Placon Corp. is closing its 112,000-square-foot plant in Wilson, N.C., effective Aug. 2. The decision will result in the termination of 70 jobs.
Placon submitted a Worker Adjustment and Retaining Notification (WARN) filing with the North Carolina Department of Commerce on July 24.
"The reason for the closure is that Placon has experienced a significant drop in sales and revenue company-wide, but especially for the lines of business performed at the Wilson location," said Lori La Tour, Placon's vice president of human resources and safety, wrote in the filing. "All affected employees have been notified."
The company is headquartered in Madison, Wis. And is a family-owned thermoforming company that works in sustainable plastic packaging.
The Wilson facility was the company's newest expansion in October 2021 when Placon acquired it from Sonoco Products Co., it focused on thermoforming for the stock food market.
"The Wilson location was equipped with a technology platform that was difficult to tool up quickly and sell into our existing markets," said Dan Mohs, Placon chairperson and CEO in a news release. "With a heavy heart, we thank our Wilson team members for their efforts and have put together packages to help ease the impact of this change."
Placon is No. 17 in Plastics News' North American thermoforming ranking with an estimated $210 million in sales.