Cenveo Inc. said it will close its commercial printing plant in Sidney and eliminate 78 jobs in January.
Cenveo, a $2 billion company based in Stamford, Conn., filed a notice with the Ohio Department of Job and Family Services on Friday, about the closing. The plant is located at 829 Vandemark Road.
“All manufacturing and productions operations will cease January 14, 2014,” the company said in its notice. “All employees affected by the plant closing are expected to be permanently laid off and their employment terminated on January 14, 2014.”
A company official contacted Monday declined to take a question about the job cuts and plant closure.
Cenveo operates more than 100 facilities across the U.S., as well as manufacturing operations in Asia, South America and Central America. In September, Cenveo purchased the assets of its chief competitor, National Envelope.
The company reported improved third-quarter earnings on Nov. 6, but noted that it faced headwinds in two of its businesses.
“We continued to see similar trends during the third quarter that we experience in the first half of the year with negative pricing pressures in our envelope and commercial print businesses,” the company said in a news release on its earnings.
Cenveo (NYSE: CVO) noted that sales for the quarter topped $442 million for the three months that ended Sept. 28, compared with $437 million for the same period last year. Most of that increase came from higher sales in the direct envelope business.
Net income for the quarter totaled $23.9 million, or 29 cents per share, compared with $4.4 million, or 6 cents per share, during the third quarter 2012.