US spice manufacturer McCormick has said that it anticipates significantly improved financial results upon the completion of its restructuring programme next year.
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The company has introduced a number of growth initiatives that are expected to drive growth in 2008 and beyond, including product innovation, revitalisation of core brands, growth in emerging markets and strategic acquisitions.
The company also hopes to drive sustainable supply chain management initiatives and margin improvement.
McCormick said that these measures are expected to result in increased sales, improved gross margins and higher shareholder returns.
Bob Lawless, chairman and CEO, said: “We firmly believe that the characteristics of our business – a leading market position, an experienced leadership team and motivated employees, and a sustainable and effective growth strategy – put us in a position to achieve excellent financial results and deliver superior shareholder return.”
McCormick is the world’s manufacturer of spices, seasonings and flavors in the world. The company is based in Sparks, Maryland.
