01.20.15
PartyLite will create a "Global Center of Excellence" in Batavia, Illinois for all candle manufacturing and development worldwide and will shut down its manufacturing facility in Cumbria, U.K.
The project will commence in early 2015 and management anticipates total annualized savings of $8.0 million, or $40.0 million over the next five years, and one-time and transitional costs of approximately $6.0 million and a $2.0 million asset write-down in Cumbria, according to the company. The decision was reached after a comprehensive evaluation of PartyLite's two manufacturing facilities in Batavia and in Cumbria, U.K.
PartyLite recently started doing business in Korea, as previously reported in Happi.
PartyLite recently started doing business in Korea, as previously reported in Happi.