US: Diamond to close Indiana factory
Diamond to shutter factory
Diamond Foods has signalled its intention to close its Fishers factory in Indiana, with the loss of around 100 jobs.
The company said the closure is a result of its decision to "eliminate less differentiated items" in the Emerald product line. Discontinued items include peanuts and the Harmony brand. Upon completion of the closure, all of Diamond's Emerald products will be manufactured in Stockton, California.
The group added it will offer its full-time Fishers employees a separation package, including severance pay, benefits and outplacement support.
The plant closure is expected to be completed by the end of January 2013.
Diamond Foods has faced a swathe of difficulties after it emerged last year that it had misstated the price it paid to walnut growers, including the exit of its CEO and CFO and the threat of delisting from the Nasdaq.
As a result, the company is in the process of restating its financial statements for fiscal 2010 and 2011. The Nasdaq has set Diamond a deadline of 7 December to file its reports and until 14 January to hold its annual shareholder meeting.
"We are nearing the point of completion and look forward to being in a position to file our restated results," interim CFO Mike Murphy said.
Savory Snacks in the United States industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value and volume 2007-2011, and forecast to...
This report analyzes the worldwide markets for Functional Foods and Drinks in US$ Million by the following Product Segments: Cereals and Grains, Beverages, Dairy Products, Snacks, and Other Functional...
- On the move: What's in store from Tesco's new CEO?
- On the money: Can Premier build H2 sales momentum?
- Focus: Lindt plays safe with Russell Stover buy
- Interview: Bell hits out at German cartel ruling
- On the money: Steady as she goes at Cloetta
- UPDATE: Premier establishes international unit
- Campbell issues warning on 2014/15 fiscal year
- S&A Foods announces restructure, 55 jobs to go
- Universal Robina to buy biscuit firm Griffin's
- Premier launches Oxo pots range in UK