McCormick Announces Consolidation of North American Manufacturing Facilities
SPARKS, Md., Jan 10, 2006 /PRNewswire-FirstCall via COMTEX News Network/ -- McCormick & Company, Incorporated (NYSE: MKC) today announced that it will be closing its manufacturing facility in Salinas, California and moving production to other existing North American manufacturing facilities by the end of 2006. This action is part of the Company's current restructuring plan to simplify the business and improve margins.
Manufacturing activity will be transferred to operations in Hunt Valley, Maryland, Dallas, Texas and London, Canada. As a result of this consolidation, approximately 400 positions in California will be eliminated. The Company is committed to provide assistance to its employees, including severance, outplacement and potential re-assignment to other McCormick facilities.
As part of the restructuring plan, the Company also announced that it will be closing its condiment manufacturing facility in Hunt Valley, Maryland and moving production to its existing condiment manufacturing facility in South Bend, Indiana by the end of 2006. The Company expects to transfer employees of the facility that will close to positions at other McCormick facilities in Maryland.
In the fourth quarter of 2005, the Company must record certain portions of the charges related to the closure of these two facilities. Fourth quarter and fiscal year 2005 financial results will be released on January 25, 2006.
About McCormick
McCormick & Company, Incorporated is the global leader in the manufacture, marketing and distribution of spices, seasonings and flavors to the entire food industry - to foodservice and food processing businesses as well as to retail outlets.
SOURCE McCormick & Company, Incorporated
Corporate Communications:
Mac Barrett
410-771-7310
mac_barrett@mccormick.com
Investor Relations:
Joyce Brooks
410-771-7244
joyce_brooks@mccormick.com
both of McCormick & Company, Incorporated