Smurfit-Stone Container Corp. will reduce costs in its containerboard mill, boxboard mill, and packaging operations…
Smurfit-Stone Container Corp. will reduce costs in its containerboard mill, boxboard mill, and packaging operations, resulting in a workforce reduction of about 1,400 employees over the next 18 months.
Among its actions, the company plans to permanently close its Thunder Bay, ON, corrugating medium mill and temporarily idle one of two paper machines at its Jacksonville, FL, containerboard mill.
The company will also permanently close one of two paper machines at its Philadelphia, PA, coated recycled boxboard mill; and continue to reduce the cost and asset base of its corrugated container and consumer packaging operations over the next 18 months, including the potential consolidation of some facilities.
The company also announced a third quarter charge for a litigation reserve.
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