BRIEF-CCL Industries announces closure of aerosol container plant in Penetanguishene

Fri Nov 22, 2013 12:37pm EST
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Nov 22 (Reuters) - CCL Industries Inc : * Announces the closure of its aerosol container plant in Penetanguishene,

Ontario * To permanently close Canadian aerosol manufacturing operation commencing in

first half of 2014 and completing no later than mid-2015 * Says will record pre-tax one-time restructuring charge of $11 million during

the fourth quarter of 2013 to provide for the closure costs * Expect to expense approximately $4 million from mid-2014 through the first

half of 2015 in other one-time transition costs * Will try to help the 170 employees at the site develop personal transition

plans * Targeting an increase of $10 million to current annualized EBITDA run rate of

about $30 million when consolidation is completed in mid-2015 * Source text for Eikon * Further company coverage