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Premier Foods PLC Announces Reorganization Of Milling Business And Layoff


Wednesday, 10 Jul 2013 05:10am EDT 

Premier Foods PLC announced that it is to reorganise its Milling business into two distinct parts to focus on its free trade (third party) customer base while vertically integrating its remaining milling operations into its baking and grocery businesses. In addition, it is proposed to close the Company's mill located in Barry, Vale of Glamorgan, by the end of October 2013 to align capacity with current market demands. The Company will invest an additional GBP1million in improving the capability of its Southampton and Wellingborough sites as part of this re-organisation although the overall Group guidance on capital expenditure remains unchanged. Following a review of current milling capacity and demand, it is also proposed to close the Company‚Äôs mill located in Barry. This will be phased over the coming months with final closure expected by the end of October 2013, resulting in the loss of around 43 employees plus a smaller number of local contractors. 

Company Quote

43.5
-1.0 -2.25%
7:44am EDT