CHICAGO, April 10, 2006 – Smurfit-Stone Container Corporation (Nasdaq: SSCC) today announced its decision to discontinue operations at its Smurfit-MBI corrugated container facility located in Pembroke, Ontario.
A total of 139 employees will be affected by this decision. The plant is tentatively scheduled to close before the end of July 2006. During the coming weeks, production will gradually be transferred to nearby Smurfit-MBI facilities.
As part of Smurfit-Stone’s strategic initiatives, announced in November 2005, the company will improve its cost profile by closing up to 20 percent of its corrugated container facilities and transferring the business to larger plants. The Pembroke facility is the sixth Smurfit-Stone corrugated container plant to discontinue operations since the company launched its strategic initiatives.
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Smurfit-Stone Container Corporation (Nasdaq: SSCC) is the industry’s leading integrated manufacturer of paperboard and paper-based packaging. Smurfit-Stone is a leading producer of containerboard, including white top linerboard and recycled medium; corrugated containers; point-of-purchase displays; multiwall and specialty bags; and clay-coated recycled boxboard; and is one of the world’s largest collectors and marketers of recovered fiber. In addition, Smurfit-Stone is a leading producer of solid bleached sulfate, folding cartons, flexible packaging, and labels. The company operates approximately 240 facilities, located primarily in the U.S., Canada and Mexico, and employs approximately 33,500 people.