|
CYRO Announces Streamlining Of Manufacturing Operations
CYRO Industries announced that they would streamline their manufacturing operations. The company, which is one of North America's largest manufacturers of acrylic molding compounds and acrylic sheet, will consolidate its North American operations and close the Canadian plant in Niagara Falls, Ontario. The products previously manufactured at the Niagara Falls plant will now be produced by company sites in Osceola, Arkansas and Sanford, Maine. The Niagara Falls plant manufactures ACRYLITE® acrylic sheet, ACRYLITE® molding and extrusion compounds, and ACRYLITE® SDP®
double-skinned acrylic sheet.
In making the announcement, John L. Medina, President and CEO of CYRO Industries said "This is an important strategic opportunity in that the consolidation allows us to streamline our manufacturing operations from five locations to four. Along with achieving significant cost savings, we expect enhancements in quality consistency, delivery services to our customers, and more efficient product line manufacturing scheduling."
Over the last several years CYRO has continually invested in the installation of the most modern manufacturing technologies to produce acrylic molding compounds and continuously manufactured acrylic sheet. Medina added, "The Niagara Falls plant is CYRO's smallest facility in North America. The new, more efficient manufacturing technologies that we have invested in at our other plant sites can handle our anticipated volume growth for the next several years. The more efficient operations are critical to future profitable growth as profit margins continually come under fire."
Sixty-seven employees will be affected due to the closure of the Niagara Falls plant. CYRO is conducting individual meetings this week with Niagara Falls employees to discuss severance, employee benefit and pension issues. CYRO is also offering out-placement services to all Niagara Falls personnel.
For more information, contact CYRO Industries, 100 Enterprise Drive, Rockaway, NJ 07866, 800-631-5384, Fax: 973-442-6117, In Canada: 800-268-4743, or Web: www.cyro.com.
|
