Brief: Post Holdings Announces Plan To Close Lancaster, Oh Facility

Post Holdings

01/12/2023 13:12

Post Holdings Inc  POST.N :
    * POST HOLDINGS ANNOUNCES PLAN TO CLOSE LANCASTER, OH
FACILITY
    * POST HOLDINGS INC - PLANNED CLOSURE OF FACILITY REFLECTS
POST'S
NEED TO REDUCE CAPACITY IN ITS CEREAL PRODUCTION NETWORK
    * POST HOLDINGS INC - LANCASTER FACILITY HAS APPROXIMATELY
200
EMPLOYEES AND IS EXPECTED TO CLOSE BY END OF SEPTEMBER 2024
    * POST HOLDINGS INC - FACILITY PRODUCTION CAPABILITIES WILL
BE
TRANSFERRED TO OTHER POST CONSUMER BRANDS MANUFACTURING
LOCATIONS
    * POST HOLDINGS INC: POST CONSUMER BRANDS HAS ENGAGED IN
DISCUSSIONS WITH UNION REPRESENTING EMPLOYEES AT LANCASTER
FACILITY
    * POST HOLDINGS INC: POST CONSUMER BRANDS HAS NOTIFIED
EMPLOYEES
OF DECISION
    * POST HOLDINGS - TO INCUR CASH AND NONCASH PRE-TAX CHARGES
TOTALING ABOUT $49 TO $55 MILLION IN CONNECTION WITH TRANSFER OF
PRODUCTION CAPABILITIES
    * POST HOLDINGS - COMPLETION OF TRANSFER AND START-UP OF
PRODUCTION AT OTHER LOCATIONS IS ESTIMATED TO REQUIRE CAPITAL
EXPENDITURES OF ABOUT $20 MILLION
    * POST HOLDINGS INC: POST EXPECTS TO ACHIEVE ANNUAL COST
SAVINGS
OF ABOUT $23 TO $25 MILLION, STARTING IN FISCAL YEAR 2025

Source text for Eikon:  ID:nGNX6m4RXW 
Further company coverage:  POST.N