MOD-PAC CORP. to exit Commercial Print -
Printing Industry News from WhatTheyThink:
"Strategically, we believe that focusing our resources on our traditional product lines will improve our ability to expand our market share while also creating greater operational efficiencies and reduced costs.'"
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As a result of the refined strategic focus, MOD-PAC should realize approximately $0.9 million to $1.2 million annually in improved operating results beginning in part in the third quarter of this year. It will also recognize a $2.0 million to $3.0 million charge associated with the rationalization process in the second quarter ending July 4, 2009. The majority of the charge will be non-cash related/
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Mr. Daniel G. Keane, President and CEO of MOD-PAC, noted, "We have been making measurable strides in capturing new customers for our custom folding carton product line while also expanding the level of business with existing customers. Our ability to provide high quality, short-run, on demand custom folding cartons reduces our customers costs through inventory reduction and obsolescence avoidance. This has been a driving factor in our ability to grow custom folding carton sales even in a challenged economy.
Friday, June 26, 2009
at 6:28 AM