Standard Register Plans Plant Closing as Sales Results Drop
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Officials say these actions are expected to result in a first quarter 2000 restructuring charge in the range of $15 million to $18 million comprised of asset write-downs and cash closing costs. Annual savings will recover the cash closing costs in less than one year, officials add.
"We're committed to delivering the business documents and information management solutions our customers need to excel," notes Standard Register President and CEO Peter S. Redding. "The combined result of these actions is a stronger, more responsive and more profitable Standard Register."
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