Caraustar Industries, Inc. announced the closure of its Reading Paperboard mill in Sinking Spring, PA. The Reading mill is a recycled uncoated paperboard manufacturing facility with an annual capacity of 16,000 tons. Caraustar expects to consolidate all of the Reading mill's production into other existing Caraustar locations.
The close of the mill reflects the company's previously announced plans to achieve greater cost efficiencies throughout its system and better use capacity. Associated with this mill closure, the company will record a pre-tax charge of approximately $1.9 million, of which approximately $1.2 million will be non-cash.
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