USA: Galaxy Nutritional Foods posts savings, "poised for turnaround"
Galaxy Nutritional Foods, a producer of plant-based dairy alternatives for the retail and foodservice markets, has said that previous cost-saving and other tactical initiatives have positively impacting the company's operating expenses as well as its EBITDA. All newly installed, modern production equipment is currently producing much higher efficiencies and superior quality products. The company is also experiencing significant savings from recent manufacturing restructuring initiatives and strengthened internal controls. These major operating cost reductions are expected to result in annual operating savings of about US$10m, and as a result of these reductions, Galaxy is experiencing a positive EBITDA trend based on current sales.
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