Sonoco Mulls Irish Plant Closure

Before you go, we thought you'd like these...
Before you go close icon

While it's not a done deal just yet, consumer packaging specialist Sonoco  announced yesterday it will consult with the workforce of its Carrickmacross, Ireland, facility regarding its closure come Nov. 1.

The plant, which makes thermoformed packages for food processors in Ireland and other parts of Europe, lost volume and profitability over the past several years, a pattern that continues in 2013. Sonoco says that leaves it with no viable option other than to consider closing the facility.

Saying it's not a reflection on the levels of commitment, safety, quality, and productivity of the workers, Jeff DiPasquale, Sonoco VP and GM of thermoforming, said shifting market conditions and a financially challenging competitive environment forced its hand in the decision.


"If a shut-down of the facility is the final outcome," DiPasquale said, "we will work diligently to ensure the closing of the Carrickmacross facility goes as smoothly as possible, not only for our employees, but also for our loyal customers, with minimal disruption to the quality and service they have come to expect."

In the event the plant does shut down, Sonoco expects the layoffs won't begin until October, after which it will gradually scale back operations. The target for the plant closure is Nov. 1, but until the final decision is reached, operations will continue as normal. 

Should closure be the decision made, Sonoco will consider alternatives such as retirement, voluntary redundancies, and possible redeployment to other Sonoco operations to help minimize the impact.

The article Sonoco Mulls Irish Plant Closure originally appeared on Fool.com.

Fool contributor Rich Duprey and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners