Jostens to Shut Lake Forest, Mississippi Plants; 175 Jobs to Be Lost
LAKE FOREST — Jostens Inc., one of the nation’s largest processors of photographs, said Wednesday it is closing a plant here and in Mississippi.
About 175 jobs will be lost at both plants; a breakdown wasn’t available Wednesday. A few people will be relocated to Jostens plants elsewhere.
The Lake Forest plant will close June 30, the company told employees Wednesday.
The move consolidates six photo-processing plants in the United States and Canada into four.
“This realignment will take advantage of our technology, maximize efficiency, reduce operating costs and allow us to profitably grow this business,” said Tony Sago, senior vice president.
“We are focusing on improving our market position and competitiveness by developing new products and integrating digital imaging technology.”
Jostens, based in Minneapolis, is also a leading maker of class rings, yearbooks and diplomas.
Investors reacted favorably Wednesday: The stock rose 37.5 cents a share to $17.50 on the New York Stock Exchange.
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