John Taylor, general manager of the Envelope Products Group, a division of the company, stresses that the move is a financial one. "Today's business environment requires us to reduce costs to remain competitive," he says. "Closing the Worcester facility is a result of the continuing evolution of our marketplace, and will allow the Envelope Products Group to continue meeting the requirements of our customers while reducing our costs at the same time."

A spokesperson for the company, which is headquartered in Stamford CT, tells GlobeSt.com that the plant is leased but he could not specify the square footage of the space. The facility has approximately 150 employees.

Closing the envelope plant will result in MeadWestvaco incurring a pretax charge of up to approximately $11 million during the third quarter. The company anticipates that this closure will have a "positive subsequent effect on earnings." Besides the Worcester facility, the Envelope Products Group has 14 other converting facilities and print centers located throughout the United States. MeadWestvaco operates in 33 countries and employs over 30,000 people worldwide.