Caraustar to Close Connecticut Plant
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Caraustar Industries, Atlanta, Ga., USA, reportedly intends to close its paperboard plant in Versailles and lay off 79 workers by the end of January. According to theday.com, Dave O'Hagan, VP and regional GM for Caraustar, said in a letter to the state Department of Labor that 13 salaried and 66 hourly employees would be affected by the shutdown.
"Affected employees do not have bumping rights to other locations," O'Hagan said in his letter. "It is expected that the closing will be completed on or about Jan. 30." Hourly employees at the plant are represented by the United Steel Workers Union.
According to a history of the company, Caraustar acquired the Versailles plant in 1997 when it purchased the common stock of Oak Tree Packaging Corporation. Caraustar reorganized last year as a private company after filing for Chapter 11 protection. In 2008, it reported sales of more than $800 million.
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