Essentra Considers Closure of Carton Plant in U.K.
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According to a BBC news report this week, about 150 jobs could be at risk under plans to close a packaging factory in Newport, U.K. Essentra's IP5 cartons plant, based at Imperial Park in Coedkernew, mainly makes gift boxes for the retail industry.
The company has previously received more than £500,000 from the Welsh Government to help expand its operations in the city, the news report noted, adding that the Welsh Government said it was "deeply disappointed" at the news.
Essentra said the site had an operating loss of £3.4 million from January to June and profitability was not set to improve.
A consultation has begun on plans to stop production at the factory and, if agreed, work would cease by the end of the year. The proposal does not impact the firm's other Newport factory, IP4, which makes labels.
