Block Drug plant consolidation expected to produce $25 mil. in annual cost savings.
This article was originally published in The Tan Sheet
Executive Summary
BLOCK DRUG PLANT CONSOLIDATION EXPECTED TO PRODUCE $25 MIL. in annual cost savings, the company said. Jersey City, N.J.-based Block announced Feb. 5 it will close six of its 12 production facilities in various parts of the world over the next three years, resulting in a reduction of 400 employees, or approximately 12% of its worldwide workforce. The company said savings will be reinvested in new products, acquisitions and geographic market expansion.