Multi Packaging Solutions Inc. plans to close its printing facility in Terre Haute by the end of the year, terminating about 150 employees.
Based in New York City, MPS acquired the printing facility in 2009 from competitor Ivy Hill Corp. It produces a variety of printing and packaging products for the audio and video media markets.
But due to ongoing changes in those markets, “the company has seen a dramatic decline in the amount of work that is available, and a significant change in the type of work that remains,” according to a notice filed by MPS with state officials on Friday.
As a result, MPS will close the facility on Dec. 31 and terminate its 150 employees, the notice said.
MPS is a leading manufacturer of print-based specialty packing for the cosmetics, health care, consumer and media markets. It has more than a dozen manufacturing locations in the U.S. and Europe, according to its website.
MPS changed hands in August. Madison Dearborn Partners, a Chicago-based private equity firm, acquired MPS from Irving Place Capital, a New York City-based private equity firm. Terms of the deal were not disclosed.