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Jostens to close North Carolina Plant

Wednesday, June 17, 2009

Press release from the issuing company

Minneapolis -- Today Jostens announced that it will streamline its memory book manufacturing, resulting in operations in Winston-Salem, North Carolina being discontinued. The change will occur over the coming year to ensure a smooth transition for the customers and Jostens sales representatives served by the plant.

Jostens continues to transform the way memory books are produced through technology, plant investments and new capabilities. The innovations continue to strengthen Jostens overall customer experience, quality, and operational performance. Due to improved efficiency, Jostens has significant production capacity to serve both current and future customers and the decision to discontinue operations in Winston- Salem was based on reducing excess capacity.

The decision is based on the availability of capacity from increased efficiency and not a result of operational or financial issues. The Jostens Memory Book business continues to grow and lead.

As a result of the announcement, 185 employee positions at the Winston-Salem facility will be eliminated. A number of Winston-Salem Customer Service and plant leaders will remain with Jostens during the transition to support customers and sales representatives. All eligible employees will be offered support in the form of severance arrangements and outplacement services.

"I would like to thank all the Winston-Salem plant employees for their contributions and dedication. We are committed to supporting each employee during the transition and do so with our values as a foundation." said Tim Larson, president and CEO, Jostens. "Today’s announcement was based on significant evaluation. Technology and plant investments to improve efficiency are necessary as we continue our vision to deliver customers great experiences, quality and innovation."

All memory book production will remain in the United States and Canada at Jostens facilities.




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