Courier Opts to Shutter Book Plant

In connection with the closing, Courier estimates pre-tax restructuring costs of approximately $6 million for severance, pension withdrawal liabilities and other expenses. In addition, the facility's lease obligates Courier to pay an aggregate of $2.7 million through 2015, although the company is pursuing options to reduce those costs. Overall, Courier expects the cash impact of the closing to be approximately $3 million over the remainder of fiscal 2011, with the majority of the remaining cash impact spread across five to 20 years.