Post Holdings Announces PowerBar Manufacturing Facility Closing
The closure of the plant is expected to be completed by
“We regret that this decision will impact our employees in
The decision will impact approximately 165 employees. Post has committed to providing severance and transition assistance to all affected employees.
The closure is expected to improve efficiency, decrease costs and grow the profit contribution of the PowerBar® brand. Upon closure of the facility and transfer of production, Post expects to achieve net pretax annual cash manufacturing cost savings of approximately
Certain matters discussed in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including the expected timing of the closure of the plant, the expected transition of production to co-manufacturing agreements, the expected benefits of the closure, the expected cost savings and charges associated with the closure, and the timing of the savings. These forward-looking statements are based on the current expectations of Post and are subject to uncertainty and changes in circumstances. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from the forward-looking statements made herein. These risks and uncertainties include our ability to continue to compete in our product markets and our ability to retain market position; changes in our cost structure, management, financing and business operations; significant volatility in the costs of certain raw materials, commodities, packaging or energy used to manufacture our products; our ability to maintain competitive pricing, introduce new products or successfully manage costs; our ability to successfully implement business strategies to reduce costs; changes in economic conditions and consumer demand for our products; labor strikes, work stoppages or unionization efforts; our reliance on third party manufacturers for certain of our products; disruptions or inefficiencies in supply chain; changes in weather conditions, natural disasters, disease outbreaks and other events beyond our control; business disruptions caused by information technology failures and/or technology hacking; and other risks and uncertainties described in the Company’s filings with the