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Crown Holdings to close plants 2 Canadian plants

November 17, 2008
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Packaging products distributor Crown Holdings, Inc. has announced that it will close two Canadian plants, moves that will likely lead to job cuts among the 175 workers at the facilities, reported by the Associated Press. Crown said it will close a food can plant in Dorval and a can and bottle cap plant in Montreal. The Montreal plant has been in operation since 1956 and has a production capacity of 800 million cans per year. Some equipment will be relocated to other North American plants and to facilities overseas. Crown expects to record a charge of $21 million in the fourth quarter and $4 million in 2009 due to the closures. Annual cost reductions are expected to be $11 million.

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