A plastic closure includes a shell having a base wall with a skirt for securement to a container finish and a lip that extends radially inwardly from the skirt at a position adjacent to and spaced from the base wall. A liner is compression molded in situ against the base wall, and between the base wall and the lip. The lip has a plurality of circumferentially spaced passages that extend through the lip for venting air during compression molding of the liner.