, GPI continues to work closely with its customers to ensure a smooth transition of business.
Forward Looking Statement
Any statements of the Company's expectations in this press release constitute "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Such statements, including but not limited to, statements regarding the closing of the Cincinnati, Ohio facility and the expansion of the Perry, Ga., facility are based on currently available information and are subject to various risks and uncertainties that could cause actual results to differ materially from the Company's present expectations. Undue reliance should not be placed on such forward-looking statements, as such statements speak only as of the date on which they are made and the Company undertakes no obligation to update such statements. Additional information regarding risks to the Company is contained in the Company's periodic filings with the SEC.
About Graphic Packaging International, Inc.
Graphic Packaging International, Inc., a subsidiary of Graphic Packaging Holding Company (NYSE: GPK), headquartered in Marietta, Ga., is a leading provider of paperboard packaging solutions for a wide variety of products to food, beverage and other consumer products companies. The company is one of the largest producers of folding cartons and holds a leading market position in coated-recycled boxboard and specialty bag packaging. The company's customers include some of the most widely recognized companies in the world. Additional information about Graphic Packaging, its business and its products is available on the company's web site at www.graphicpkg.com.
SOURCE Graphic Packaging International, Inc.
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