US: Snyder's-Lance to shutter Ontario plant
Snyder's-Lance did not say how many jobs might be at risk as a result of the closure
US snack manufacturer Snyder's-Lance is to close its bakery facility in Ontario as part of a company-wide review.
In a statement yesterday (25 February), the firm said its plant in Cambridge will close on 17 May. The company did not say how many jobs might be at risk as a result of the closure.
"Snyder's-Lance conducted a comprehensive review of current manufacturing facilitates including capacity, capabilities and distribution costs to key markets," Snyder's-Lance said. "Based on that review, management has decided to close the Cambridge facility in order to reduce operating costs while consolidating production into other existing manufacturing sites."
The company said it is providing impacted staff with "severance and outplacement benefits" and will offer them the opportunity to be considered for jobs at other Snyder's-Lance facilities.
In 2012, the firm closed two facilities in Texas: a manufacturing plant in Corsica and a distribution centre in Greenville.
Last week, Snyder's issued a 2013 profit forecast below Wall Street consensus, sending shares down. The company saw its profits increase in 2012 but the company closed the year with a fall in earnings in the fourth quarter.
Snyder's-Lance Announces Plant Closing - Cambridge, Ontario
CHARLOTTE, N.C., Feb. 25, 2013 /PRNewswire/ --Snyder's-Lance Inc. (NASDAQ-GS: LNCE) today announced plans to close its bakery facility in Cambridge, Ontario effective May 17, 2013.
Snyder's-Lance conducted a comprehensive review of current manufacturing facilitates including capacity, capabilities and distribution costs to key markets. Based on that review, management has decided to close the Cambridge facility in order to reduce operating costs while consolidating production into other existing manufacturing sites.
The Company is providing impacted associates with severance and outplacement benefits as well as the opportunity to be considered for jobs that may exist in other Snyder's-Lance facilities.
About Snyder's-Lance, Inc.
Snyder's-Lance, Inc., headquartered in Charlotte, NC, manufactures and markets snack foods throughout the United States and internationally. The Company's products include pretzels, sandwich crackers, pretzel crackers, potato chips, cookies, tortilla chips, restaurant style crackers, nuts and other snacks. Snyder's-Lance has manufacturing facilities in North Carolina, Pennsylvania, Iowa, Indiana, Georgia, Arizona, Massachusetts, Florida, Ohio and Ontario, Canada.
Products are sold under the Snyder's of Hanover®, Lance®, Cape Cod®, Pretzel Crisps®, Krunchers!®, Tom's®, Archway®, Jays®, Stella D'oro®, Eatsmart®, O-Ke-Doke®, Grande® and Padrinos® brand names along with a number of private label and third party brands. Products are distributed nationally through grocery and mass merchandisers, convenience stores, club stores, food service outlets and other channels. LNCE-G
SOURCE Snyder's-Lance, Inc.
CONTACT: Heather Woolford, associate director of public relations, GKV, +1-410-234-2519
Original source: Snyder's-Lance
- Who could swoop for Diamond Foods?
- Trans fat studies show complexity of health debate
- Indonesia - Sweet and sour of confectionery sector
- Indonesia: the key macro issues facing FMCG firms
- Why Quorn Foods auction promises to be competitive
- Quorn Foods agrees sale to Monde Nissin
- Danone, Kerry, Pulmuone also eyeing Quorn
- Mondelez 'preparing to sell European cheese unit'
- ConAgra Foods "efficiency" drive to hit 1,500 jobs
- Mars to buy Mexican chocolate maker Grupo Turin
- Management briefing: just-food’s industry outlook for 2015
- Danone SA : Consumer Packaged Goods - Company Profile, SWOT & Financial Analysis
- The Coca-Cola Company : Consumer Packaged Goods - Company Profile, SWOT & Financial Analysis
- E-Grocery Market in India - Market Research 2015-2019
- Global Bakery & Cereals Market: News and Events July 2015