U.S. printer maker Lexmark said Tuesday that it will close a plant in Mexico's northern border city of Ciudad Juarez, cutting 270 jobs.
The company said in a statement that the plant shutdown and a further job cut of 90 workers worldwide will cost the firm 50 million U.S dollars overall, 10 million dollars of which will be in cash.
It added that the closure should save the firm 5 million dollars in 2009 and 20 million dollars in 2010.
Lexmark said in the statement that it earned 944 million dollars during the first quarter of 2009, 20 percent less than the same period last year. But the company had managed a gross profit margin of 35.3 percent, slightly lower than its 2008 margin of 37.1 percent.
Source: Xinhua
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