Graphic Packaging Announces Closure of Golden, CO, Plant
MARIETTA, Ga., June 17 /PRNewswire-FirstCall/ — Graphic Packaging International, Inc., a subsidiary of Graphic Packaging Holding Company (NYSE: GPK), today announced that it plans to close its Golden, CO, plant. The Company will transition business and equipment from Golden to other U.S. operating locations. The closure of the Golden facility reflects the Company’s ongoing efforts to align its manufacturing footprint to the changing needs of its beverage customers and improve its cost structure and margins to better position it for future growth.
“While closing the Golden facility is a difficult decision, it is necessary to ensure that we are able to consistently serve our customers and meet their changing needs from a solid network of efficient, low-cost manufacturing facilities, even in the face of the ongoing economic challenges of today’s marketplace,” said David Scheible, President and Chief Executive Officer. “In the long run, we expect this move to help us better align ourselves with our customers’ evolving manufacturing footprints and maximize our operational effectiveness as we focus on growing our business.”
Any statements of the Company’s expectations in this press release constitute “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Such statements, which include statements regarding production shutdowns, facility closures and transition of business to other locations, are based on currently available information and are subject to various risks and uncertainties that could cause actual results to differ materially from the Company’s present expectations. These risks and uncertainties include, but are not limited to, the Company’s ability to implement its business strategies, including productivity initiatives and cost reduction plans, and the impact of regulatory and litigation matters. Undue reliance should not be placed on such forward-looking statements, as such statements speak only as of the date on which they are made and the Company undertakes no obligation to update such statements. Additional information regarding these and other risks is contained in the Company’s periodic filings with the SEC.
About Graphic Packaging International, Inc.
Graphic Packaging International, Inc., a subsidiary of Graphic Packaging Holding Company (NYSE:GPK), headquartered in Marietta, Georgia, is a leading provider of paperboard packaging solutions for a wide variety of products to food, beverage and other consumer products companies. The company is one of the largest producers of folding cartons and holds a leading market position in coated-recycled boxboard and specialty bag packaging. The company’s customers include some of the most widely recognized companies in the world. Additional information about Graphic Packaging, its business and its products is available on the company’s web site at www.graphicpkg.com.
SOURCE Graphic Packaging International, Inc.