Thomas L. Lange, 314-746-1236
Georgina Giannelli, 312-580-4865
Smurfit-Stone Container Corporation Announces Plan To Discontinue Operations At Dallas North Corrugated Container Plant
CHICAGO, August 10, 1999 -- Smurfit-Stone Container Corporation (Nasdaq: SSCC) today announced its intention to discontinue operations at its Dallas-North corrugated container plant. Operations will be consolidated with the companys Dallas-South, Grand Prairie and Fort Worth operations.
The Dallas-North facility, located at 11160 Denton Drive, is a former Stone Container Corporation operation. Smurfit-Stone will continue to operate its Dallas-South manufacturing facility located at 2743 South Pierce Street. The Dallas-South plant is a former Jefferson Smurfit Corporation operation.
The decision to discontinue operations at Dallas-North was made after long and careful review of the plants operations. Numerous factors were taken into consideration in making the decision, including near- and long-term capital requirements, operating margins, cash flow and strategic fit.
A total of 116 hourly and 20 salaried employees will be affected. The plant, which has been in operation since 1958, is tentatively scheduled to cease operations in October.
Smurfit-Stone Container Corporation was formed on November 18, 1998 as a result of the merger of Jefferson Smurfit Corporation and Stone Container Corporation. The company is the industrys leading manufacturer of paper and paperboard-based packaging, including containerboard, corrugated containers, industrial bags, and claycoated recycled boxboard; and is the worlds largest paper recycler. In addition, Smurfit-Stone is a leading producer of folding cartons, paper tubes and cores, and labels. The company operates about 300 facilities worldwide and employs more than 30,000.