26 June 2012 15:07 [Source: ICIS news]
TORONTO (ICIS)--Intertape Polymer plans to close a tape plant in Kentucky and transfer shrink films production from Canada to a US facility, the company said on Tuesday.
The Montreal-based producer of specialised polyolefin films and woven fabrics said it would close its tape products plant in Richmond, Kentucky, transferring the bulk of production to a facility in Carbondale, Illinois.
In addition, Intertape plans to transfer shrink film production from a plant in Truro, in Canada’s Nova Scotia province, to Tremonton, Utah. The Truro plant will continue to produce woven fabrics.
The plant closure and transfers in production are expected to result in savings of about $6m/year (€5m/year), the company said.
Intertape expects to complete the measures in late 2012 or early 2013, it said. It did not say how many workers may be affected.
“The process will be seamless to customers and we do not anticipate any significant impact on our revenues," said CEO Greg Yull.
($1 = €0.80)
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