US printing company RR Donnelley & Sons shuts down Argentina plant, cutting about 400 jobs

Markets Associated Press

A global printing company based in the U.S. has shuttered its plants in Argentina amid tough economic times in the South American country.

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Workers at the R.R. Donnelley & Sons plant on the outskirts of Buenos Aires showed up Monday to find the gates locked and a note on the door informing them the operation is now closed.

The statement cited "an insurmountable crisis," but did not disclose further details. R. R. Donnelley has operated in Argentina for about 22 years and had about 400 workers at the facility producing a number of leading magazines.

A spokeswoman at the company's headquarters in Chicago did not respond to phone messages or email requests for comment.

The closure comes as Argentina is in recession, with an unemployment rate of about 11 percent.