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Wisconsin-based Bemis Co. Inc. announced in a press release Monday that it will close its Darrow Road MACtac plant, one of its Pressure Sensitive Materials manufacturing facilities, in May.
The Stow plant workforce includes approximately 115 employees. The press release said the company recognizes that these changes will have "a significant impact" on employees and their families and intends to offer transition services to affected employees to aid in their search for new employment.
The headquarters of the Pressure Sensitive Materials business will remain in Stow.
The company expects this plant closure to improve its market competitiveness and to better position its business for long-term growth, according to the press release.
The manufacturing facility recorded 2013 annual net sales of approximately $45 million. In 2014, the company will record a pre-tax charge related to the plant closure of approximately $30 million which includes estimated costs related to the settlement of a multi-employer pension liability, employee severance and benefit costs, and fixed asset related costs.
The facility, started in 1959, primarily manufactures solvent-based pressure sensitive materials.