Envelope-maker Supremex closes Edmonton plant
By Canadian PressNews
Supremex Inc. is closing its Edmonton, Alta. facility and cutting 39 jobs in a move to reduce costs.
The envelope maker says the cuts represent about five per cent of its total workforce, which is expected to result in an annual cost savings of about $2.4 million, before taxes.
The company says the savings will begin to materialize in the current quarter and throughout the first three quarters of 2021 as operations wind down in Edmonton.
Supremex says it will take a one-time charge of about $2.5 million, before taxes, on its fourth-quarter results.
The company operates 13 facilities across six provinces and three facilities in the United States employing a total of about 850 people.