Dolco Packaging to Close Manufacturing Plant
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Dolco Packaging Corp. plans to close its Pico Rivera manufacturing plant, which will result in “a good portion” of the plant’s 130 workers being laid off, Dolco Chairman Richard E. Matthews said.
Dolco, the sole operating unit of Olson Industries in Sherman Oaks, wants to close the plant as part of its proposed reorganization under Chapter 11 of the federal bankruptcy laws. Dolco, a maker of plastic packaging products that employs 650 people overall, sought Chapter 11 protection in May, 1989, after suffering major financial losses.
Matthews said Dolco wants to improve its efficiency and cut costs by consolidating production at its four other plants in Texas, Indiana, Georgia and Washington. Dolco will retain certain sales, service and distribution operations in Pico Rivera, which will absorb some of the 130 manufacturing workers, he said.
Dolco said it expects to file a formal reorganization plan with the bankruptcy court early next year and expects confirmation of the plan by April.
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