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 Smurfit-Stone to Close 20% of their Factories
By Editor (Source: Smurfit-Stone)
Fri, Nov 11th, 2005 8:09 pm

Just published this in the News Section, but any time there's major change in a local employer it impacts real estate so I'm also posting it here for discussion.

Smurfit-Stone Container Corporation, a large employer here in the St. Louis area, has announced plans to restructure which includes closing up to 20 percent of its corrugated container manufacturing facilities.  The company plans to consolidate the manufacturing to its larger plants by 2008.  These measures are expected to help cut operating costs by $600 million a year.

Commenting on the new strategy, Patrick J. Moore, chairman, president and chief executive officer, said, “Smurfit-Stone faces critical challenges and opportunities as a result of dramatic shifts in the packaging market.  We must leverage our size and integrated system to drive a step change decrease in our cost structure to improve our competitive cost position in the marketplace."

Moore further said, “Market realities demand a new business model and a revised strategy.  We are making the necessary changes in our business structure to enable our plan.  Within three years, we intend to establish a highly competitive cost profile by reducing annual costs $600 million and capitalize on opportunities in the market to deliver incremental revenue growth of $650 million.”

Smurfit-Stone Container Corporation is the industry’s leading integrated manufacturer of cardboard boxes for shipping and packing- including point-of-purchase displays.  In addition, Smurfit-Stone is a leading producer of solid bleached sulfate, folding cartons, flexible packaging, and labels. The company operates approximately 250 facilities, located primarily in the U.S., Canada and Mexico, and employs approximately 35,000 people with more than 1500 located in the St. Louis area.

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Darin "Sid" Cameron spent 15 years working in the technology industry which in 1998 relocated him to St. Louis. In 2004 he took over web development tasks for Kimberly's real estate team and later became the full-time Marketing and Operations Director in 2005. In 2011 Sid launched two brokerages, The Realty Store, Inc. and Realty Referral Partners, Inc, while continuing to perform marketing and operations for Kimberly's team. Sid holds a real estate broker's license in Missouri, CRS certification and was the first CyberStar in the St. Louis area.
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