Tag Archives: Caraustar

Caraustar (CSAR) Closes Carolina Paperboard Mill Permanently

Caraustar Industries, Inc. just announced that it is permanently closing its paperboard mill in Charlotte, North Carolina. The mill, which produced uncoated recycled boxboard, has been idle since December. Caraustar will record a pre-tax charge of  $9.7 million, with $7.3 million of that amount being non-cash, in conjunction with the closure. Closing the mill is expected to save the company $11.4 million per year before taxes.

Greg Bartlett, vice president of the sales Mill Group, … Read the rest

Caraustar Industries, Inc. (CSAR) To Close One Mill and Idle Another

Caraustar Industries announced today that due to the economic slowdown, it is closing its Richmond, VA paperboard mill and putting its Charlotte, NC mill on standby. The Richmond Paperboard Mill is closing permanently effective December 11, 2008, generating an anticipated $5.1 million in pre-tax savings for Caraustar. The Charlotte mill will go on standby effective December 19 until demand improves. The company expects to open the Charlotte mill again early in 2009.

‘The vice … Read the rest