Firm retools after CEO exit: Norwood gives up on sale, to close 2 plants
In recent months, Norwood Promotional Products has settled a lawsuit with its distributors, lost its CEO, put itself up for sale, and then taken itself off the block. Last week, the 2,000-employee company announced plant closings in Iowa and Pennsylvania. The swirl of activity is no cause for concern, according to Norwood officials, who say the No. 2 player in the promotional products industry is doing fine and will stay in Indianapolis. The privately held company-known for making customized products…