Brief: UTZ Brands To Permanently Cease Operations At Manufacturing Facility Located In Birmingham

Utz Brands

26/04/2023 13:16

April 26 (Reuters) - UTZ Brands Inc  UTZ.N :
    * UTZ BRANDS INC- ON APRIL 24, MADE THE DECISION TO
PERMANENTLY
CEASE OPERATIONS AT THE COMPANY’S MANUFACTURING FACILITY LOCATED
IN BIRMINGHAM, ALABAMA
    * UTZ BRANDS INC - APPROXIMATELY 100 EMPLOYEES FROM FACILITY
WILL
CONTINUE TO BE EMPLOYED BY COMPANY AND CONTINUE WORKING IN
BIRMINGHAM
    * UTZ BRANDS INC- EXPECTS TO INCUR PRE-TAX CASH CHARGES OF
ABOUT
$3.0 MILLION TO $5.0 MILLION IN CONNECTION WITH BIRMINGHAM
MANUFACTURING CLOSURE IN FY 2023
    * UTZ BRANDS- GOLDEN FLAKE,OTHER PRODUCTS CURRENTLY PRODUCED
AT
FACILITY WILL CONTINUE TO BE PRODUCED AT OTHER UTZ MANUFACTURING
FACILITIES
    * UTZ BRANDS INC -  MANUFACTURING AT FACILITY IN BIRMINGHAM,
ALABAMA IS BEING PERMANENTLY CEASED
    * UTZ BRANDS INC - COMPANY ALSO EXPECTS TO INCUR NON-CASH
CHARGES
OF APPROXIMATELY $8.5 MILLION TO $11.0 MILLION IN ASSET
IMPAIRMENTS
    * UTZ BRANDS INC - EXPECTS NO DISTRIBUTION OR AVAILABILITY
ISSUES
DUE TO THE MANUFACTURING CLOSURE
    * UTZ BRANDS INC- CLOSURE OF MANUFACTURING FACILITY LOCATED
IN
BIRMINGHAM, ALABAMA EFFECTIVE ON OR AROUND JULY 3, 2023

Further company coverage:  UTZ.N 

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