“It is with great regret that we have to announce this news but it is very clear that our Avery business had been operating with significant excess capacity and infrastructure for some time prior to the change in ownership,” said Geoffrey T Martin, president & CEO. “Operations will eventually be consolidated into existing Avery supply chain facilities located in the US, Canada and Mexico. 250 people will be affected by the change and a charge of approximately $6m will be booked in our fourth quarter financial statements as part of the overall restructuring plan that we have already announced.”
CCL Industries employs approximately 9,600 people and operates 87 production facilities in 25 countries on five continents, with corporate offices in Toronto, Canada and Framingham, Massachusetts.
Source: CCL Industries
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