Supremex Inc. is closing its Saint-Hyacinthe facility, acquired as part of the Impression Paragraph Inc. transaction completed earlier this year. Production of packaging products carried out in Saint-Hyacinthe will be transferred to existing packaging facilities in the Montreal area. The facility employs 28 workers, some of which could be relocated within the Company’s existing operations. In connexion with this announcement, Supremex will record a non-recurring restructuring charge of approximately $2.8 million before taxes in its Q4 financial results.
Supremex also announces the departure of Simon Provencher, President of the Packaging segment. Following his departure, the Company revamped its Packaging management structure under which three general managers will be responsible, respectively, for folding carton, e-commerce, and the commercial printing activities. They will report directly to the President and CEO.
These initiatives are expected to result in annual cost savings of approximately $1.5 million once all measures are implemented.
Supremex is a leading North American manufacturer and marketer of envelopes and a growing provider of paper-based packaging solutions. Supremex operates ten manufacturing facilities across four provinces in Canada and six manufacturing facilities in four states in the United States employing over 1,000 people.
