Garamond Printing Plant To Close

60 To Lose Jobs

Action By Cadmus Is Part Of Restructuring

April 25, 1997|By Liz Bowie | Liz Bowie,SUN STAFF

Cadmus Communications Corp. said yesterday that it will close its Garamond Pridemark plant in Southwest Baltimore next week and lay off 60 people.

The Richmond, Va.-based company said the Baltimore plant was breaking even but had lost money in the past. "We have owned this business for nine years. We have tried very hard to make a go of it," said David Bosher, vice president and treasurer of Cadmus.

Bosher said the Garamond plant was never able to gain enough market share in the Baltimore-Washington area.

The plant closing is part of an overall restructuring at Cadmus designed to improve the company's financial performance.

"We've had to reconsider parts of our business that are underperforming," he said.

The company reported net income of $2 million, or 25 cents a share, for its third quarter, ended March 31, compared with $800,000, or 9 cents a share, for the same period the year before.

Cadmus also owns the Waverly printing plant in Easton and a Waverly Press Inc. facility near Baltimore-Washington International Airport.

Neither of those operations will be affected by the restructuring, Bosher said.

The 30,000-square-foot Garamond plant at 2717 Wilmarco Ave. will be put up for sale after it is closed. Cadmus hopes to continue some of the printing at its Richmond plant.

The 60 employees who are being laid off will receive severance pay based on their salary and length of service with the company, Bosher said.

They include salespeople and customer service, administrative and pressroom workers.

Pub Date: 4/25/97

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