Bay Valley Foods, a wholly-owned subsidiary of TreeHouse Foods, Inc., today announced its intention to close its Ayer, Massachusetts facility. Production is expected to cease in the first quarter of 2017 with full closure of the facility expected in the third quarter of 2017.
The Ayer facility has approximately 100 employees and primarily produces regionally branded and private label spoonable dressings. The facility closure decision is the result of ongoing manufacturing network analysis by the Company to maintain competitive costs, service levels and product quality. Products produced at the Ayer facility will be moved to other manufacturing facilities within the Company’s existing network. The Company does not expect supply disruptions during the transition.
Total costs to close the facility are expected to be approximately $6.5 million, or $0.07 per fully diluted share, of which approximately $5.3 million, or $0.06 per fully diluted share, is expected to be in cash. Components of the charges include non-cash asset write-offs of approximately $1.2 million, employee-related costs of approximately $2.2 million and other closure costs of approximately $3.1 million. The Company expects to incur approximately $1.3 million in charges in each of the second, third and fourth quarters of 2016.
Source: TreeHouse Foods
Cécile Béliot has assumed the role of Bel Group chief executive officer, following the decision to separate the roles of chairman and CEO. The separation of the functions will enable Bel Group to develop in three areas of healthy snacking. Meanwhile, the company’s former CEO, Antoine Fiévet, has had his mandate renewed as chairman of the board.
US Food and Drug Administration (FDA) Commissioner Dr. Robert Califf was grilled by lawmakers during a House Appropriations subcommittee hearing, where he was slammed over the agency’s handling of the escalating infant formula shortage.
Sweegen is ramping up its efforts to reduce sugar across F&B applications while simultaneously tapping into the benefits of using antioxidants and bitter blocking technology. Speaking to FoodIngredientsFirst, Casey McCormick, vice president of global innovation at Sweegen, says product developers can find a broad range of solutions in Sweegen’s nature-based sweetener systems as brands elevate better-for-you foods.
