Saputo has announced plans to “optimise” its manufacturing operations, including with the closure of a facility and investment in US plants.
The company plans to invest approximately $169 million in its cheese manufacturing facilities in Wisconsin and California. This will be done to support its growth plan in the retail market sector in the US.
These initiatives will begin in the fourth quarter of fiscal 2022 and are expected to take around 24 months to implement.
Saputo also plans to close its Bardsley Street, Tulare, California, facility in fiscal 2023. The company says that employees are likely to be minimally affected, as opportunities for employment will be available at other Saputo facilities in Tulare.
Internationally, the dairy processor will be streamlining operations across two of its manufacturing facilities in Australia, and states that a limited number of employees will be impacted.
Lino Saputo, chair of the board, president and chief executive officer, said: “Staying true to our disciplined approach and commitment to shareholder value creation, we are executing our global strategic plan with intention and precision. Today’s announcement is the first in a series of investments and consolidation activities that will increase efficiency and productivity, improving our ability to meet the evolving needs of our customers and consumer”.
© FoodBev Media Ltd 2022
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