Caraustar Industries, Inc. (Nasdaq: CSAR) today announced the closure of its Lafayette Paperboard mill in Lafayette, IN. The Lafayette mill is an uncoated recycled boxboard (URB) manufacturing facility with an annual capacity of 64 thousand tons.
Associated with this mill closure, the company will record a pre-tax charge of approximately $9.3 million, of which approximately $7.9 million will be non- cash. This rationalization is expected to generate an estimated $5.0 million in annual pre-tax savings. The closure of the Lafayette mill will affect approximately 73 salaried and hourly employees. (Caraustar)
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