Mail-Well Shakeup Includes Plant Closings
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The company also announced that it will close nine U.S. plants and fold the assets into the remaining 27 envelope operations. The consolidation plan is expected to provide estimated annual operating savings of $38 million when fully implemented. The one-time cash cost of the consolidation will be $43 million in 2001 and $4 million to complete the consolidation in 2002.
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