LAKE FOREST, ILL. (Aug. 22, 11:30 p.m. ET) — Pactiv Corp. is closing a polystyrene foam manufacturing plant in Chippewa Falls, Wis.
Pactiv will phase-out operations at the plant by January 2013, and will relocate equipment and products to other Pactiv facilities, according to an Aug. 21 news release.
The closing will affect approximately 170 workers.
In the release, Pactiv said the closure is part of an effort to “betters serve customers through consolidated and streamlined operations.”
A Pactiv spokeswoman declined comment.
Packaging powerhouse Pactiv, based in Lake Forest, Ill., is North America's largest thermoformer with estimated sales of $3.2 billion, according to the most recent Plastics News ranking. The firm is owned by Reynolds Group Holdings Ltd. of Auckland, New Zealand, part of Rank Group Ltd.