MARIETTA, Ga. (AP) -- Graphic Packaging International Inc. said Thursday it will close a Chicago-area label plant and lay off about 100 people.
GPI's St. Charles, Ill., label facility provides "cut and stack" paper labels to the food and health care industries. Label production will continue through year's end, after which GPI will move operations to another location.
The move is part of GPI's goal of achieving "operating synergies of $90 million by 2010," the company said in a news release.
GPI is a unit of Graphic Packaging Holding Co., whose shares closed Wednesday down 51 cents, or 20.4 percent, to $1.99.
