Mass. paper company buys Maine stationery maker
DALTON, Mass. (AP) — The Massachusetts company that makes the paper used to print U.S. currency has bolstered its stationery division by buying a Maine-based division of Hallmark Cards.
Crane & Co. announced Thursday that it has agreed to purchase Kennebunk, Maine-based stationery company William Arthur and consolidate the companies at its North Adams facility late next year. The purchase price wasn’t disclosed.
Crane says it’s too soon to know whether the consolidation will mean job cuts, but said there will be no changes until at least March.
Crane, which employs around 300 in North Adams, expects about 100 hourly manufacturing jobs and various other positions to be available to William Arthur employees, which number about 270 in Maine.
Dalton-based Crane was founded in 1801. It’s been the U.S. government’s sole supplier of currency paper since 1964.
Information from: The Berkshire (Mass.) Eagle, http://www.berkshireeagle.com