Kraft Foods Inc.: Somerdale Plant To Close By 2011
February 09 2010 - 1:21PM
Dow Jones News
Kraft Foods Inc (KFT). said Tuesday that following extensive
talks with senior management at Cadbury PLC (CBRY.LN), it has
accepted that Cadbury plans to close the Somerdale manufacturing
facility in Keynsham, near Bristol are so far advanced that it is
unrealistic to reverse them, adding that the Somerdale plant will
close by 2011 in line with the plans already put in place by
Cadbury.
MAIN FACTS:
-It has now become clear that the investment required to reverse
the closure programme would be so significant that alternative
plans were not viable.
-Cadbury has already invested more than GBP100 million in
building new production facilities in Poland and the majority of
the lines have, or are about to be, transferred by mid of this
year.
-Kraft will continue to support Cadbury's existing GBP30 million
investment plans for the Bournville site.
-During the next six months Kraft will conduct a strategic
review of its combined manufacturing network.
-The company has said that it will honour Cadbury's previous
undertakings to Somerdale employees concerning the terms and
conditions of the closure and the commitment to rebuild the Fry
Club on the Somerdale site.
-By London Bureau, Dow Jones Newswires; Contact Ian Walker; +44 (0)20 7842 9296; ian.walker@dowjones.com
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