Hormel Foods, the US group behind the Spam brand, is to close a canned-meats factory in California.
The company said yesterday (20 April) that it would close the site in Turlock by the end of October.
Go deeper with GlobalData
Affected employees “may” have the chance to work at Hormel’s other four sites in California. The company did not disclose how many staff at Turlock would lose their jobs.
“The manufacture of our Valley Fresh canned products will be moved to another facility which will provide greater purchasing and distribution efficiencies,” said Mike Devine, vice president of Hormel’s grocery products operations.
A write-down in assets and employee-related costs will result in a one-time charge to Hormel’s fiscal 2010 second-quarter earnings per share of around five cents.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
