IP, Ineos Styrolution, Smurfit Westrock to shutter plants

Industry
โดย Packaging Dive·Read original
Summary · why it matters

Multiple manufacturers announced plant closures in June affecting more than 480 workers across the packaging industry. Ineos Styrolution plans to permanently close its polystyrene production site in Channahon, Illinois, during the fourth quarter, citing margin pressures; the 400,000-metric-ton site employs approximately 100 people. International Paper announced four shutdowns slated for the third quarter, affecting 330 total employees, including a sheet plant in Aurora, Illinois, and converting plants in Elk Grove, California, and Barrington, New Jersey. Smurfit Westrock intends to permanently close a folding carton facility in Lebanon, Tennessee, on August 14, affecting 52 workers. These closures bring the yearly total of North American packaging industry workers impacted by announced closures and layoffs tracked by Packaging Dive to more than 2,800.

Impact on stocks 2

Materials▼ · 2 stocks
International Paper
IP
▼ NegativeDemandrelevance

International Paper announced four plant shutdowns affecting 330 employees, indicating reduced demand or overcapacity.

Smurfit WestRock plc
SW
▼ NegativeDemandrelevance

Smurfit Westrock is permanently closing a folding carton facility in Tennessee, affecting 52 workers, signaling weak demand.

Off-coverage companies 1

INEOS StyrolutionPrivate▼ Negative
Pricingrelevance

Ineos Styrolution is closing a polystyrene site due to margin pressures, indicating pricing power issues.

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