Cenveo Begins Consolidation
STAMFORD, CT—Cenveo Inc. appears to have embarked on its quest to realize $75 million in cost savings for 2006.
One of the action items cited by Robert Burton, chairman and CEO, was plant consolidation and rationalization. On December 13, Cenveo closed the doors of its Waterbury, CT, facility, according to the Waterbury Republican-American, resulting in the dismissal of 65 employees.
The newspaper also quoted Gary Myzel, estimating and purchasing manager, as saying that another Cenveo plant in Atlanta was also closed. And layoffs have been rumored at the plant's label facility in New Albany, IN.
Burton was unavailable for comment.
The company, formerly known as Craftsmen Litho, was purchased in 2000 by the former Mail-Well.
Cenveo is also parting ways with two Jacksonville, IL, facilities courtesy of an acquisition by the former owner. At press time, Joe Racey was in the process of finalizing a deal to obtain the former Production Press and its sister facility, Production Express. Racey returned the original names to the company on January 1.
Racey told the (Springfield, IL) State Journal-Register that Cenveo had informed him that Production Press would not be retained under the new leadership of Burton. Racey then offered to buy the company from Cenveo, in the process saving roughly 40 jobs.
As for Cenveo, the company did confirm that it is moving its headquarters from Englewood, CO, to offices in Stamford, CT. When Burton took leadership of then-Moore Corp. in 2000, he relocated its headquarters to Stamford.