Visant closes plant in N.J.
Visant Corp. of Armonk this week announced its second plant closing as the marketing and publishing company and seller of Jostens brand class rings continues to reorganize.
â€œThe reality is we want to be as efficient with our manufacturing capacity as we can be,â€ Vice President of Finance Paul B. Carousso said. â€œWe just feel this is the way to go.â€
Visant said it will close its Lehigh Press Inc. plant in Pennsauken, N.J. by the end of August, idling 206 workers. Operations at the plant will be moved to other plants around the country, including one in Hagerstown, Md. that was part of Visantâ€™s $219 million acquisition of Phoenix Color Corp. in the spring.
Severance is being negotiated with the workersâ€™ union. Visant also closed a plant in Attleboro, Mass. that produced Jostens rings, and transferred production to a Texas plant. The company recorded $600,000 in restructuring charges for the first quarter in connection with the closing, which idled 23 workers.
Visant employs 6,000 in the United States. It reported net income for 2007 of $188.9 million on net sales of $1.27 billion.