Paperboard producer Caraustar Industries Inc. has announced that it will close its Richmond mill at 17 East 2nd Street.
In a statement, the Atlanta-based company said,
“Recession and declines in product demand necessitate that the company move aggressively to retain cost efficiencies and increase capacity utilization across its mill system,” said the company in a statement.
“Strategic capital investments have enhanced our mill system and allowed for this further consolidation.”
The Richmond mill is an uncoated recycled boxboard plant with annual capacity of 49 thousand tons. Austell, Ga.-based Caraustar (NASDAQ: CSAR) will take a $5.9 million pre-tax charge for the closure.