Packaging industry not spared by tough economy

• Multi-Color Corporation announced plans to consolidate its heat transfer label (HTL) manufacturing facility located in Framingham, Mass. into its other existing facilities.

• On Dec. 22, 2008, GIDUE S.p.A. filed for voluntary liquidation. Last year was its top-record year in sales, which were expected to grow 10 to 20 percent in 2009. But, the recession caused a downturn in sales, which are not enough to cover fixed costs. Nuova Castagnoli S.r.l., a former supplier for GIDUE, will take care of servicing presses, new sales, and existing customers. • Packaging Corp. of America reported that its full-year 2008 net income was $136 million compared to 2007’s record earnings of $170 million. Net sales for 2008 and 2007 were $2.36 billion and $2.32 billion, respectively.