Supremex Inc. announced optimization initiatives aimed at improving operational efficiency and achieving synergies within its Packaging and Specialty Products segment. These initiatives are expected to result in annual cost savings of approximately $1.5 million once all measures are implemented. First, the Company is closing its Saint-Hyacinthe facility, acquired as part of the Impression Paragraph Inc. transaction completed earlier this year.

Production of packaging products carried out in Saint-Hyacinthe will be transferred to existing packaging facilities in the Montreal area. The facility employs 28 workers, some of which could be relocated within the Company?s existing operations. In connexion with this announcement, Supremex will record a non-recurring restructuring charge of approximately $2.8 million before taxes in its fourth-quarter financial results.