International Paper

May 04, 2007 12:58 ET

International Paper Will Shut Down its Plant on the South Shore of Montreal in July

MONTREAL, QUEBEC--(CCNMatthews - May 4, 2007) - International Paper will shut down its milk and cream carton manufacturing plant located in Longueuil on the South Shore of Montreal. The closure was announced by Evergreen Printing, which acquired International Paper a few weeks ago.

The 36 members of Teamsters Local Union 555M will thus lose their jobs next July.

In addition to the plant on the South Shore of Montreal, Evergreen Printing will also be shutting down plants in London (Ontario) and Boston (Massachusetts). The Longueuil plant was considered as one of the most profitable in the industry in North America.

"We are both disappointed and angered by the company's decision. We wrongfully believed that a profitable and productive plant would protect our members from a hostile and unjustified restructuring effort," stated with indignation the president of Teamsters Local Union 555M, Larry Myles.

"Since several months now, Evergreen Printing's American plants have difficulty filling their order books. It's the main reason for the shutdown of the Longueuil plant. Even so, labour relations were great before International Paper was acquired by Evergreen and we had confidence in the future," added Myles.

For the first quarter of 2007, International Paper declared dividends of $0.25 per share. That was before it was sold to Evergreen Printing.

"The question now at hand is whether the big clients of the Longueuil plant, Natrel, Saputo and Parmalat, will accept to have their cartons printed south of the border. I do hope that they decide to act like good corporate citizens," concluded Myles.

Contact Information

  • International Paper
    Stephane Lacroix