STOW, Ohio—Bemis Co. Inc. is closing a manufacturing plant in Stow, a site that makes solvent-based pressure sensitive materials.
The location, slated to close in May, has about 115 workers, the Neenah, Wis.-based company said.
Headquarters for the company's pressure sensitive materials business will remain open in Stow, Bemis said. The plant was opened in 1959 by Burt Morgan as Morgan Adhesives Co. and operated as MACtac. Bemis backed the company from the start and bought full ownership in 2000.
The location had annual net sales of approximately $45 million last year, according to Bemis. The firm said it will offer transition services to affected employees and will record a pre-tag charge related to the closure of about $30 million. That will cover the estimated costs related to pension liability, employee severance and benefit costs, and fixed asset related costs.
Pressure sensitive materials accounted for about a tenth of the company's sales last year, with packaging making up the bulk of the company's $5 billion in revenue.
Bemis, less than a month ago, revealed plans to sell off its paper packaging division to Hood Packaging Corp. for an undisclosed price. That operation had sales of $160 million last year.