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Gear From Gift Wrap Plant Sold At Auction

Fri, 09/30/2011 - 9:16am

MEMPHIS, Tenn. (AP) — Equipment that had been used to manufacture Christmas gift wrap until a few weeks ago has been auctioned at a Memphis plant.

The closing of the Cleo, Inc., plant put 588 people out of work, but also ended employment for as many as 2,700 seasonal workers each year. Cleo's parent firm CSS industries said in May it was closing the Memphis plant and buying from offshore sources. CSS then announced this month that it told Cleo to Impact Innovations of Minnesota, according to The Commercial Appeal (http://bit.ly/r2M6GW ).

Among of about 150 equipment shoppers at Wednesday's auction was Chen Yun Xiong., who said he has a gift wrap plant in China and needed more equipment.

All 944 pieces of equipment at the plant were sold.

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