"At the board meeting in December, the company restated its intention to divest itself of certain of its businesses. In October, Dean Scarborough (CEO) had said that the company was considering a number of divestitures of non-strategic, low-margin businesses, which would reduce annual sales by approximately $70 million, with minimal impact to earnings from operations. Such divestitures. It was predicted that the pretax savings could be in the range of $40 million to $50 million.
The company plans to reduce the number of positions by approximately 700 to 900 around the world,
Fasson North America division also plans to close its pressure sensitive material production plant in Ajax, ON, Canada by the end of next year.
Avery Dennison, based in Pasadena, CA, USA, has more than 21,000 employees worldwide.
As reported by Label and Narrow Roll Magazine.
Paper.com carries the complete line of Avery Dennison's Fasson Division pressure sensitive labels.
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