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Valspar Shutting Down 7 More Plants

MINNEAPOLIS-The paint and coatings company is likely to sell off the plants, which have not been identified as yet but are all located out of state. The company has already closed seven plants.

By Jim McCartney | Updated on September 13, 2001

MINNEAPOLIS-Valspar says it will shut down and likely sell another seven more plants and shift production away from four more in an effort to produce up to $100 million in cost savings from its purchase of rival Lilly Industries last year. The Minneapolis-based company makes paint products for houses as well as industrial coatings for cars, cans and golf balls, has not yet identified the plants it plans to close.

Valspar does not have any plants in Minnesota. The company, which said it would close eight to 10 plants when it bought Lilly for $975 million, has already closed and put up for sale seven plants.

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